TD Asset Management Inc Purchases 94,847 Shares of Bank of America Corporation $BAC

TD Asset Management Inc boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,950,091 shares of the financial services provider’s stock after purchasing an additional 94,847 shares during the period. TD Asset Management Inc’s holdings in Bank of America were worth $162,255,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Bridge LLC grew its stake in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new position in Bank of America in the 3rd quarter worth about $27,000. Collier Financial bought a new position in Bank of America in the 3rd quarter worth about $30,000. Joseph Group Capital Management bought a new position in Bank of America in the 4th quarter worth about $32,000. Finally, HFM Investment Advisors LLC grew its stake in Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 532 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by company insiders.

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”

Bank of America Price Performance

NYSE BAC opened at $54.06 on Friday. 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 firm’s 50 day moving average price is $51.52 and its 200-day moving average price is $52.29. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. The company has a market cap of $383.62 billion, a PE ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 1.18.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast 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 dividend of $0.28 per share. The ex-dividend date 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 (DPR) is currently 27.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $59.00 target price on shares of Bank of America in a research note on Thursday, April 16th. Jefferies Financial Group upped their target price on shares of Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, UBS Group upped their target price on shares of Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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.