16,000 Shares in Bank of America Corporation $BAC Acquired by Capital Management Associates NY

Key Points

• Capital Management Associates NY opened a new position in Bank of America, buying 16,000 shares in the fourth quarter worth about $880,000.
• Bank of America recently reported strong quarterly results, with EPS of $1.11 topping estimates and revenue of $30.27 billion also beating forecasts. Revenue rose 10.7% year over year.
• The company also announced a quarterly dividend of $0.28 per share, equal to an annualized yield of about 2.2%, while analysts currently rate the stock a consensus “Moderate Buy.”

Capital Management Associates NY bought a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,000 shares of the financial services provider's stock, valued at approximately $880,000.

Other hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the 3rd quarter worth approximately $27,000. Legacy Bridge LLC grew its stake in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Collier Financial bought a new position in shares of Bank of America during the 3rd quarter worth approximately $30,000. Joseph Group Capital Management bought a new position in shares of Bank of America during the 4th quarter worth approximately $32,000. Finally, HFM Investment Advisors LLC grew its stake in shares of Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after acquiring an additional 532 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 354,588 shares of company stock worth $17,814,296. Insiders own 0.27% of the company's stock.

Bank of America Stock Up 0.0%

BAC opened at $51.81 on Tuesday. Bank of America Corporation has a fifty-two week low of $42.35 and a fifty-two week high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $367.64 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.88 and a beta of 1.21. The stock has a fifty day moving average of $50.75 and a 200-day moving average of $52.36.

Bank of America (NYSE:BAC - Get Free Report) last posted 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 business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Bank of America Corporation will post 4.46 EPS for the current year.

Bank of America Dividend Announcement

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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's 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 received a consensus “Moderate Buy” rating from brokerages, signaling that analysts remain broadly constructive on BAC despite recent market uncertainty. Bank of America Corporation NYSE: BAC Receives Consensus Recommendation of "Moderate Buy" from Brokerages
• Positive Sentiment: Major U.S. banks, including peers of Bank of America, cleared the Fed and FDIC review of their living wills, reducing regulatory overhang and supporting confidence in the banking sector. JPM, WFC & Others Clear Key Regulatory Hurdle on Living Wills
• Neutral Sentiment: One commentary piece highlighted Bank of America’s progress as a digital banking leader, but also said the stock still looks pricey/cautious from a valuation perspective, creating a mixed takeaway rather than a clear bullish catalyst. Bank of America (BAC) Has Become a Digital Leader. I’m Still Cautious on the Stock
• Neutral Sentiment: Broader market commentary about high bond yields, AI stock concentration, and a possible bubble environment could add some caution for financial stocks, but it is not a direct Bank of America-specific negative. Bond Strategists Warn Yields to Stay High Even If Iran War Ends
• Negative Sentiment: Bank of America’s contrarian market warning about extreme AI-stock concentration suggests the firm is signaling caution on risk appetite, which could weigh on sentiment if investors interpret it as a bearish market call. Bank of America Issues Rare Contrarian Sell Warning as AI Stock Concentration Soars

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BAC. Oppenheimer raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Piper Sandler raised their price target on shares of Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Evercore decreased their target price on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Finally, Morgan Stanley decreased their target price on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

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