Bank of America Co. (NYSE:BAC) Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,910 shares of the financial services provider’s stock after selling 3,230 shares during the period. Accurate Wealth Management LLC’s holdings in Bank of America were worth $1,396,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BAC. Two Sigma Advisers LP grew its holdings 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 purchasing an additional 10,175,100 shares during the period. 1832 Asset Management L.P. increased its position in shares of Bank of America by 1,432.1% during 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 acquiring an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of 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 valued at $301,898,000 after acquiring an additional 5,015,378 shares during the period. International Assets Investment Management LLC raised its position in Bank of America by 3,550.7% in the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $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 worth $174,858,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

Shares of BAC opened at $45.88 on Wednesday. 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 fifty-two week low of $31.27 and a fifty-two week high of $48.08. The firm has a 50-day simple moving average of $45.69 and a 200-day simple moving average of $42.31. The company has a market capitalization of $352.03 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on BAC. Morgan Stanley downgraded Bank of America from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $48.00 to $55.00 in a report on Monday, December 9th. Oppenheimer reduced their price target on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

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.