Bank of America Co. (NYSE:BAC) Shares Purchased by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,285 shares of the financial services provider’s stock after acquiring an additional 4,921 shares during the period. YHB Investment Advisors Inc.’s holdings in Bank of America were worth $892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP increased its holdings in 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 last quarter. KBC Group NV increased its stake in shares of Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after buying an additional 5,493,817 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Bank of America by 193.4% in the third 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 in the last quarter. International Assets Investment Management LLC boosted its stake in Bank of America by 3,550.7% during the 3rd 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 acquiring an additional 4,423,215 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Bank of America during the 3rd quarter worth $174,858,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAC shares. Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Oppenheimer boosted their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the 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 Trading Down 0.4 %

Shares of BAC stock opened at $46.88 on Wednesday. The firm has a market capitalization of $359.70 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. 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 Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The stock has a fifty day moving average of $45.82 and a two-hundred day moving average of $42.67.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. Bank of America’s revenue was up 15.0% compared to the same quarter last year. As a group, research analysts expect 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.