Brady Martz Wealth Solutions LLC Buys Shares of 25,113 Bank of America Co. (NYSE:BAC)

Brady Martz Wealth Solutions LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 25,113 shares of the financial services provider’s stock, valued at approximately $1,150,000.

A number of other hedge funds have also made changes to their positions in the stock. Two Sigma Advisers LP raised its holdings in Bank of America by 31,021.6% in 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 during the period. 1832 Asset Management L.P. grew its position in shares of Bank of America by 1,432.1% in the second quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after purchasing an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Bank of America by 193.4% in the third 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 period. International Assets Investment Management LLC lifted its position in shares of Bank of America by 3,550.7% during the 3rd 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 last quarter. Finally, D1 Capital Partners L.P. bought a new stake in Bank of America during the 3rd quarter valued at approximately $174,858,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC stock opened at $46.54 on Friday. The stock’s fifty day moving average is $45.79 and its 200-day moving average is $42.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. 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 capitalization of $357.13 billion, a PE ratio of 16.93, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm 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 company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BAC. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Finally, Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report 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’s stock. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.