25,712 Shares in Bank of America Corporation $BAC Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP disclosed a new position in Bank of America, buying 25,712 shares worth about $1.25 million in the first quarter.
• Bank of America recently raised its quarterly dividend 14% to $0.32 per share, signaling continued capital strength and a focus on shareholder returns.
• The bank reported better-than-expected earnings for the latest quarter, with EPS of $1.21 versus estimates of $1.13, while analysts remain broadly positive with a Moderate Buy consensus and average price target of $63.77.

Caxton Associates LLP acquired a new position in Bank of America Corporation (NYSE:BAC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,712 shares of the financial services provider's stock, valued at approximately $1,253,000.

A number of other hedge funds have also recently modified their holdings of the business. Inceptionr LLC boosted its holdings in Bank of America by 215.2% during the 1st quarter. Inceptionr LLC now owns 33,718 shares of the financial services provider's stock valued at $1,644,000 after acquiring an additional 23,020 shares during the period. Dickmeyer Boyce Financial Management Inc. purchased a new stake in Bank of America in the first quarter worth $480,000. Gibbs Wealth Management increased its stake in Bank of America by 124.6% in the first quarter. Gibbs Wealth Management now owns 48,399 shares of the financial services provider's stock worth $2,359,000 after purchasing an additional 26,849 shares during the period. MWA Asset Management lifted its position in shares of Bank of America by 2.6% during the first quarter. MWA Asset Management now owns 48,848 shares of the financial services provider's stock worth $2,381,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Bank of America during the first quarter worth $14,528,000. Institutional investors own 70.71% of the company's stock.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA's famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Analyst Ratings Changes

BAC has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $57.50 to $62.50 and gave the company an "overweight" rating in a research report on Monday, July 6th. Piper Sandler upped their target price 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. Autonomous Res reduced their target price on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price target on shares of Bank of America in a report on Tuesday, July 14th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and an average price target of $63.77.

Bank of America Stock Up 1.2%

NYSE:BAC opened at $62.00 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.28. The company has a 50-day moving average of $56.42 and a 200 day moving average of $53.36. The firm has a market cap of $439.96 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter last year, the firm posted $0.89 EPS. The company's revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts anticipate that Bank of America Corporation will post 4.65 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a boost from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America's payout ratio is 25.69%.

About Bank of America

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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