55 North Private Wealth LLC Invests $2.19 Million in Bank of America Corporation $BAC

Key Points

• 55 North Private Wealth LLC opened a new position in Bank of America, purchasing 39,724 shares valued at about $2.19 million, which represents 0.6% of the firm's holdings and its 28th-largest position.
• Bank of America beat Q1 expectations, reporting adjusted EPS of $1.11 (vs. $1.00 consensus) and revenue of $30.27 billion (+10.7% YoY), which spurred multiple analyst price‑target upgrades and a consensus target of $60.90.
• Insiders have been net sellers, disposing of 227,832 shares (~$11.09 million) in the past 90 days — including large sales by Bernard A. Mensah and James P. Demare — with corporate insiders now owning just 0.27% of the company.

55 North Private Wealth LLC purchased a new position in Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,724 shares of the financial services provider's stock, valued at approximately $2,185,000. Bank of America accounts for 0.6% of 55 North Private Wealth LLC's holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DecisionMap Wealth Management LLC raised its holdings in shares of Bank of America by 4.7% in the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock worth $223,000 after buying an additional 182 shares during the period. Holistic Financial Partners increased its holdings in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after purchasing an additional 183 shares during the period. Riverview Capital Advisers LLC increased its holdings in Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after purchasing an additional 188 shares during the period. Shepherd Financial Partners LLC increased its holdings in Bank of America by 0.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock worth $3,110,000 after purchasing an additional 189 shares during the period. Finally, William B. Walkup & Associates Inc. increased its holdings in Bank of America by 1.4% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock worth $723,000 after purchasing an additional 192 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider owned 307,240 shares of the company's stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,832 shares of company stock worth $11,094,960 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

Bank of America Stock Performance

Shares of BAC stock opened at $53.92 on Monday. The stock has a market cap of $385.31 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23. The business has a 50-day simple moving average of $50.45 and a 200-day simple moving average of $52.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 52-week low of $36.49 and a 52-week high of $57.55.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm 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 dividend yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America's payout ratio is currently 27.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BAC shares. Oppenheimer lifted their price target on Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial lifted their price target on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. Finally, Erste Group Bank downgraded Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.90.

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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