AE Wealth Management LLC raised its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,508,829 shares of the financial services provider's stock after purchasing an additional 554,220 shares during the quarter. AE Wealth Management LLC's holdings in Bank of America were worth $82,986,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in BAC. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the third quarter worth $27,000. Legacy Bridge LLC raised its holdings in shares of Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in Bank of America in the third quarter worth about $30,000. Collier Financial purchased a new stake in Bank of America in the third quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Bank of America in the third quarter worth about $31,000. 70.71% of the stock is currently owned by institutional investors.
Bank of America Stock Performance
BAC opened at $53.53 on Friday. Bank of America Corporation has a 52-week low of $36.49 and a 52-week high of $57.55. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $382.54 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23. The firm's 50-day moving average price is $50.50 and its 200-day moving average price is $52.24.
Bank of America (NYSE:BAC - Get Free Report) last posted 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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.
Bank of America Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were given a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America's dividend payout ratio is currently 27.72%.
Insider Activity at Bank of America
In related news, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Demare sold 83,832 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 307,240 shares in the company, 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 have sold a total of 227,832 shares of company stock worth $11,094,960 over the last quarter. 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: Record Q1 results — BAC posted EPS $1.11 and roughly $30.3B revenue, driven by a jump in equities trading, stronger net interest income and $8.6B net income; management highlighted resilient consumer activity and strong wealth flows. Bank of America Posts Monster Quarter, Best in Nearly Two Decades
- Positive Sentiment: Analyst re-ratings and price target increases — Multiple brokerages (Goldman, Jefferies, Evercore, Keefe, Argus, HSBC, RBC, Baird) raised price targets or reiterated outperform/buy calls after the beat, signaling upside revision to consensus. Goldman Sachs Raises Price Target on BAC
- Positive Sentiment: Street sees re‑rating potential — UBS and other analysts called the quarter “clean” and suggested BAC’s results and momentum could support multiple expansion. Bank of America's Q1 Results Could Support Re-Rating, UBS Says
- Positive Sentiment: Operational/strategic tailwinds — BofA rolled out an AI tool for its ~18,000 financial advisors and emphasized tech investments that could lift fee income and client retention. Bank of America’s 18,000 financial advisors just got a new AI tool
- Neutral Sentiment: Debt action — BofA announced redemption of €1.5B of senior notes due May 4, 2027; a straightforward liability management move with limited immediate credit impact but uses cash/ISS liquidity. Redemption of €1.5B Senior Notes
- Neutral Sentiment: Sector context — RBC and others noted strong capital‑markets performance industrywide in Q1, which helped BAC’s trading and IB fees but also concentrates earnings on volatile revenue streams. Big Banks Delivered Strong Capital Markets Performance in First Quarter, RBC Says
- Negative Sentiment: Macro/growth concerns — Recent BofA surveys show investors trimming growth expectations, a backdrop that can cap bank multiples if broader growth or risk appetite weakens. Investors slash growth views — BofA survey
- Negative Sentiment: Market reaction and volume — Despite the strong quarter and several price‑target raises, the stock decreased today, likely due to short‑term profit‑taking, lower-than-average volume and broader market/geopolitical noise that temporarily weighed on financials.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on BAC. Erste Group Bank lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Jefferies Financial Group upped their price objective on shares of Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday. Daiwa Securities Group lowered their price objective on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Bank of America in a research note on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.90.
Check Out Our Latest Stock Analysis on BAC
Bank of America Company Profile
(
Free Report)
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.
See Also
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