Bank of America Corporation $BAC Shares Acquired by MCF Advisors LLC

Key Points

• MCF Advisors LLC boosted its Bank of America stake by 83.1% in the fourth quarter, ending with 55,764 shares valued at about $3.07 million. Institutional ownership in BAC remains high at 70.71%.
• Bank of America reported better-than-expected first-quarter results, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion, up 10.7% year over year. Analysts now expect full-year EPS of 4.45.
• The company announced a quarterly dividend of $0.28 per share, payable June 26, representing a 2.1% annualized yield. Meanwhile, several analysts raised price targets, and the stock has a consensus rating of “Moderate Buy.”

MCF Advisors LLC increased its holdings in Bank of America Corporation (NYSE:BAC) by 83.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,764 shares of the financial services provider's stock after acquiring an additional 25,301 shares during the quarter. MCF Advisors LLC's holdings in Bank of America were worth $3,067,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Legacy Bridge LLC lifted its stake in shares of Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the third quarter worth about $27,000. Collier Financial acquired a new position in shares of Bank of America in the third quarter worth about $30,000. Joseph Group Capital Management acquired a new position in shares of Bank of America in the fourth quarter worth about $32,000. Finally, HFM Investment Advisors LLC lifted its stake in shares of Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Down 0.6%

Shares of Bank of America stock opened at $53.87 on Friday. 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 firm has a market cap of $382.27 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.92 and a beta of 1.18. Bank of America Corporation has a fifty-two week low of $43.66 and a fifty-two week high of $57.55. The business has a 50-day moving average price of $51.63 and a 200 day moving average price of $52.30.

Bank of America (NYSE:BAC - Get Free Report) last announced 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. The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, sell-side analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio is 27.72%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America announced a new cross-border real-time payments solution that will let corporate and institutional clients send and receive funds instantly via SWIFT or CashPro, a potentially meaningful growth driver for its global payments franchise. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Merrill, Bank of America’s wealth management unit, earned strong recognition across three 2026 Barron’s lists, reinforcing the quality of its advisory business and brand strength in wealth management. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron's Lists
• Positive Sentiment: Multiple articles highlighted bullish views on BAC, including references to broad analyst optimism and BAC being viewed as a low-cost stock with upside potential, which can help support investor confidence. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America and other major U.S. banks are moving ahead with a shared tokenized deposit network, a strategic industry initiative that is important long term but not an immediate earnings catalyst. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Bank of America also disclosed a 2.84% voting interest in QIAGEN, but the filing appears to be a routine ownership update rather than a major strategic shift for BAC. Bank of America Reports 2.84% Voting Interest in QIAGEN
• Negative Sentiment: Jim Cramer commented that something “not that great” may be happening at Bank of America, a bearish soundbite that could weigh on sentiment even though it was not tied to a specific fundamental warning. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Analyst Ratings Changes

Several research analysts recently commented on BAC shares. Oppenheimer boosted their price target on Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. HSBC boosted their price objective on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, April 16th. The Goldman Sachs Group boosted their price objective on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group boosted their price objective on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

Insider Activity at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This represents a 35.58% 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 the SEC website. Also, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.