Ballentine Partners LLC Has $6.43 Million Stake in Bank of America Co. (NYSE:BAC)

Ballentine Partners LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,331 shares of the financial services provider’s stock after purchasing an additional 3,422 shares during the quarter. Ballentine Partners LLC’s holdings in Bank of America were worth $6,431,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BAC. Traveka Wealth LLC raised its position in shares of Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares during the period. Longfellow Investment Management Co. LLC lifted its position in shares of Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in shares of Bank of America by 1.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 231 shares during the period. Gemmer Asset Management LLC grew its position in shares of Bank of America by 1.8% in the fourth quarter. Gemmer Asset Management LLC now owns 13,183 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 235 shares in the last quarter. Finally, Integrity Financial Corp WA lifted its holdings in Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Bank of America stock opened at $46.54 on Tuesday. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08. 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 50-day moving average of $45.79 and a 200-day moving average of $42.44. The firm has a market cap of $357.13 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company 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 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. Sell-side analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Ratings Changes

BAC has been the topic of a number of analyst reports. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note 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 note on Tuesday, December 3rd. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Evercore ISI lowered their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.