Bank of America Corporation $BAC Holdings Cut by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments trimmed its stake in Bank of America by 1.3% in Q4, selling 14,037 shares and leaving 1,048,024 shares valued at about $57.64 million (≈1.7% of the fund’s portfolio, its 18th largest holding).
• Bank of America beat Q1 estimates with EPS of $1.11 (vs. $1.00) and revenue of $30.27B (vs. $29.72B), spurring analyst upgrades and a consensus rating of “Moderate Buy” with an average price target of $60.90.
• Company insiders have been net sellers, offloading 227,832 shares (≈$11.09M) in the last quarter — insiders now own about 0.27% of the stock.

Miller Howard Investments Inc. NY lowered its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,048,024 shares of the financial services provider's stock after selling 14,037 shares during the period. Bank of America comprises about 1.7% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 18th biggest holding. Miller Howard Investments Inc. NY's holdings in Bank of America were worth $57,641,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Krilogy Financial LLC lifted its holdings in Bank of America by 12.0% in the fourth quarter. Krilogy Financial LLC now owns 75,731 shares of the financial services provider's stock worth $3,940,000 after acquiring an additional 8,088 shares during the last quarter. Earned Wealth Advisors LLC lifted its holdings in Bank of America by 81.0% in the fourth quarter. Earned Wealth Advisors LLC now owns 33,528 shares of the financial services provider's stock worth $1,844,000 after acquiring an additional 15,007 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Bank of America in the 4th quarter worth about $255,000. Financial Management Professionals Inc. lifted its position in Bank of America by 6.4% in the 4th quarter. Financial Management Professionals Inc. now owns 12,062 shares of the financial services provider's stock valued at $663,000 after purchasing an additional 725 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. bought a new stake in Bank of America in the 4th quarter valued at about $220,000. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Up 0.0%

Shares of NYSE:BAC opened at $53.92 on Monday. The company has a 50 day moving average of $50.45 and a 200-day moving average of $52.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a market cap of $385.31 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.92 and a beta of 1.23. Bank of America Corporation has a twelve month low of $36.49 and a twelve month high of $57.55.

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. The business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio (DPR) is 27.72%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. 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. Robert W. Baird boosted their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday. Wolfe Research lowered shares of Bank of America from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 7th. TD Cowen reduced their target price on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Finally, Argus lifted their target price on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $60.90.

Insider Transactions at Bank of America

In related news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last quarter. Insiders own 0.27% of the company's stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

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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