Acropolis Investment Management LLC Has $606,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Acropolis Investment Management LLC decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,797 shares of the financial services provider’s stock after selling 1,105 shares during the quarter. Acropolis Investment Management LLC’s holdings in Bank of America were worth $606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Advisers LP boosted its stake in shares of Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after acquiring an additional 10,175,100 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock worth $244,627,000 after purchasing an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after purchasing an additional 5,015,378 shares during the last quarter. International Assets Investment Management LLC boosted its position in Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after purchasing an additional 4,423,215 shares during the period. Finally, D1 Capital Partners L.P. acquired a new position in Bank of America during the third quarter valued at approximately $174,858,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 1.8 %

NYSE BAC opened at $45.88 on Wednesday. Bank of America Co. has a 1-year low of $31.27 and a 1-year high of $48.08. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $45.69 and its two-hundred day moving average is $42.31. The company has a market capitalization of $352.03 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAC has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Wells Fargo & Company upped their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Barclays increased their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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.