Bank of America Corporation $BAC Shares Purchased by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management raised its stake in Bank of America by 22.2%, adding 12,796 shares to hold 70,356 shares worth about $3.87 million at the end of the quarter.
• Bank of America beat Q1 expectations, reporting EPS of $1.11 versus $1.00 and revenue of $30.27 billion (up 10.7% YoY), and several analysts raised price targets, leaving an average target of $60.90 and a "Moderate Buy" consensus.
• The firm declared a $0.28 quarterly dividend (annualized $1.12, ~2.1% yield), while insiders have sold roughly 227,832 shares (~$11.09 million) over the past 90 days and institutional investors own about 70.7% of the stock.

Belpointe Asset Management LLC raised its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,356 shares of the financial services provider's stock after buying an additional 12,796 shares during the period. Belpointe Asset Management LLC's holdings in Bank of America were worth $3,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Bridge LLC lifted its position in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the third quarter worth $27,000. Collier Financial acquired a new position in shares of Bank of America during the third quarter worth $30,000. Marquette Asset Management LLC acquired a new position in shares of Bank of America during the third quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Bank of America during the third quarter worth $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 0.0%

BAC opened at $53.92 on Monday. The stock has a market capitalization of $385.31 billion, a PE ratio of 13.35, a P/E/G ratio of 0.92 and a beta of 1.23. The firm's fifty day moving average price is $50.45 and its 200 day moving average price is $52.27. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a 12-month low of $36.49 and a 12-month high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted 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. The firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, research analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.1%. Bank of America's dividend payout ratio is currently 27.72%.

Insider Activity at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares of the company's stock, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James P. Demare sold 83,832 shares of the company's stock in a transaction on 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 sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday. Erste Group Bank cut shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Jefferies Financial Group boosted their target price on shares of Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley reduced their target price on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $60.90.

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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