Prairiewood Capital LLC Has $1.53 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Prairiewood Capital LLC lowered its holdings in shares of Bank of America Co. (NYSE:BAC) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,716 shares of the financial services provider’s stock after selling 6,617 shares during the period. Bank of America makes up about 0.7% of Prairiewood Capital LLC’s holdings, making the stock its 29th biggest position. Prairiewood Capital LLC’s holdings in Bank of America were worth $1,526,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BAC. Kennebec Savings Bank acquired a new position in shares of Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Down 0.2 %

Shares of NYSE BAC opened at $46.54 on Tuesday. The business’s fifty day moving average price is $45.79 and its 200-day moving average price is $42.44. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The stock has a market capitalization of $357.13 billion, a PE ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm 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 12.48% and a return on equity of 10.09%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. On average, equities research analysts anticipate that Bank of America Co. will post 3.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BAC shares. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial upped their target price on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. Finally, Piper Sandler dropped their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.