Vontobel Holding Ltd. Decreases Stock Holdings in Bank of America Co. (NYSE:BAC)

Vontobel Holding Ltd. lowered its stake in Bank of America Co. (NYSE:BAC) by 19.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 406,207 shares of the financial services provider’s stock after selling 97,462 shares during the quarter. Vontobel Holding Ltd.’s holdings in Bank of America were worth $12,454,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Congress Park Capital LLC increased its position in Bank of America by 32.0% during the third quarter. Congress Park Capital LLC now owns 43,420 shares of the financial services provider’s stock valued at $1,311,000 after acquiring an additional 10,525 shares during the last quarter. Northwest Wealth Management LLC increased its holdings in Bank of America by 31.0% during the second quarter. Northwest Wealth Management LLC now owns 7,441 shares of the financial services provider’s stock valued at $232,000 after buying an additional 1,760 shares during the last quarter. Main Street Financial Solutions LLC raised its position in Bank of America by 3.0% in the second quarter. Main Street Financial Solutions LLC now owns 24,286 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 717 shares during the period. Virtu Financial LLC boosted its stake in shares of Bank of America by 211.9% during the 2nd quarter. Virtu Financial LLC now owns 103,594 shares of the financial services provider’s stock worth $3,225,000 after acquiring an additional 70,379 shares during the last quarter. Finally, Corundum Group Inc. increased its stake in shares of Bank of America by 16.8% in the 2nd quarter. Corundum Group Inc. now owns 22,658 shares of the financial services provider’s stock worth $705,000 after purchasing an additional 3,262 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.

Bank of America Stock Up 0.7 %

Shares of BAC stock opened at $34.57 on Wednesday. The company’s fifty day simple moving average is $34.33 and its two-hundred day simple moving average is $34.06. Bank of America Co. has a 52 week low of $29.31 and a 52 week high of $50.11. The stock has a market cap of $277.34 billion, a P/E ratio of 10.84, a PEG ratio of 1.39 and a beta of 1.39. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 1.13.

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

Insider Activity

In related news, major shareholder Of America Corp /De/ Bank sold 4 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $23,750.00, for a total value of $95,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of America Company Profile

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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.