Atalanta Sosnoff Capital LLC Boosts Stock Holdings in Bank of America Corp (NYSE:BAC)

Atalanta Sosnoff Capital LLC grew its position in shares of Bank of America Corp (NYSE:BAC) by 408.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,216 shares of the financial services provider’s stock after purchasing an additional 34,717 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Bank of America were worth $1,522,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BAC. Garrett Wealth Advisory Group LLC purchased a new stake in Bank of America in the 3rd quarter worth $25,000. Larson Financial Group LLC increased its holdings in Bank of America by 195.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 880 shares in the last quarter. Corbenic Partners LLC purchased a new stake in Bank of America in the 4th quarter worth $39,000. Salomon & Ludwin LLC increased its holdings in Bank of America by 120.6% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,489 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 814 shares in the last quarter. Finally, Selective Wealth Management Inc. purchased a new stake in Bank of America in the 3rd quarter worth $43,000. 69.21% of the stock is owned by hedge funds and other institutional investors.

BAC traded down $0.24 on Thursday, hitting $34.12. 45,691,377 shares of the company’s stock were exchanged, compared to its average volume of 47,292,156. Bank of America Corp has a fifty-two week low of $26.21 and a fifty-two week high of $35.72. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $34.69 and a 200-day moving average price of $31.08. The stock has a market cap of $305.02 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.25 and a beta of 1.64.

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

Several brokerages recently commented on BAC. Odeon Capital Group raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Morgan Stanley reissued a “buy” rating and issued a $38.00 price target (up previously from $35.00) on shares of Bank of America in a report on Monday, November 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $33.00 target price (up previously from $30.00) on shares of Bank of America in a research note on Monday, November 4th. Argus reaffirmed a “buy” rating and set a $39.00 target price (up previously from $35.00) on shares of Bank of America in a research note on Wednesday, January 15th. Finally, Societe Generale cut shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. 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 company. The stock currently 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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