Bank of America Co. (NYSE:BAC) Shares Sold by FSC Wealth Advisors LLC

FSC Wealth Advisors LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 16.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,590 shares of the financial services provider’s stock after selling 315 shares during the period. FSC Wealth Advisors LLC’s holdings in Bank of America were worth $70,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its stake 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 worth $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the third quarter valued at about $45,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 1.2 %

Shares of BAC opened at $47.06 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $361.10 billion, a PE ratio of 14.62, a P/E/G ratio of 1.24 and a beta of 1.33. The company’s 50-day simple moving average is $45.82 and its 200-day simple moving average is $42.63. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. Analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BAC. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research report on Friday, October 18th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Finally, Barclays boosted their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America 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.