Shilanski & Associates Inc. Decreases Stock Position in Bank of America Co. (NYSE:BAC)

Shilanski & Associates Inc. decreased its holdings in Bank of America Co. (NYSE:BAC) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,227 shares of the financial services provider’s stock after selling 795 shares during the period. Bank of America comprises about 1.6% of Shilanski & Associates Inc.’s investment portfolio, making the stock its 20th biggest holding. Shilanski & Associates Inc.’s holdings in Bank of America were worth $4,932,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Bank of America by 1.6% in the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock worth $2,288,347,000 after acquiring an additional 895,884 shares during the period. Fisher Asset Management LLC raised its holdings in shares of 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 valued at $1,794,164,000 after purchasing an additional 1,731,003 shares during the last quarter. Sanders Capital LLC lifted its position in Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after purchasing an additional 601,211 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings 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 worth $676,264,000 after purchasing an additional 59,853 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Finally, Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. One investment 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $46.41 on Friday. 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 50 day moving average price of $45.81 and a 200-day moving average price of $42.55. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08. The firm has a market cap of $356.13 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business 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 posted $0.70 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Bank of America Co. will post 3.67 EPS for the current 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.