Bank of America Corporation $BAC Position Increased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management boosted its Bank of America stake by 2.1% in the fourth quarter, holding 53.8 million shares worth about $2.96 billion. Bank of America now makes up 1.0% of Fisher’s portfolio and is its 28th-largest position.
• Bank of America’s latest quarterly results topped expectations, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion, up 10.7% year over year. The company also beat on profitability metrics, including a 11.49% return on equity.
• Analysts remain broadly constructive, despite some recent target cuts and one downgrade. The stock has a “Moderate Buy” consensus rating with an average price target of $61.06, and Bank of America also announced a quarterly dividend of $0.28 per share.

Fisher Asset Management LLC increased its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,783,821 shares of the financial services provider's stock after purchasing an additional 1,105,833 shares during the period. Bank of America accounts for 1.0% of Fisher Asset Management LLC's portfolio, making the stock its 28th largest position. Fisher Asset Management LLC owned approximately 0.74% of Bank of America worth $2,958,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BAC. Brighton Jones LLC lifted its holdings in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC lifted 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 worth $1,013,000 after purchasing an additional 6,174 shares during the last quarter. Jump Financial LLC lifted 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 worth $3,108,000 after purchasing an additional 18,227 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Bank of America during the 2nd quarter valued at $1,396,000. Finally, Vivaldi Capital Management LP raised its stake in Bank of America by 4.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after acquiring an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 0.0%

Shares of BAC stock opened at $51.81 on Monday. Bank of America Corporation has a 1 year low of $42.35 and a 1 year high of $57.55. The stock has a market cap of $367.64 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The business's fifty day moving average is $50.65 and its 200-day moving average is $52.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results 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. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same period last year, the firm earned $0.90 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts expect that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America's payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Evercore cut their target price on Bank of America from $70.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. 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, April 16th. Morgan Stanley cut their target price on Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $59.00 target price on shares of Bank of America in a research note on Thursday, April 16th. Finally, Erste Group Bank downgraded Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and an average target price of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% 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 Bank of America stock in a transaction on 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 completion of the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 354,588 shares of company stock valued at $17,814,296. Insiders own 0.27% of the company's stock.

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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