Bank of America Corporation $BAC Stock Holdings Increased by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC increased its Bank of America stake by 7.3% in the fourth quarter, adding 41,601 shares to bring its total holding to 610,028 shares worth about $33.6 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 70.71% of Bank of America’s stock. Several other firms also modestly increased their positions during the quarter.
• Analysts are still broadly positive on BAC, with 22 Buy ratings and 5 Hold ratings and an average target price of $61.06, even as some firms trimmed their price targets.

Easterly Investment Partners LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 610,028 shares of the financial services provider's stock after acquiring an additional 41,601 shares during the quarter. Bank of America comprises approximately 2.1% of Easterly Investment Partners LLC's portfolio, making the stock its 2nd biggest holding. Easterly Investment Partners LLC's holdings in Bank of America were worth $33,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. DecisionMap Wealth Management LLC raised 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 buying an additional 182 shares during the last quarter. Money Concepts Capital Corp raised its position in shares of Bank of America by 3.8% in the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after buying an additional 182 shares during the last quarter. Holistic Financial Partners raised its position in shares of Bank of America by 2.4% in the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after buying an additional 183 shares during the last quarter. Operose Advisors LLC raised its position in shares of Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after buying an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. raised its position 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 valued at $1,092,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BAC shares. Evercore dropped their target price on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Autonomous Res dropped their target price on Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Erste Group Bank lowered Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Truist Financial upped their target price on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, UBS Group upped their target price on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.06.

Bank of America Stock Performance

Shares of BAC stock opened at $51.56 on Monday. The company's fifty day simple moving average is $51.11 and its 200-day simple moving average is $52.31. Bank of America Corporation has a 52 week low of $43.36 and a 52 week high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $365.91 billion, a PE ratio of 12.76, a P/E/G ratio of 0.87 and a beta of 1.19.

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, beating analysts' consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter last year, the firm posted $0.90 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

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

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction dated 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 approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction dated 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 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. Insiders have sold a total of 354,588 shares of company stock worth $17,814,296 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Bank of America News Summary

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?

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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