13,315 Shares in Bank of America Corporation $BAC Bought by Bingham Private Wealth LLC

Key Points

• Bingham Private Wealth opened a new position in Bank of America in the fourth quarter, buying 13,315 shares worth about $732,000, while institutional investors now own roughly 70.71% of BAC and large funds like UBS and Capital World Investors have materially increased stakes.
• Several analysts trimmed price targets recently (UBS, JPMorgan, Oppenheimer, Evercore), but the consensus remains a “Moderate Buy” with an average price target of $59.10 (23 Buy, 5 Hold).
• Corporate insiders sold a total of 227,832 shares (≈$11.09M) in the last 90 days and now own just 0.27% of the company; BAC pays a $0.28 quarterly dividend (~2.1% yield) with a ~29% payout ratio.

Bingham Private Wealth LLC bought a new position in Bank of America Corporation (NYSE:BAC) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 13,315 shares of the financial services provider's stock, valued at approximately $732,000.

Several other large investors have also bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after acquiring an additional 40,235,201 shares in the last quarter. Capital World Investors boosted its stake in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares during the period. Danske Bank A S bought a new position in Bank of America in the 3rd quarter worth about $224,863,000. Capitolis Liquid Global Markets LLC boosted its position in shares of Bank of America by 52.0% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider's stock valued at $644,681,000 after acquiring an additional 4,273,472 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Bank of America during the 3rd quarter valued at about $218,030,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group dropped their target price on Bank of America from $67.00 to $62.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Oppenheimer reduced their price target on Bank of America from $63.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, March 27th. Evercore dropped their price target on Bank of America from $59.00 to $55.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. Finally, Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.10.

Insider Activity at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction 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 $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction 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 approximately $15,362,000. This represents a 21.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,832 shares of company stock worth $11,094,960 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Performance

Shares of BAC opened at $53.34 on Wednesday. The stock has a market cap of $381.15 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.93 and a beta of 1.23. The stock has a 50-day moving average of $50.55 and a two-hundred day moving average of $52.22. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a one year low of $36.49 and a one year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $27.73 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America's payout ratio is currently 29.24%.

Key Bank of America News

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

• Positive Sentiment: High-profile bullish commentary boosts investor confidence: Jim Cramer said Bank of America should deliver “solid” results heading into bank earnings, giving retail momentum a supportive narrative. Jim Cramer Says “Bank of America Will Be Solid”
• Positive Sentiment: Street expectations are constructive: previews suggest BAC could extend a long run of earnings beats (Benzinga highlights the possibility of a 15th straight beat), which supports upside if results and guidance beat. Bank of America Q1 Preview: Buffett's Favorite Bank Eyes 15th Straight Earnings Beat
• Neutral Sentiment: Key catalyst — Q1 earnings tomorrow: analysts and investors will parse NII, trading revenues, expenses and credit costs for signs of durable margin or credit deterioration; a clean beat could lift the stock, a soft print or cautious guidance could pressure it. What to expect from Bank of America's Q1 earnings?
• Neutral Sentiment: Income-focused angle: articles laying out dividend/option strategies remind income investors of BAC’s ~2% yield; useful for yield-seeking flows but unlikely to move the stock absent a payout change. How To Earn $500 A Month From Bank of America Stock Ahead Of Q1 Earnings
• Neutral Sentiment: Corporate update: a local leadership change (Oklahoma City president named) is operationally routine and has limited market impact. BofA Names Olena Lifset Oklahoma City President
• Negative Sentiment: An analyst move trimmed BAC’s price target by $5 while keeping a buy rating — that suggests some moderation in near-term upside expectations from that shop and can temper momentum. Bank of America (BAC) price target trimmed by $5, 'buy' rating maintained
• Negative Sentiment: Widening macro caution: Bank of America’s own fund-manager survey and sector commentary show investors cutting growth expectations and banks warning about economic and geopolitical risks; weaker macro sentiment can pressure cyclicals like banks if it persists. Investors Slash Growth Views by Most in Four Years, BofA Says
• Negative Sentiment: Sector-level caution despite trading strength: Reuters reports banks saw strong trading revenue but flagged client caution on economic risks—mixed results for trading may not fully offset credit/expense concerns. Banks show trading strength, caution on economic risk

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.

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