40,000 Shares in Bank of America Corporation $BAC Acquired by Diversified Management Inc.

Key Points

• Diversified Management Inc. purchased a new stake of 40,000 shares of Bank of America (BAC) in Q4, valued at approximately $2.2 million.
• Bank of America beat Q1 estimates with EPS of $1.11 (vs. $1.00) and revenue of $30.27B, boosted by strong equity trading, resilient consumer card volumes and wealth-management inflows; analysts’ consensus is a "Moderate Buy" with a $59.60 price target.
• Insiders have been net sellers—227,832 shares (~$11.1M) were sold in the last 90 days—while institutional investors own about 70.71% of BAC and several large funds materially increased their holdings.

Diversified Management Inc. purchased a new stake in shares of 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 (SEC). The firm purchased 40,000 shares of the financial services provider's stock, valued at approximately $2,200,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAC. Capital World Investors grew its position in shares of Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock valued at $7,448,816,000 after acquiring an additional 14,275,810 shares during the period. Fisher Asset Management LLC grew its position in shares of Bank of America by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider's stock valued at $2,717,657,000 after acquiring an additional 1,272,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 during the period. Legal & General Group Plc grew its position in shares of Bank of America by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider's stock valued at $2,266,045,000 after acquiring an additional 1,458,551 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Bank of America by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider's stock valued at $1,581,350,000 after acquiring an additional 640,462 shares during the period. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAC. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $57.00 price objective for the company in a research report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their target price on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. CICC Research began coverage on shares of Bank of America in a research note on Wednesday, January 14th. They set an "outperform" rating and a $62.00 target price on the stock. Finally, TD Cowen lowered their target price on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.60.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Quarterly beat — BAC reported GAAP EPS of $1.11 and revenue of ~$30.3B, topping Street estimates and driving the initial market reaction. Bank of America: Q1 Earnings Snapshot
• Positive Sentiment: Equities trading surge — volatility pushed equities revenue sharply higher (record/near‑decade revenues for equity trading), lifting fee income and overall profitability. Bank of America profit rises as trading shines
• Positive Sentiment: Consumer resilience — card volumes and payments activity stayed strong (card volumes up ~7%, >$1T in consumer flows), indicating steady consumer spending that supports loan and fee growth. BofA’s Q1 Shows the US Consumer Won’t Flinch, Card Volumes Up 7%
• Positive Sentiment: Wealth-management inflows — Merrill/private‑bank flows added meaningful AUM ($20.4B for the quarter), supporting fee diversification and recurring revenue. Morgan Stanley and Bank of American Wealth Units Bring in Billions of New Money
• Neutral Sentiment: Management tone: upbeat on momentum but cautious on evolving risks — executives flagged macro/geopolitical uncertainty even as results beat, which may temper upside if conditions shift. Big Bank Earnings Show Consumers Are on Solid Ground—Against All Odds
• Negative Sentiment: Fixed‑income weakness — some fixed‑income trading and desk results lagged peers/estimates, limiting offset to rate and margin pressures in parts of the business. Bank of America beats profit estimates as trading, wealth income drive growth
• Negative Sentiment: Broader macro caution — BofA survey data shows investors trimming growth expectations sharply, a reminder that deteriorating macro sentiment or geopolitical shocks could weigh on future revenue and credit metrics. Investors Slash Growth Views by Most in Four Years, BofA Says

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares of the company's stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the transaction, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last 90 days. Company insiders own 0.27% of the company's stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $54.31 on Thursday. Bank of America Corporation has a 52 week low of $36.49 and a 52 week high of $57.55. The stock has a market capitalization of $388.08 billion, a P/E ratio of 14.18, a PEG ratio of 0.93 and a beta of 1.23. The firm has a fifty day simple moving average of $50.53 and a two-hundred day simple moving average of $52.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

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 analysts' consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same period last year, the company posted $0.90 EPS. The business's revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business 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 yield of 2.1%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America's dividend payout ratio (DPR) is currently 29.24%.

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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