Allen Capital Group LLC Purchases 1,715 Shares of Bank of America Co. (NYSE:BAC)

Allen Capital Group LLC increased its position in shares of Bank of America Co. (NYSE:BAC) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,856 shares of the financial services provider’s stock after purchasing an additional 1,715 shares during the period. Allen Capital Group LLC’s holdings in Bank of America were worth $1,488,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kennebec Savings Bank purchased a new position in shares of Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC increased its holdings 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 acquiring an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted its stake in Bank of America by 525.9% in the 3rd 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 in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America during the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAC. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Oppenheimer increased their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Piper Sandler reduced their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial boosted 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, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Up 0.6 %

Shares of BAC opened at $47.12 on Wednesday. The firm has a fifty day moving average price of $45.83 and a 200-day moving average price of $42.70. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $361.54 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. Equities research analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.

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.