111 Capital Buys Shares of 24,540 Bank of America Corporation $BAC

Key Points

• 111 Capital initiated a new position in Bank of America during the fourth quarter, buying 24,540 shares valued at about $1.35 million.
• Bank of America reported strong first-quarter earnings, with EPS of $1.11 and revenue of $30.27 billion, both ahead of Wall Street expectations.
• The company also declared a quarterly dividend of $0.28 per share, equal to an annualized yield of about 2.1%, while analysts remain broadly positive with a Moderate Buy consensus.

111 Capital bought a new stake in Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 24,540 shares of the financial services provider's stock, valued at approximately $1,350,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lowe Brockenbrough & Co. Inc. raised its holdings in Bank of America by 2.7% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 24,411 shares of the financial services provider's stock worth $1,343,000 after purchasing an additional 653 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Bank of America by 83.1% in the fourth quarter. MCF Advisors LLC now owns 55,764 shares of the financial services provider's stock worth $3,067,000 after acquiring an additional 25,301 shares during the last quarter. First Command Advisory Services Inc. raised its holdings in shares of Bank of America by 6.0% in the fourth quarter. First Command Advisory Services Inc. now owns 19,105 shares of the financial services provider's stock worth $1,051,000 after acquiring an additional 1,084 shares during the last quarter. Invst LLC raised its holdings in shares of Bank of America by 9.9% in the fourth quarter. Invst LLC now owns 4,345 shares of the financial services provider's stock worth $239,000 after acquiring an additional 393 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Bank of America by 60.7% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 689,467 shares of the financial services provider's stock worth $37,921,000 after acquiring an additional 260,353 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America announced a new cross-border real-time payments solution that will let corporate and institutional clients send and receive funds instantly via SWIFT or CashPro, a potentially meaningful growth driver for its global payments franchise. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Merrill, Bank of America’s wealth management unit, earned strong recognition across three 2026 Barron’s lists, reinforcing the quality of its advisory business and brand strength in wealth management. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron's Lists
• Positive Sentiment: Multiple articles highlighted bullish views on BAC, including references to broad analyst optimism and BAC being viewed as a low-cost stock with upside potential, which can help support investor confidence. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America and other major U.S. banks are moving ahead with a shared tokenized deposit network, a strategic industry initiative that is important long term but not an immediate earnings catalyst. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Bank of America also disclosed a 2.84% voting interest in QIAGEN, but the filing appears to be a routine ownership update rather than a major strategic shift for BAC. Bank of America Reports 2.84% Voting Interest in QIAGEN
• Negative Sentiment: Jim Cramer commented that something “not that great” may be happening at Bank of America, a bearish soundbite that could weigh on sentiment even though it was not tied to a specific fundamental warning. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Bank of America Price Performance

Shares of NYSE BAC opened at $53.87 on Friday. Bank of America Corporation has a 1-year low of $43.66 and a 1-year high of $57.55. The business has a 50-day moving average of $51.63 and a 200-day moving average of $52.30. 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 company has a market capitalization of $382.27 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.92 and a beta of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAC. Daiwa Securities Group boosted their price target on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Autonomous Res cut their price target 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. HSBC boosted their price target on Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group upped their target price on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, Oppenheimer upped their target price on Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $61.06.

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 stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was 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 directly owned 170,184 shares of the company's stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.27% of the stock is currently owned by corporate insiders.

Bank of America 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.

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