Smithbridge Asset Management Inc. DE Acquires 11,012 Shares of Bank of America Corporation $BAC

Smithbridge Asset Management Inc. DE boosted its holdings in Bank of America Corporation (NYSE:BAC) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,024 shares of the financial services provider’s stock after purchasing an additional 11,012 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Bank of America were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BAC. Wiser Advisor Group LLC bought a new stake in Bank of America in the third quarter worth approximately $27,000. Legacy Bridge LLC increased its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Joseph Group Capital Management bought a new stake in Bank of America in the fourth quarter valued at $32,000. HFM Investment Advisors LLC increased its stake in Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners increased its stake in Bank of America by 90.2% in the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 314 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Bank of America Trading Up 0.3%

NYSE:BAC opened at $54.59 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $52.03 and a 200-day moving average of $52.36. The company has a market cap of $387.39 billion, a PE ratio of 13.51, a PEG ratio of 0.92 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.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate 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 company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued 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 2.1%. Bank of America’s dividend payout ratio is 27.72%.

Bank of America News Summary

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

• Positive Sentiment: Bank of America launched new card and client-rewards offerings, including Custom Pay Plan, a Refer-a-Friend bonus program, and enhanced credit-monitoring tools, which could support card usage, customer retention, and fee income. Article Title
• Positive Sentiment: Management said trading revenue is running better than expected, with markets business revenue potentially exceeding 15% growth in Q2, supported by equities strength. Article Title
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, FX, and payments solutions in Asia Pacific, suggesting continued momentum in global transaction services. Article Title
• Positive Sentiment: The bank also expanded its FIFA World Cup 2026 marketing campaign, which may help brand awareness and customer acquisition, though the direct financial impact is less immediate. Article Title
• Neutral Sentiment: Bank of America’s in-house research has turned more cautious on the broader market, warning that multiple bear-market and “take profits” signals are flashing. This reflects the firm’s market outlook rather than BAC’s own fundamentals. Article Title
• Negative Sentiment: The U.S. Justice Department reportedly opened a debanking probe and subpoenaed major banks, including Bank of America, seeking records on accounts that were closed for possible political reasons. That raises regulatory and reputational risk. Article Title

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Evercore decreased their price objective on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Royal Bank Of Canada restated an “outperform” rating and set a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. Finally, Autonomous Res decreased their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.