Hardy Reed LLC grew its position in shares of Bank of America Corp (NYSE:BAC) by 25.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,923 shares of the financial services provider’s stock after buying an additional 1,808 shares during the quarter. Hardy Reed LLC’s holdings in Bank of America were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Garrett Wealth Advisory Group LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $25,000. Larson Financial Group LLC grew its stake in shares of Bank of America by 195.6% during the third quarter. Larson Financial Group LLC now owns 1,330 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 880 shares during the last quarter. Corbenic Partners LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $39,000. Salomon & Ludwin LLC grew its stake in shares of Bank of America by 120.6% during the second quarter. Salomon & Ludwin LLC now owns 1,489 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 814 shares during the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in shares of Bank of America during the third quarter valued at approximately $43,000. 69.21% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BAC traded down $0.76 during trading hours on Friday, hitting $33.36. The company’s stock had a trading volume of 26,573,178 shares, compared to its average volume of 38,938,584. The stock has a fifty day moving average of $34.71 and a 200 day moving average of $31.10. Bank of America Corp has a twelve month low of $26.21 and a twelve month high of $35.72. The firm has a market capitalization of $300.62 billion, a P/E ratio of 12.18, a PEG ratio of 1.25 and a beta of 1.64. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.00.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business had revenue of $22.30 billion for the quarter, compared to analyst estimates of $22.30 billion. Bank of America had a net margin of 24.15% and a return on equity of 11.95%. Bank of America’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, analysts predict that Bank of America Corp will post 3.05 earnings per share for the current year.

BAC has been the topic of several research analyst reports. Wells Fargo & Co set a $34.00 price target on shares of Bank of America and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $33.00 price target (up from $30.00) on shares of Bank of America in a research note on Monday, November 4th. Citigroup increased their price target on shares of Bank of America from $29.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. DA Davidson initiated coverage on shares of Bank of America in a research note on Wednesday, January 8th. They set a “neutral” rating and a $36.00 price target on the stock. Finally, UBS Group lowered shares of Bank of America from a “buy” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $36.00 in a report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.29.

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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