Arete Wealth Advisors LLC Sells 36,586 Shares of Bank of America Corporation $BAC

Arete Wealth Advisors LLC lessened its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 66.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,358 shares of the financial services provider's stock after selling 36,586 shares during the quarter. Arete Wealth Advisors LLC's holdings in Bank of America were worth $895,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Money Concepts Capital Corp boosted its position in shares of 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 last quarter. Operose Advisors LLC lifted its stake in Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after buying an additional 185 shares during the period. Asahi Life Asset Management CO. LTD. boosted its holdings in Bank of America by 1.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after buying an additional 187 shares during the last quarter. GatePass Capital LLC grew its position in shares of Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock worth $266,000 after buying an additional 190 shares during the period. Finally, GeoWealth Management LLC grew its position in shares of Bank of America by 0.3% during the 4th quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider's stock worth $3,388,000 after buying an additional 191 shares during the period. Institutional investors own 70.71% of the company's stock.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction 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. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Bank of America Price Performance

NYSE BAC opened at $61.09 on Thursday. The business has a 50 day simple moving average of $57.08 and a 200 day simple moving average of $53.45. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.99. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $433.55 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. Analysts anticipate that Bank of America Corporation will post 4.67 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio is presently 25.69%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: JPMorgan raised its BAC price target and rating. JPMorgan increased its target from $62.50 to $68.00 and assigned an “overweight” rating, implying meaningful potential upside based on the referenced price. Benzinga article
• Positive Sentiment: Higher earnings forecasts support the long-term outlook. Erste Group raised its FY2026 EPS estimate for Bank of America to $4.64 from $4.53 and its FY2027 estimate to $5.20 from $5.13. The FY2027 forecast is above the broader consensus cited in the report. Erste Group earnings estimate article
• Positive Sentiment: Analyst commentary remains generally favorable. Recent coverage highlights BAC’s second-quarter performance relative to diversified-bank peers and identifies the company as a potential beneficiary of artificial-intelligence adoption through operating-efficiency and margin gains. Bank of America AI beneficiaries article
• Neutral Sentiment: Bank of America disclosed changes in its Umicore stake. Umicore reported that BAC repeatedly crossed the 3% transparency threshold, with the position remaining around that level. The disclosure does not indicate a material change to BAC’s core business. Umicore stake article
• Negative Sentiment: Broad bank-sector selling weighed on BAC. Goldman Sachs, Morgan Stanley, JPMorgan, Citigroup, Wells Fargo and Bank of America all declined as investors positioned ahead of the Fed meeting. Uncertainty over whether rates will remain unchanged—or potentially move higher—has increased volatility across financial stocks. Bank stocks ahead of Fed meeting article

Analysts Set New Price Targets

A number of brokerages recently weighed in on BAC. Royal Bank Of Canada increased their price target on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Daiwa Securities Group upped their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Truist Financial increased their target price on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, UBS Group boosted their price target on shares of Bank of America from $63.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

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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