Bank of America Co. (NYSE:BAC) Shares Acquired by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd lifted its holdings in Bank of America Co. (NYSE:BAC) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,910 shares of the financial services provider’s stock after buying an additional 800 shares during the quarter. Bank of America accounts for 1.7% of Mandatum Life Insurance Co Ltd’s portfolio, making the stock its 13th biggest holding. Mandatum Life Insurance Co Ltd’s holdings in Bank of America were worth $5,666,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BAC. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC grew its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Bank of America during the 4th quarter worth about $42,000. Christopher J. Hasenberg Inc raised its position in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BAC shares. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday. Finally, Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Down 0.2 %

Bank of America stock opened at $46.54 on Monday. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08. The stock has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. The company’s 50-day moving average price is $45.79 and its two-hundred day moving average price is $42.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, analysts expect that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.