Trivant Custom Portfolio Group LLC Has $3.86 Million Holdings in Bank of America Co. (NYSE:BAC)

Trivant Custom Portfolio Group LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,885 shares of the financial services provider’s stock after selling 1,171 shares during the period. Bank of America makes up approximately 2.3% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 15th largest position. Trivant Custom Portfolio Group LLC’s holdings in Bank of America were worth $3,863,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BAC. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% during the 4th 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 in the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America in the 4th quarter valued at approximately $42,000. Christopher J. Hasenberg Inc boosted its position in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the third quarter worth $45,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Shares of BAC stock opened at $46.54 on Friday. The firm has a 50 day moving average of $45.76 and a 200-day moving average of $42.37. The company has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly 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. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period last year, the company posted $0.70 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current year.

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.