Aurora Private Wealth Inc. Sells 271 Shares of Bank of America Co. (NYSE:BAC)

Aurora Private Wealth Inc. lessened its position in Bank of America Co. (NYSE:BAC) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,880 shares of the financial services provider’s stock after selling 271 shares during the quarter. Bank of America comprises about 1.0% of Aurora Private Wealth Inc.’s investment portfolio, making the stock its 24th biggest position. Aurora Private Wealth Inc.’s holdings in Bank of America were worth $1,357,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BAC. Deerfield Management Company L.P. Series C bought a new position in shares of Bank of America during the 2nd quarter worth about $240,000. Driehaus Capital Management LLC increased its holdings in shares of Bank of America by 56.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 7,964 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of Bank of America by 13.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 14,957 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 1,783 shares during the period. Ascent Group LLC increased its holdings in shares of Bank of America by 4.2% during the 2nd quarter. Ascent Group LLC now owns 111,551 shares of the financial services provider’s stock worth $4,436,000 after purchasing an additional 4,494 shares during the period. Finally, Doheny Asset Management CA increased its holdings in shares of Bank of America by 785.9% during the 2nd quarter. Doheny Asset Management CA now owns 58,910 shares of the financial services provider’s stock worth $2,343,000 after purchasing an additional 52,260 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BAC. Morgan Stanley boosted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company increased their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

BAC opened at $46.48 on Monday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50 day simple moving average is $45.82 and its 200-day simple moving average is $42.63. The stock has a market capitalization of $356.60 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal 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.