Bank of America Corporation $BAC Shares Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its stake in Bank of America by 9.9%, adding 20,819 shares to hold 231,018 shares valued at about $12.71 million.
• Insiders have been net sellers, disposing of 227,832 shares in the last three months worth roughly $11.09 million, while corporate insiders own just 0.27% of the stock.
• Bank of America reported $0.98 EPS for the quarter (beating estimates), saw revenue rise about 12.3% year-over-year, and pays a quarterly dividend of $0.28 (annualized yield ~2.1%).

Ritholtz Wealth Management raised its position in Bank of America Corporation (NYSE:BAC - Free Report) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 231,018 shares of the financial services provider's stock after acquiring an additional 20,819 shares during the period. Ritholtz Wealth Management's holdings in Bank of America were worth $12,706,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America in the 3rd quarter worth $27,000. Steph & Co. lifted its stake in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after acquiring an additional 379 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Bank of America in the 3rd quarter worth $30,000. Collier Financial acquired a new stake in shares of Bank of America in the 3rd quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bank of America in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE:BAC opened at $52.56 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $50.59 and a two-hundred day moving average price of $52.19. Bank of America Corporation has a twelve month low of $34.81 and a twelve month high of $57.55. The company has a market capitalization of $375.56 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the firm posted $0.82 EPS. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America's dividend payout ratio (DPR) is 29.24%.

Bank of America News Summary

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

• Positive Sentiment: KBW says largest banks now trade at higher multiples than smaller banks, a relative-valuation tailwind for big-cap lenders like BAC as investors re-rate scale and franchise advantages. Largest banks trade at higher multiples than smaller banks now, says KBW's Chris McGratty
• Positive Sentiment: Several analysts have revised earnings forecasts ahead of BAC’s Q1 report (consensus ~ $1.01/sh), which raises expectations that a modest beat could lift the stock on the print. Bank of America Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Positive Sentiment: An analyst raised FY2026 EPS forecasts for BAC, signaling some upward revision risk to estimates that could support the stock if confirmed by results. FY2026 EPS Forecast for Bank of America Increased by Analyst
• Positive Sentiment: BAC is highlighted for OCIO leadership and involvement in potential large AI data-center financing (Oracle project), which points to meaningful investment-banking/credit revenue opportunities. Bank Of America’s OCIO Leadership And AI Financing Set Against Valuation
• Neutral Sentiment: BofA research upgraded its semiconductor view and flagged AI “picks-and-shovels” (Cadence, Synopsys) — a sign of research strength that indirectly supports fee businesses but doesn’t move BAC’s core banking metrics. Bank of America Wants You to Buy the Dip in These 2 Picks-and-Shovels AI Stocks
• Neutral Sentiment: BofA reiterates a view that the Fed is likely to cut rates this year — a macro forecast that has mixed implications for bank net interest margins and stock multiple direction. BofA explains why Fed is likely to deliver rate cuts this year
• Negative Sentiment: UBS trimmed its BAC price target to $62, signaling reduced upside from that shop and contributing to downward pressure on the stock. UBS Group Cuts Bank of America NYSE: BAC Price Target to $62.00
• Negative Sentiment: JPMorgan also lowered its BAC price target to $57.50, adding to analyst-driven headwinds into the earnings print. JPMorgan Chase & Co. Lowers Bank of America NYSE: BAC Price Target to $57.50

Insider Buying and Selling at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider owned 227,973 shares of the company's stock, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BAC shares. Wolfe Research downgraded shares of Bank of America from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 7th. Argus increased their price target on shares of Bank of America from $58.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Oppenheimer cut their price target on shares of Bank of America from $63.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, March 27th. Wells Fargo & Company increased their price target on shares of Bank of America from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Finally, Daiwa Securities Group cut their price target on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $59.10.

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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