J.W. Cole Advisors Inc. Trims Position in Bank of America Corporation $BAC

J.W. Cole Advisors Inc. lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 7.5% in the fourth quarter, Holdings Channel reports. The fund owned 253,671 shares of the financial services provider’s stock after selling 20,530 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Bank of America were worth $13,952,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after acquiring an additional 1,603,080 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Bank of America during the third quarter valued at $482,000. Mufg Securities Americas Inc. increased its position in Bank of America by 26.6% during the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after acquiring an additional 41,809 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in Bank of America by 11.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock valued at $34,974,000 after acquiring an additional 68,093 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Bank of America by 25.0% during the third quarter. Smartleaf Asset Management LLC now owns 88,226 shares of the financial services provider’s stock valued at $4,625,000 after acquiring an additional 17,625 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BAC. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Truist Financial boosted their price target on Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Jefferies Financial Group boosted their price target on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Daiwa Securities Group boosted their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.06.

Bank of America Stock Up 3.2%

Shares of BAC stock opened at $54.06 on Friday. The company has a market capitalization of $383.62 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.89 and a beta of 1.18. Bank of America Corporation has a one year low of $43.66 and a one year high of $57.55. The company’s fifty day moving average price is $51.52 and its 200-day moving average price is $52.29. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. Sell-side analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is 27.72%.

Bank of America News Roundup

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America announced plans to launch a cross-border real-time payments solution in the third quarter, expanding its global payments offering for corporate and institutional clients and potentially improving fee generation and client retention. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Traders bought a much larger-than-normal amount of BAC call options, which can signal increased speculation that the stock will continue to move higher.
• Positive Sentiment: Multiple market updates noted that financial stocks were broadly stronger on Thursday, which likely provided a supportive backdrop for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Positive Sentiment: Several articles highlighted that Bank of America remains a favored name with analysts and hedge funds, with a high share of Buy ratings and implied upside, reinforcing the bullish longer-term view on BAC. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America also received positive publicity for Merrill advisor recognition in Barron’s rankings and for hiring nearly 4,000 interns and campus recruits, but these are more reputational than near-term earnings catalysts. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron’s Lists
• Negative Sentiment: Jim Cramer’s cautious comments that “there’s something that’s not that great happening there” may have added a small amount of skepticism, though this appears less influential than the upbeat business headlines. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Insider Transactions at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.