Buffington Mohr McNeal Purchases 2,229 Shares of Bank of America Co. (NYSE:BAC)

Buffington Mohr McNeal lifted its position in Bank of America Co. (NYSE:BAC) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,468 shares of the financial services provider’s stock after purchasing an additional 2,229 shares during the quarter. Bank of America comprises approximately 1.4% of Buffington Mohr McNeal’s portfolio, making the stock its 24th largest holding. Buffington Mohr McNeal’s holdings in Bank of America were worth $8,679,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter valued at 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 valued at $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc raised its holdings 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 valued at $40,000 after buying an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Bank of America in the fourth quarter worth approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America during the third quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BAC. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Morgan Stanley raised 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, January 17th. Oppenheimer boosted their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Up 1.2 %

NYSE:BAC opened at $47.06 on Tuesday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The company’s 50-day simple moving average is $45.82 and its 200 day simple moving average is $42.63. The firm has a market capitalization of $361.10 billion, a P/E ratio of 14.62, a PEG ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last released its earnings results 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 return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Bank of America Co. will post 3.67 EPS for the current fiscal 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.