Wells Trecaso Financial Group LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Wells Trecaso Financial Group LLC lessened its stake in Bank of America Co. (NYSE:BAC) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,376 shares of the financial services provider’s stock after selling 886 shares during the period. Wells Trecaso Financial Group LLC’s holdings in Bank of America were worth $280,000 at the end of the most recent reporting period.

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

Bank of America Trading Up 1.4 %

Bank of America stock opened at $46.41 on Friday. 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 Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm’s 50 day moving average price is $45.81 and its two-hundred day moving average price is $42.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

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 the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, research analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $53.00 in a research 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.58.

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.