Arbor Trust Wealth Advisors LLC Lowers Stock Holdings in Bank of America Co. (NYSE:BAC)

Arbor Trust Wealth Advisors LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,175 shares of the financial services provider’s stock after selling 683 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Bank of America were worth $403,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Traveka Wealth LLC raised its holdings in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC increased its position in Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its stake in Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 231 shares in the last quarter. Integrity Financial Corp WA lifted its position in Bank of America by 1.6% during the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 240 shares during the last quarter. Finally, Cahill Financial Advisors Inc. increased its holdings in shares of Bank of America by 2.1% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of analyst reports. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley increased their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

Shares of BAC stock opened at $46.54 on Friday. Bank of America Co. has a twelve month low of $31.40 and a twelve month high of $48.08. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $45.79 and a two-hundred day simple moving average of $42.42. The stock has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 analyst estimates of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts predict that Bank of America Co. will post 3.24 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.