Alchemi Wealth LLC Acquires Shares of 10,267 Bank of America Corporation $BAC

Key Points

• Alchemi Wealth LLC opened a new position in Bank of America, buying 10,267 shares worth about $565,000 in the fourth quarter.
• Bank of America reported strong quarterly results, including EPS of $1.11 versus $1.00 expected and revenue of $30.27 billion, while analysts maintained a Moderate Buy consensus with an average target price of $61.06.
• The bank also declared a $0.28 quarterly dividend, equal to $1.12 annually and a 2.0% yield, even as an insider recently sold 126,756 shares and some reports flagged regulatory and performance-related concerns.

Alchemi Wealth LLC purchased a new stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 10,267 shares of the financial services provider's stock, valued at approximately $565,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Bridge LLC lifted its position in shares of Bank of America by 182.3% during the 4th 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 during the period. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America during the 3rd quarter valued at approximately $27,000. Joseph Group Capital Management acquired a new stake in shares of Bank of America during the 4th quarter valued at approximately $32,000. HFM Investment Advisors LLC lifted its position in shares of Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 532 shares during the period. Finally, Coston McIsaac & Partners lifted its position in shares of Bank of America by 90.2% during the 4th quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 314 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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

Bank of America Trading Up 1.5%

Shares of Bank of America stock opened at $55.96 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55. The company has a market capitalization of $397.15 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.93 and a beta of 1.18. The business has a 50 day moving average price of $52.29 and a 200 day moving average price of $52.41.

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, topping the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America's payout ratio is 27.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Argus lifted their price target on shares of Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Morgan Stanley reduced their price target on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Evercore reduced their price target on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research report on Friday, May 15th. Oppenheimer lifted their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group lifted their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company's stock.

About Bank of America

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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