18,779 Shares in Bank of America Corporation $BAC Bought by Calton & Associates Inc.

Key Points

• Calton & Associates Inc. opened a new position in Bank of America, buying 18,779 shares in the fourth quarter worth about $1.03 million.
• Institutional interest in BAC remains strong overall, with 70.71% of shares held by institutions and hedge funds, while analysts currently rate the stock a Moderate Buy with an average price target of $61.06.
• Bank of America reported better-than-expected quarterly results, with EPS of $1.11 and revenue of $30.27 billion, and it also announced a quarterly dividend of $0.28 per share payable June 26.

Calton & Associates Inc. bought a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,779 shares of the financial services provider's stock, valued at approximately $1,033,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Handelsbanken Fonder AB boosted its position in shares of Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock worth $254,625,000 after acquiring an additional 1,603,080 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Bank of America during the 3rd quarter worth about $482,000. Mufg Securities Americas Inc. boosted its position in shares of Bank of America by 26.6% during the 3rd quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider's stock worth $10,262,000 after acquiring an additional 41,809 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of Bank of America by 11.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider's stock worth $34,974,000 after acquiring an additional 68,093 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Bank of America by 25.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 88,226 shares of the financial services provider's stock worth $4,625,000 after acquiring an additional 17,625 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BAC shares. Piper Sandler boosted their target price on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. UBS Group boosted their target price on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Evercore reduced their target price on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Daiwa Securities Group boosted their target price on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Finally, Argus boosted their target price on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America said it will hire nearly 4,000 summer interns and campus recruits this year, signaling continued investment in talent even as AI changes the labor market. BofA to Welcome Nearly 4,000 Summer Interns and Campus Recruits
• Positive Sentiment: The bank partnered with FIFA and Vet Tix to provide $2.25 million in free World Cup tickets to veterans, military members, first responders and their families, supporting its consumer-facing brand and community profile. Bank of America and FIFA partner with Vet Tix to Offer Thousands of Free FIFA World Cup 2026 Tickets
• Positive Sentiment: Analysts highlighted Bank of America’s large deposit base as a strength, saying its low-cost funding supports net interest income and earnings growth across rate cycles. Does Bank of America's Deposit Franchise Power Earnings Growth?
• Neutral Sentiment: CEO Brian Moynihan discussed consumer spending, affordability, lending and AI investment, reinforcing the bank’s focus on growth but offering no immediate catalyst by itself. BofA CEO Moynihan on Affordability, Lending and AI Spending
• Neutral Sentiment: Bank of America disclosed that it exited a substantial stake in Dyno Nobel, a routine portfolio adjustment that is not clearly tied to BAC’s core banking outlook. Bank of America exits substantial stake in Dyno Nobel

Insider Buying and Selling

In other news, 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 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 represents a 35.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Down 0.0%

BAC opened at $52.46 on Thursday. The business has a 50 day moving average price of $51.40 and a two-hundred day moving average price of $52.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $372.27 billion, a PE ratio of 12.98, a P/E/G ratio of 0.89 and a beta of 1.18. Bank of America Corporation has a 52 week low of $43.66 and a 52 week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate 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%.The firm's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. As a group, research analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid 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 of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is 27.72%.

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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