Synergy Asset Management LLC Trims Stake in Bank of America Corporation $BAC

Synergy Asset Management LLC cut its stake in Bank of America Corporation (NYSE:BAC) by 82.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,557 shares of the financial services provider’s stock after selling 100,872 shares during the quarter. Synergy Asset Management LLC’s holdings in Bank of America were worth $1,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Permanent Capital Management LP acquired a new position in shares of Bank of America in the third quarter worth about $649,000. Meridian Wealth Management LLC increased its stake in shares of Bank of America by 54.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after purchasing an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. increased its stake in shares of Bank of America by 15.9% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after purchasing an additional 86,290 shares in the last quarter. World Equity Group Inc. raised its holdings in Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock worth $3,779,000 after purchasing an additional 13,119 shares during the period. Finally, AdvisorShares Investments LLC purchased a new position in Bank of America during the third quarter worth approximately $482,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $48.21 on Friday. The company’s 50-day moving average price is $51.15 and its 200-day moving average price is $52.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $344.49 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.19 and a beta of 1.28. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. Bank of America’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. On average, sell-side analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio is presently 29.24%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BAC shares. Barclays boosted their price objective on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Erste Group Bank cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. TD Cowen reduced their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Argus lifted their target price on shares of Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Jefferies Financial Group started coverage on shares of Bank of America in a research report on Thursday. They set a “buy” rating and a $60.00 price target for the company. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $59.88.

Bank of America News Roundup

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

• Positive Sentiment: Launched a Private Capital M&A Group to help private equity firms exit portfolio companies — could drive incremental investment‑banking fee revenue if PE deal flow ramps. Bank Of America Launches Private Capital M&A Unit
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to automate advisor prep, notetaking and follow-up — could reduce advisor time/costs and help retain/grow advisory AUM and revenue. Merrill and Bank of America Private Bank Launch AI-Powered Meeting Journey
• Positive Sentiment: Jefferies initiated coverage with a Buy and $60 price target — a visible analyst vote of confidence that can support buy-side interest and help sentiment if other shops follow. Jefferies Starts Coverage (Benzinga link)
• Neutral Sentiment: BofA research continues to lead calls in AI/infra names (e.g., bullish takes on Nebius/CoreWeave) — highlights the strength of its equities/research business but has only an indirect impact on BAC’s own stock. Nebius (NBIS) Stock Surges on BofA Buy Rating as AI Cloud 3.5 Platform Debuts
• Negative Sentiment: Goldman reduced its price target on BAC from $67 to $57 while maintaining a Buy — the cut removes some upside and can weigh on sentiment in the near term. Goldman Sachs Lowers Bank of America (BAC) Price Target to $57
• Negative Sentiment: Broader financials weakness (XLF weakness, compressed net interest margins and mortgage headwinds) is pressuring BAC alongside the sector — macro/sector trends remain the largest near-term drag.

Insiders Place Their Bets

In other news, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were 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 owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last three months. 0.30% of the stock is currently owned by insiders.

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.