Bank of America Corporation (NYSE:BAC) Shares Acquired by OneAscent Family Office LLC

OneAscent Family Office LLC raised its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 122.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,168 shares of the financial services provider's stock after buying an additional 10,000 shares during the period. OneAscent Family Office LLC's holdings in Bank of America were worth $758,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Bank of America by 35.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock worth $37,797,000 after purchasing an additional 226,246 shares during the period. Proficio Capital Partners LLC boosted its position in Bank of America by 65.3% in the 4th quarter. Proficio Capital Partners LLC now owns 20,252 shares of the financial services provider's stock valued at $890,000 after buying an additional 7,999 shares during the last quarter. Washington Trust Bank raised its stake in shares of Bank of America by 1.2% in the 4th quarter. Washington Trust Bank now owns 54,857 shares of the financial services provider's stock valued at $2,411,000 after purchasing an additional 677 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Bank of America during the fourth quarter worth about $546,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group lifted their target price on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Oppenheimer reduced their price objective on shares of Bank of America from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Piper Sandler cut their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Baird R W lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group raised their target price on shares of Bank of America from $46.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.03.

Bank of America Stock Performance

BAC traded up $0.28 during trading on Wednesday, hitting $48.05. The stock had a trading volume of 11,217,131 shares, compared to its average volume of 40,322,596. The company has a 50 day moving average price of $45.53 and a 200-day moving average price of $43.64. The firm has a market cap of $361.91 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.85 and a beta of 1.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.80 and a quick ratio of 0.79. Bank of America Corporation has a one year low of $33.07 and a one year high of $49.31.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The business had revenue of ($22,273.00) million for the quarter, compared to analyst estimates of $26.79 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.81%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. As a group, research analysts predict that Bank of America Corporation will post 3.7 EPS for the current 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.