Bank of America Co. (NYSE:BAC) Shares Sold by Guardian Investment Management

Guardian Investment Management decreased its position in Bank of America Co. (NYSE:BAC) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 74,268 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Bank of America comprises 2.3% of Guardian Investment Management’s portfolio, making the stock its 9th largest holding. Guardian Investment Management’s holdings in Bank of America were worth $3,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BAC. Two Sigma Advisers LP lifted its position in shares of 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 buying an additional 10,175,100 shares during the last quarter. 1832 Asset Management L.P. lifted its position in Bank of America by 1,432.1% in the second quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after acquiring an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake 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 grew its holdings in shares of Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after purchasing an additional 4,423,215 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Bank of America during the third quarter worth about $174,858,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.2 %

Shares of NYSE:BAC opened at $46.54 on Monday. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08. The stock has a 50-day simple moving average of $45.79 and a 200-day simple moving average of $42.43. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $357.13 billion, a P/E ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BAC shares. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research report on Friday, October 18th. Barclays increased their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.