Bank of America Corporation $BAC Shares Bought by Annis Gardner Whiting Capital Advisors LLC

Key Points

• Annis Gardner Whiting Capital Advisors LLC increased its Bank of America stake by 33.2% in the fourth quarter, buying 10,025 additional shares and bringing its total holding to 40,216 shares worth about $2.21 million.
• Bank of America reported better-than-expected quarterly results, with EPS of $1.11 versus the $1.00 estimate and revenue of $30.27 billion, up 10.7% year over year.
• The company also announced a quarterly dividend of $0.28 per share, payable June 26, implying an annualized yield of about 2.2% and a payout ratio of 27.72%.

Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 33.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,216 shares of the financial services provider's stock after purchasing an additional 10,025 shares during the period. Annis Gardner Whiting Capital Advisors LLC's holdings in Bank of America were worth $2,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter worth about $27,000. Legacy Bridge LLC grew its position in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the period. Collier Financial acquired a new stake in Bank of America during the 3rd quarter worth about $30,000. Joseph Group Capital Management acquired a new stake in Bank of America during the 4th quarter worth about $32,000. Finally, HFM Investment Advisors LLC grew its position in Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after purchasing an additional 532 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 0.0%

BAC stock opened at $51.81 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 12-month low of $42.35 and a 12-month high of $57.55. The stock has a market cap of $367.64 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.88 and a beta of 1.21. The business's 50-day moving average is $50.65 and its 200 day moving average is $52.37.

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, topping 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 in the previous year, the firm posted $0.90 EPS. Bank of America's revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America's payout ratio is presently 27.72%.

Key Headlines 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 Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated 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 approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated 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 completion of the sale, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 354,588 shares of company stock valued at $17,814,296. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BAC shares. Jefferies Financial Group raised their target price on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Truist Financial raised their target price on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. The Goldman Sachs Group raised their target price on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Royal Bank Of Canada restated an "outperform" rating and set a $59.00 target price on shares of Bank of America in a research report on Thursday, April 16th. Finally, Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.06.

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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