Bank of America Corporation $BAC is Tred Avon Family Wealth LLC's Largest Position

Key Points

• Tred Avon Family Wealth LLC trimmed its Bank of America stake by 11% in Q1, but BAC remains its largest holding, making up about 4.6% of the portfolio.
• Bank of America reported better-than-expected Q1 earnings of $1.11 per share on $30.27 billion in revenue, and it also paid a quarterly dividend of $0.28 per share, or $1.12 annually.
• Analyst sentiment remains broadly positive, with firms like Citi and Barclays reiterating bullish views; overall, BAC has a Moderate Buy consensus and a $61.35 average price target.

Tred Avon Family Wealth LLC cut its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 11.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,761 shares of the financial services provider's stock after selling 35,507 shares during the period. Bank of America comprises approximately 4.6% of Tred Avon Family Wealth LLC's investment portfolio, making the stock its biggest holding. Tred Avon Family Wealth LLC's holdings in Bank of America were worth $13,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Bank of America in the 4th quarter valued at about $4,774,210,000. Capital International Investors purchased a new stake in shares of Bank of America in the fourth quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after acquiring an additional 40,235,201 shares during the period. Vanguard Group Inc. raised its position in Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its position in Bank of America by 914.5% during the fourth quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock valued at $1,380,239,000 after acquiring an additional 22,621,546 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Bank of America News

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

• Positive Sentiment: Citi raised its price target on Bank of America and kept a Buy rating, citing expectations for strong second-quarter results and reinforcing the view that BAC can deliver solid earnings growth. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Barclays reaffirmed its Buy rating on BAC, adding to the bullish analyst backdrop and suggesting Wall Street still sees room for upside. Barclays Reaffirms Their Buy Rating on Bank of America (BAC)
• Positive Sentiment: Bank of America’s own research highlighted AI-driven semiconductor demand, projecting an additional $1 trillion in chip sales over five years, which supports a more constructive macro outlook for markets tied to technology spending and capital formation. BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue
• Positive Sentiment: Reports that major banks passed the Fed stress test again and showed capital resilience may lift sentiment toward large money-center banks like BAC by reinforcing dividend and buyback flexibility. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
• Neutral Sentiment: Other BofA commentary focused on housing trends, small- and mid-cap preferences, and wealthy-investor behavior, but these items are more market-color than direct catalysts for BAC shares. Bank of America sees major housing shift despite high mortgage rates
• Negative Sentiment: Bank of America also warned that the risk of a market correction is rising, a cautious tone that can temper enthusiasm for financial stocks even when fundamentals remain solid. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Bank of America Price Performance

Shares of NYSE BAC opened at $57.92 on Monday. The firm has a 50-day simple moving average of $53.36 and a 200-day simple moving average of $52.67. 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 stock has a market capitalization of $411.06 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.19. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $59.19.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period in the previous year, the business posted $0.90 earnings per share. Bank of America's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that Bank of America Corporation will post 4.47 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on BAC shares. Autonomous Res lowered their price objective on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Daiwa Securities Group boosted 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. UBS Group increased their price target on shares of Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Finally, Oppenheimer raised 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. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.35.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred 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 sale, the insider owned 1,373,397 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

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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