50,000 Shares in Bank of America Corporation $BAC Purchased by Ally Financial Inc.

Ally Financial Inc. bought a new position in shares of Bank of America Corporation (NYSE:BAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,000 shares of the financial services provider's stock, valued at approximately $2,750,000.

Other hedge funds also recently bought and sold shares of the company. Legacy Bridge LLC boosted its stake in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after buying an additional 330 shares during the period. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter worth about $27,000. Joseph Group Capital Management purchased a new position in Bank of America during the fourth quarter worth about $32,000. HFM Investment Advisors LLC boosted its stake in Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after buying an additional 532 shares during the period. Finally, Coston McIsaac & Partners boosted its stake in Bank of America by 90.2% during the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock worth $36,000 after buying an additional 314 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Key Stories Impacting 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

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Robert W. Baird raised their price objective on shares of Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Argus lifted their price target on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Autonomous Res decreased their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. UBS Group lifted their price target on shares of Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm's 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 sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Bank of America Stock Up 1.5%

BAC stock opened at $55.96 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a twelve month low of $43.66 and a twelve month high of $57.55. The company's 50 day moving average is $52.29 and its two-hundred day moving average is $52.41. The stock has a market cap of $397.15 billion, a P/E ratio of 13.85, a PEG ratio of 0.95 and a beta of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Research 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders 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 dividend on an annualized basis and a yield of 2.0%. Bank of America's dividend payout ratio (DPR) is presently 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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