Bank of America Corporation $BAC Stock Holdings Increased by Crake Asset Management LLP

Key Points

• Crake Asset Management LLP increased its Bank of America stake by 14% in the fourth quarter, adding 154,061 shares to bring its total to 1,254,061 shares worth about $68.97 million.
• Several analysts raised their price targets on BAC, and the stock now carries a consensus Moderate Buy rating with an average target price of $61.06.
• Bank of America recently beat quarterly expectations with EPS of $1.11 and revenue of $30.27 billion, while also announcing a quarterly dividend of $0.28 per share.

Crake Asset Management LLP grew its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,254,061 shares of the financial services provider's stock after acquiring an additional 154,061 shares during the quarter. Bank of America comprises approximately 2.7% of Crake Asset Management LLP's portfolio, making the stock its 8th biggest holding. Crake Asset Management LLP's holdings in Bank of America were worth $68,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. DecisionMap Wealth Management LLC lifted its position in shares of Bank of America by 4.7% in 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 raised its holdings in shares of Bank of America by 3.8% in 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 period. Holistic Financial Partners raised its holdings in shares of Bank of America by 2.4% in the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after purchasing an additional 183 shares during the period. Operose Advisors LLC raised its holdings in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 185 shares during the period. Finally, Asahi Life Asset Management CO. LTD. raised its holdings in shares of Bank of America by 1.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after purchasing an additional 187 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAC has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Truist Financial raised their price objective on Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group raised their price objective on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Oppenheimer raised their price objective on Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Finally, HSBC raised their price objective on Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

More Bank of America News

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Bank of America Price Performance

BAC stock opened at $51.56 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. Bank of America Corporation has a 52-week low of $43.36 and a 52-week high of $57.55. The stock's 50 day moving average is $51.11 and its two-hundred day moving average is $52.32. The company has a market capitalization of $365.91 billion, a PE ratio of 12.76, a P/E/G ratio of 0.87 and a beta of 1.21.

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 the consensus estimate of $29.72 billion. During the same period in the previous year, the business earned $0.90 EPS. Bank of America's revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America's payout ratio is currently 27.72%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on 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 sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction that occurred on 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 sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 354,588 shares of company stock valued at $17,814,296 over the last 90 days. 0.27% of the stock is owned by company 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.

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