Bank of America Corporation $BAC Holdings Boosted by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich dramatically increased its Bank of America stake by 3,747.1% in the fourth quarter, ending with 1,348,860 shares valued at about $74.3 million.
• Bank of America reported strong quarterly results, with EPS of $1.11 beating estimates and revenue of $30.27 billion topping expectations, while revenue rose 10.7% year over year.
• The company also announced a quarterly dividend of $0.28 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $61.06.

Bank Julius Baer & Co. Ltd Zurich raised its stake in Bank of America Corporation (NYSE:BAC) by 3,747.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,348,860 shares of the financial services provider's stock after acquiring an additional 1,313,798 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Bank of America were worth $74,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wiser Advisor Group LLC acquired a new position in Bank of America during the 3rd quarter valued at approximately $27,000. Legacy Bridge LLC lifted its position in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. Collier Financial bought a new stake in Bank of America in the 3rd quarter valued at about $30,000. Mountain Hill Investment Partners Corp. acquired a new position in Bank of America during the 3rd quarter valued at about $31,000. Finally, Joseph Group Capital Management bought a new position in Bank of America in the 4th quarter worth about $32,000. 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: Bank of America’s own analysts upgraded Akamai Technologies to Buy, highlighting a broader shift toward viewing network and infrastructure names as AI beneficiaries; that reinforces BofA’s role as an active and influential deal/rating house in AI-linked stocks. Akamai Technologies upgraded by Bank of America on AI infrastructure shift
• Positive Sentiment: Bank of America is also being portrayed as an AI-era winner itself, with coverage noting branch expansion plus AI tools could help deepen customer relationships, support deposit growth, and strengthen its hybrid banking model. Can Branch Expansion Give Bank of America an Edge in the AI Era?
• Positive Sentiment: News that Bank of America joined LTX as a fully integrated liquidity provider on an AI-powered corporate bond trading platform highlights continued investment in electronic trading and fixed-income technology, which could improve efficiency and market share over time. Bank Of America Deepens AI Bond Trading Role With LTX Partnership
• Positive Sentiment: Industry data showed large U.S. banks, including Bank of America, led record share repurchases in the first quarter, which supports per-share earnings and signals strong capital generation. Bank Stock Buybacks Hit a Record in First Quarter. Citi, BofA, and Goldman Were Leaders.
• Neutral Sentiment: Seeking Alpha’s “Undercovered Dozen” piece included Bank of America among lesser-covered stocks, but it does not appear to introduce a major new catalyst by itself. Undercovered Dozen: Bank Of America, Plug Power, Dycom And More
• Negative Sentiment: BofA Securities settled an insider-trading-related case with India’s Sebi, a headline that may create some reputational noise, though the financial penalty was relatively small. BofA Securities settles insider trading case with Sebi

Bank of America Price Performance

NYSE:BAC opened at $49.83 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The business's 50-day moving average price is $50.42 and its 200 day moving average price is $52.48. Bank of America Corporation has a 52-week low of $42.35 and a 52-week high of $57.55. The firm has a market cap of $353.65 billion, a P/E ratio of 12.34, a PEG ratio of 0.86 and a beta of 1.21.

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 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 company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same quarter last year, the firm posted $0.90 EPS. The business's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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 given a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America's payout ratio is 27.72%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen dropped their price target on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Argus boosted their price target on Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, HSBC increased their price target on Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.06.

Insider Buying and Selling

In other news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares of the company's stock, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,588 shares of company stock worth $17,814,296 over the last three months. Corporate 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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