MassMutual Private Wealth & Trust FSB Has $30.49 Million Stock Position in Bank of America Co. (NYSE:BAC)

MassMutual Private Wealth & Trust FSB reduced its holdings in Bank of America Co. (NYSE:BAC) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 693,824 shares of the financial services provider’s stock after selling 9,014 shares during the quarter. Bank of America comprises 0.9% of MassMutual Private Wealth & Trust FSB’s holdings, making the stock its 28th largest holding. MassMutual Private Wealth & Trust FSB’s holdings in Bank of America were worth $30,494,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC grew 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 in 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 valued at $40,000 after purchasing an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 3rd quarter worth about $45,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on BAC. Barclays boosted their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. 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 report on Friday. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a report on Friday, October 18th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Down 0.2 %

NYSE BAC opened at $46.54 on Monday. The stock has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. The business’s fifty day moving average is $45.79 and its 200-day moving average is $42.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts predict that Bank of America Co. will post 3.24 EPS 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.