Berkshire Bank Has $3.26 Million Holdings in Bank of America Co. (NYSE:BAC)

Berkshire Bank boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,167 shares of the financial services provider’s stock after purchasing an additional 1,119 shares during the period. Berkshire Bank’s holdings in Bank of America were worth $3,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Accent Capital Management LLC raised its position in Bank of America by 43.0% in the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares during the last quarter. Summit Global Investments raised its position in shares of Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 1,700,141 shares during the period. Baker Avenue Asset Management LP boosted its holdings in Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after acquiring an additional 33,983 shares during the last quarter. Finally, Clarendon Private LLC acquired a new stake in Bank of America in the fourth quarter worth about $798,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

NYSE BAC opened at $47.06 on Tuesday. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The firm’s 50 day moving average is $45.82 and its 200-day moving average is $42.63. The company has a market capitalization of $361.10 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

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, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. Equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

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.