Bristlecone Value Partners LLC Makes New Investment in Bank of America Corporation $BAC

Bristlecone Value Partners LLC bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,457 shares of the financial services provider's stock, valued at approximately $1,895,000. Bank of America makes up 2.2% of Bristlecone Value Partners LLC's investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BAC. Norges Bank acquired a new position in shares of Bank of America during the 4th quarter worth approximately $4,774,210,000. Capital International Investors acquired a new position in shares of Bank of America during the 4th quarter worth approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its position in shares of Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock worth $1,380,239,000 after purchasing an additional 22,621,546 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Summary

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time. Bank of America Corporation
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore decreased their target price on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating on the stock in a research report on Friday, May 15th. Oppenheimer increased their price target 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. Argus increased their price target on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Royal Bank Of Canada reiterated an "outperform" rating and set a $59.00 price target on shares of Bank of America in a research report on Thursday, April 16th. Finally, HSBC increased their price target on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.06.

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by insiders.

Bank of America Stock Performance

NYSE BAC opened at $55.96 on Friday. 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 firm has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.95 and a beta of 1.18. The firm's 50 day simple moving average is $52.29 and its 200 day simple moving average is $52.41. Bank of America Corporation has a 1 year low of $43.66 and a 1 year 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, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion for 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 firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, research analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America's dividend payout ratio is presently 27.72%.

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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