SBI Okasan Asset Management Co.Ltd. bought a new stake in Bank of America Corporation (NYSE:BAC) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,000 shares of the financial services provider’s stock, valued at approximately $775,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in Bank of America by 53.0% during the 4th 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. Meridian Wealth Management LLC raised its stake in Bank of America by 54.6% during 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 acquiring an additional 20,591 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Bank of America during the 3rd quarter valued at approximately $482,000. Mufg Securities Americas Inc. raised its stake in Bank of America by 26.6% during the 3rd 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. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in Bank of America by 11.2% during the 3rd 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. 70.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on BAC. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Piper Sandler upped their price objective on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Autonomous Res reduced their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Finally, Daiwa Securities Group upped their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.
Bank of America Stock Performance
NYSE BAC opened at $51.56 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $51.11 and its two-hundred day moving average is $52.32. Bank of America Corporation has a 12-month low of $43.36 and a 12-month high of $57.55. The stock has a market capitalization of $365.91 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.86 and a beta of 1.21.
Bank of America (NYSE:BAC – Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts expect that Bank of America Corporation will post 4.45 EPS for the current year.
Bank of America Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s payout ratio is presently 27.72%.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
- Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
- Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
- Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?
Insiders Place Their Bets
In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 354,588 shares of company stock worth $17,814,296. Company insiders own 0.27% of the company’s stock.
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.
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