Patton Albertson Miller Group LLC Has $6.68 Million Position in Bank of America Co. (NYSE:BAC)

Patton Albertson Miller Group LLC boosted its position in Bank of America Co. (NYSE:BAC) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 151,977 shares of the financial services provider’s stock after purchasing an additional 2,548 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Bank of America were worth $6,679,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Kennebec Savings Bank bought a new stake in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC increased its position in shares of 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 during the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% during 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 acquired a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the third quarter valued at $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on BAC shares. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial upped their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. 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 report on Tuesday, January 7th. Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE BAC opened at $46.48 on Friday. The firm has a 50-day moving average price of $45.82 and a two-hundred day moving average price of $42.61. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a market capitalization of $356.60 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 net margin of 14.10% and a return on equity of 10.29%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Analysts anticipate 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.