Synergy Asset Management LLC Sells 100,872 Shares of Bank of America Corporation $BAC

Synergy Asset Management LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 82.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BAC. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the 3rd quarter worth approximately $27,000. Steph & Co. lifted its position in Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares during the last quarter. Collier Financial acquired a new stake in Bank of America in the third quarter valued at approximately $30,000. Marquette Asset Management LLC purchased a new position in Bank of America in the third quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Bank of America in the third quarter worth $31,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Piper Sandler upped their target price on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. increased their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Oppenheimer increased their price target on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, HSBC boosted their price target on Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.

Bank of America Stock Performance

Shares of BAC stock opened at $48.21 on Friday. The business has a fifty day moving average of $51.15 and a 200 day moving average of $52.28. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $344.49 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors 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 29.24%.

Insiders Place Their Bets

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the firm’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 transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction 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 directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is owned by insiders.

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.