Baer Investment Advisory LLC Takes Position in Bank of America Corporation $BAC

Key Points

• Baer Investment Advisory initiated a new position in Bank of America in the first quarter, buying 13,533 shares worth about $660,000.
• Bank of America reported strong quarterly results, posting EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion, both above expectations.
• The company also declared a quarterly dividend of $0.28 per share, equal to a 1.9% annualized yield, while Wall Street remains constructive with a consensus rating of “Moderate Buy” and an average price target of $61.60.

Baer Investment Advisory LLC bought a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,533 shares of the financial services provider's stock, valued at approximately $660,000.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after acquiring an additional 25,143 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after acquiring an additional 6,174 shares during the period. Jump Financial LLC increased its holdings in shares of Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after acquiring an additional 18,227 shares during the period. Nebula Research & Development LLC purchased a new stake in Bank of America in the 2nd quarter valued at $1,396,000. Finally, Vivaldi Capital Management LP raised its position in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.1%

Shares of BAC stock opened at $58.67 on Friday. The business's fifty day moving average price is $53.82 and its 200 day moving average price is $52.82. The firm has a market capitalization of $416.35 billion, a PE ratio of 14.52, a P/E/G ratio of 0.99 and a beta of 1.17. 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 $44.75 and a 1-year high of $59.19.

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

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. Bank of America's payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Daiwa Securities Group raised their price target on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. UBS Group upped their price objective on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Citigroup increased their price objective on Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley lifted their target price on Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned 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 $61.60.

Bank of America News Summary

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

• Positive Sentiment: Bank of America analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company'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 sale, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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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