Abel Hall LLC Has $470,000 Stock Holdings in Bank of America Corporation $BAC

Key Points

• Abel Hall LLC cut its Bank of America stake by 61.7% in the first quarter, leaving it with 9,648 shares valued at about $470,000 in its latest SEC filing.
• Bank of America has seen several positive catalysts recently, including a record-high stock price, analyst price-target increases from firms like JPMorgan and Wells Fargo, and reports that large U.S. banks may explore a deal involving Fiserv’s network.
• The bank posted better-than-expected quarterly results with EPS of $1.11 on revenue of $30.27 billion, and it also paid a quarterly dividend of $0.28, implying a 1.9% annualized yield.

Abel Hall LLC trimmed its stake in shares of Bank of America Corporation (NYSE:BAC) by 61.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,648 shares of the financial services provider's stock after selling 15,570 shares during the period. Abel Hall LLC's holdings in Bank of America were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. DecisionMap Wealth Management LLC increased its position 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 acquiring an additional 182 shares in the last quarter. Money Concepts Capital Corp boosted its stake in Bank of America by 3.8% in the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after purchasing an additional 182 shares during the period. Holistic Financial Partners grew its position 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 in the last quarter. Operose Advisors LLC grew its position in Bank of America by 0.9% during the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 185 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. raised its stake in Bank of America by 1.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America reached a record high as bank stocks rallied broadly, reinforcing momentum in the shares. Bank of America Stock Hits Record High and Berkshire Hathaway Is a Big Winner
• Positive Sentiment: JPMorgan and Wells Fargo both raised their price targets on Bank of America, with each firm keeping an overweight rating, which can support bullish investor sentiment. Analyst target raises on Bank of America
• Positive Sentiment: Reuters reported that large U.S. banks, including Bank of America, are in preliminary talks to acquire Fiserv’s network, a potential strategic deal that could expand payments-related capabilities. Big US banks explore Fiserv network deal, WSJ reports
• Neutral Sentiment: Bank of America’s own market commentary stayed cautious on the broader economy, warning about elevated valuations, AI spending concerns, and a possible S&P 500 pullback; this is more of a macro view than a direct BAC-specific driver. The stock market is about to suffer a snapback...
• Neutral Sentiment: The firm also published bullish stock calls on other names such as Micron, Corning, T-Mobile, and Seagate, underscoring active research coverage but with limited direct impact on BAC shares. Bank of America Gives Astera Labs Stock a Stunning Street-High Price Target

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction 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 represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company's stock.

Bank of America Trading Up 2.0%

Shares of NYSE BAC opened at $59.90 on Tuesday. The business has a 50 day simple moving average of $53.82 and a 200 day simple moving average of $52.80. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $59.94. The stock has a market cap of $425.09 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company's revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. On average, research analysts predict that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Bank of America's dividend payout ratio is currently 27.72%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BAC shares. 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, April 16th. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Jefferies Financial Group lifted their target price on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on shares of Bank of America from $57.50 to $62.50 and gave the stock an "overweight" rating in a research report on Monday. Finally, Oppenheimer downgraded shares of Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $61.98.

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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