Bank of America Co. (NYSE:BAC) Shares Bought by Howard Financial Services LTD.

Howard Financial Services LTD. lifted its stake in Bank of America Co. (NYSE:BAC) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,582 shares of the financial services provider’s stock after purchasing an additional 794 shares during the quarter. Howard Financial Services LTD.’s holdings in Bank of America were worth $333,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in Bank of America in the 2nd quarter valued at about $257,000. Ieq Capital LLC raised its position in shares of Bank of America by 17.2% during the 2nd quarter. Ieq Capital LLC now owns 305,830 shares of the financial services provider’s stock valued at $12,163,000 after buying an additional 44,821 shares during the period. GM Advisory Group LLC lifted its holdings in Bank of America by 1.3% in the second quarter. GM Advisory Group LLC now owns 35,567 shares of the financial services provider’s stock valued at $1,414,000 after acquiring an additional 446 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Bank of America by 7.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 97,751 shares of the financial services provider’s stock worth $3,887,000 after acquiring an additional 6,385 shares during the period. Finally, Callan Capital LLC increased its stake in Bank of America by 8.1% during the second quarter. Callan Capital LLC now owns 26,871 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 2,019 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

NYSE BAC opened at $46.54 on Friday. The firm’s fifty day moving average is $45.76 and its two-hundred day moving average is $42.37. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $357.13 billion, a PE ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

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 the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Analysts expect that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BAC shares. Wells Fargo & Company upped their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI dropped their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

About Bank of America

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.