Bank of America Corporation $BAC Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC grew its position in shares of Bank of America Corporation (NYSE:BAC) by 4.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 427,643 shares of the financial services provider’s stock after buying an additional 17,772 shares during the quarter. HB Wealth Management LLC’s holdings in Bank of America were worth $20,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BAC. DecisionMap Wealth Management LLC boosted its holdings in shares of Bank of America by 4.7% in the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 182 shares in the last quarter. Money Concepts Capital Corp increased its holdings in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 182 shares in the last quarter. Holistic Financial Partners raised its position in Bank of America by 2.4% in the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 183 shares during the last quarter. Operose Advisors LLC raised its position in Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its stake in Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Bank of America analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

Insider Transactions at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group raised their target price on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Daiwa Securities Group increased their price objective on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Argus raised their price objective on shares of Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Bank of America Stock Down 0.1%

NYSE BAC opened at $58.67 on Friday. The stock has a market capitalization of $416.35 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $59.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $53.82 and a 200-day moving average of $52.82.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion for 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.49 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Bank of America’s dividend payout ratio is presently 27.72%.

About Bank of America

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.