Bank of America Corporation $BAC Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Bank of America stake by 4.3% in the fourth quarter, ending with 497,234 shares valued at about $27.35 million. Other institutional investors also added to BAC, and hedge funds now own 70.71% of the stock.
• Bank of America reported better-than-expected quarterly results, posting EPS of $1.11 versus $1.00 expected and revenue of $30.27 billion versus $29.72 billion projected. Revenue rose 10.7% year over year, and analysts currently expect full-year EPS of 4.46.
• The company declared a quarterly dividend of $0.28 per share, payable June 26, implying an annualized yield of about 2.2%. Meanwhile, analysts remain broadly constructive, with a consensus rating of Moderate Buy and an average price target of $61.06.

Envestnet Portfolio Solutions Inc. grew its position in Bank of America Corporation (NYSE:BAC - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 497,234 shares of the financial services provider's stock after purchasing an additional 20,470 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Bank of America were worth $27,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DecisionMap Wealth Management LLC increased its holdings in shares of Bank of America by 4.7% during the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 182 shares in the last quarter. Money Concepts Capital Corp grew its position in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after purchasing an additional 182 shares during the last quarter. Holistic Financial Partners increased its stake in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 183 shares in the last quarter. Asahi Life Asset Management CO. LTD. raised its holdings in shares of Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after buying an additional 187 shares during the last quarter. Finally, Riverview Capital Advisers LLC raised its holdings in shares of Bank of America by 4.2% in the third quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE BAC opened at $50.64 on Tuesday. The stock has a 50-day simple moving average of $50.42 and a two-hundred day simple moving average of $52.42. The firm has a market capitalization of $359.36 billion, a P/E ratio of 12.53, a PEG ratio of 0.84 and a beta of 1.21. Bank of America Corporation has a fifty-two week low of $42.35 and a fifty-two week high of $57.55. 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 earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America's dividend payout ratio (DPR) is presently 27.72%.

Insider Activity

In related news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 354,588 shares of company stock valued at $17,814,296 in the last quarter. Company insiders own 0.27% of the company's stock.

More Bank of America News

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

• Positive Sentiment: Bank of America’s own analysts continued to sound constructive on several AI-linked tech names, including Micron, NVIDIA and ServiceNow, with higher price targets and Buy ratings. That can reinforce BAC’s reputation for having influential research coverage and may reflect confidence in broader market conditions that support investment banking and trading activity. BofA Remains a Buy on Micron (MU), Raises PT
• Positive Sentiment: Separate coverage also highlighted Bank of America’s digital banking strength, noting that the bank tied for first place in a Keynova Group ranking. That supports the view that BAC is improving customer experience and competing effectively on technology, which is important for long-term deposit retention and efficiency. Bank Of America’s Digital Win And What It Means For Investors
• Neutral Sentiment: Bank of America agreed to a $2.25 million settlement in a 7-Eleven ATM lawsuit tied to certain account holders. The dollar amount is small relative to BAC’s size, so the financial impact appears limited, though it adds another legal headline. Bank of America agrees to $2.25M settlement in 7-Eleven ATM lawsuit
• Neutral Sentiment: One article pointed to a change in Bank of America’s economic exposure to CA Immo, but this appears to be a holdings disclosure rather than a direct operating development for BAC. It is unlikely to drive the stock on its own. Bank of America lifts economic exposure to CA Immo to 4.15%
• Negative Sentiment: One market note warned that credit conditions may deteriorate in the second half of 2026, which would be a concern for large banks like BAC because it could pressure loan growth and increase credit losses. Best Bank Stocks to Buy in 2026
• Negative Sentiment: Another article framed Bank of America as one of several S&P 500 names facing concerns, suggesting some investors still see structural or execution risks. That kind of caution can weigh on sentiment, even if it is not tied to a fresh BAC-specific earnings miss. 3 S&P 500 Stocks That Concern Us

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. HSBC boosted their price objective on shares of Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price target on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Daiwa Securities Group boosted their price target on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Robert W. Baird raised their price objective on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Finally, Oppenheimer lifted their target price on Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Twenty-two 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 presently has an average rating of "Moderate Buy" and a consensus price target of $61.06.

Bank of America 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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