Bearing Point Capital LLC Grows Stock Holdings in Bank of America Corporation $BAC

Key Points

• Bearing Point Capital LLC increased its Bank of America stake by 7.0% in the fourth quarter, adding 14,545 shares and bringing its total holdings to 222,877 shares valued at about $12.26 million.
• Bank of America reported strong first-quarter results, with EPS of $1.11 beating estimates and revenue of $30.27 billion topping forecasts, while revenue rose 10.7% year over year.
• The company also announced a quarterly dividend of $0.28 per share, equivalent to an annualized yield of 2.2%, while analysts currently rate the stock a moderate buy with an average target price of $61.06.

Bearing Point Capital LLC increased its stake in shares of Bank of America Corporation (NYSE:BAC) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,877 shares of the financial services provider's stock after buying an additional 14,545 shares during the period. Bank of America comprises 1.9% of Bearing Point Capital LLC's portfolio, making the stock its 11th largest holding. Bearing Point Capital LLC's holdings in Bank of America were worth $12,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. DecisionMap Wealth Management LLC boosted its holdings in 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 worth $223,000 after buying an additional 182 shares in the last quarter. Money Concepts Capital Corp boosted its holdings in Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after buying an additional 182 shares in the last quarter. Holistic Financial Partners boosted its holdings in Bank of America by 2.4% during the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after buying an additional 183 shares in the last quarter. Operose Advisors LLC boosted its holdings in Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after buying an additional 185 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its holdings in Bank of America by 1.0% during 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 in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Insider Activity

In related news, insider James P. Demare sold 83,832 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 307,240 shares of the company's stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares of the company's stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 354,588 shares of company stock worth $17,814,296. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Performance

NYSE:BAC opened at $51.56 on Friday. The firm has a 50 day simple moving average of $51.11 and a 200-day simple moving average of $52.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The firm 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 1.21. Bank of America Corporation has a 1-year low of $43.36 and a 1-year high of $57.55.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, equities analysts expect that Bank of America Corporation will post 4.45 EPS 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 given 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 payout ratio is currently 27.72%.

Key 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?

Wall Street Analyst Weigh In

A number of analysts recently commented on BAC shares. Erste Group Bank downgraded shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Evercore decreased their price objective on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Truist Financial boosted their price objective on shares of Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Oppenheimer lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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