Bank of America Co. (NYSE:BAC) Shares Sold by Aspire Private Capital LLC

Aspire Private Capital LLC decreased its position in Bank of America Co. (NYSE:BAC) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,581 shares of the financial services provider’s stock after selling 330 shares during the quarter. Aspire Private Capital LLC’s holdings in Bank of America were worth $905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Legal & General Group Plc grew its position in shares of Bank of America by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after buying an additional 895,884 shares during the last quarter. Fisher Asset Management LLC raised its stake in Bank of America by 4.0% during the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after acquiring an additional 1,731,003 shares during the period. Sanders Capital LLC lifted its holdings in Bank of America by 2.8% in the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after acquiring an additional 601,211 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in Bank of America by 0.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after acquiring an additional 59,853 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted 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. Evercore ISI dropped their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

Shares of BAC opened at $46.65 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $357.92 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.26 and a beta of 1.33. The business’s 50-day moving average is $45.80 and its 200-day moving average is $42.48. Bank of America Co. has a fifty-two week low of $32.32 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that Bank of America Co. will post 3.67 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.