Blue Fin Capital Inc. Sells 1,247 Shares of Bank of America Co. (NYSE:BAC)

Blue Fin Capital Inc. lessened its stake in Bank of America Co. (NYSE:BAC) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,416 shares of the financial services provider’s stock after selling 1,247 shares during the period. Blue Fin Capital Inc.’s holdings in Bank of America were worth $1,431,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BAC. Roundview Capital LLC grew its position in Bank of America by 1.5% in the 1st quarter. Roundview Capital LLC now owns 135,764 shares of the financial services provider’s stock worth $5,596,000 after purchasing an additional 2,013 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Bank of America by 150.3% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,985 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,192 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Bank of America by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 405,098 shares of the financial services provider’s stock worth $16,698,000 after acquiring an additional 16,319 shares during the last quarter. First Western Trust Bank purchased a new position in shares of Bank of America during the 1st quarter worth $586,000. Finally, Pearl River Capital LLC purchased a new position in shares of Bank of America during the 1st quarter worth $534,000. Institutional investors own 68.34% of the company’s stock.

Insider Transactions at Bank of America

In other news, major shareholder Of America Corp /De/ Bank sold 4 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $23,750.00, for a total value of $95,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Bank of America Stock Up 1.9 %

Shares of BAC stock opened at $33.85 on Monday. The stock has a market cap of $271.56 billion, a P/E ratio of 10.61, a PEG ratio of 1.37 and a beta of 1.39. Bank of America Co. has a 52 week low of $29.31 and a 52 week high of $50.11. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $34.46 and its two-hundred day simple moving average is $34.02.

Bank of America (NYSE:BACGet Rating) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $24.50 billion for the quarter, compared to analysts’ expectations of $24.17 billion. Bank of America had a net margin of 23.93% and a return on equity of 11.41%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 EPS. Analysts predict that Bank of America Co. will post 3.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Bank of America from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 3rd. Citigroup lifted their price target on shares of Bank of America from $36.00 to $38.00 in a research note on Tuesday, January 17th. BMO Capital Markets lifted their price target on shares of Bank of America from $41.00 to $42.00 in a research note on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft cut shares of Bank of America from a “buy” rating to a “hold” rating and lowered their target price for the company from $45.00 to $36.00 in a research note on Friday, January 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Bank of America from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.75.

Bank of America Company Profile

(Get Rating)

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.

See Also

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

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