167,366 Shares in Bank of America Corporation $BAC Purchased by Perryman Financial Advisory Inc. AD

Key Points

• Perryman Financial Advisory Inc. AD opened a new position in Bank of America, buying 167,366 shares valued at about $9.2 million. The stake makes BAC about 1.4% of the firm’s portfolio and its 19th-largest holding.
• Several other major institutional investors also increased or initiated positions in Bank of America, and hedge funds and other institutions now own 70.71% of the stock. Notable buyers included Norges Bank, Capital International Investors, Vanguard, and UBS AM.
• Bank of America reported Q1 EPS of $1.11, topping estimates, and the company declared a quarterly dividend of $0.28 per share. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $61.06.

Perryman Financial Advisory Inc. AD acquired a new position in Bank of America Corporation (NYSE:BAC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 167,366 shares of the financial services provider's stock, valued at approximately $9,205,000. Bank of America comprises about 1.4% of Perryman Financial Advisory Inc. AD's portfolio, making the stock its 19th biggest position.

Several other large investors also recently added to or reduced their stakes in BAC. Norges Bank purchased a new stake in Bank of America in the 4th quarter worth about $4,774,210,000. Capital International Investors purchased a new stake in Bank of America in the 4th quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Bank of America by 640.5% in 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 worth $2,399,798,000 after acquiring an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the last quarter. Finally, Cardano Risk Management B.V. increased its holdings in Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock worth $1,380,239,000 after acquiring an additional 22,621,546 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction dated 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 transaction, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

Bank of America Stock Down 0.1%

Shares of NYSE BAC opened at $55.96 on Monday. Bank of America Corporation has a 12 month low of $43.66 and a 12 month high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.95 and a beta of 1.19. The business has a 50-day moving average of $52.29 and a 200-day moving average of $52.42.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Bank of America's revenue was up 10.7% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America's payout ratio is presently 27.72%.

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Oppenheimer lifted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price target on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Robert W. Baird upped their price target on Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Argus upped their price target on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research report on Friday, April 24th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.06.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time. Bank of America Corporation
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

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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