Citizens Financial Group Inc. RI Raises Stake in Bank of America Corporation $BAC

Key Points

• Citizens Financial Group Inc. RI increased its stake in Bank of America by 1.0%, adding 13,522 shares to hold 1,348,048 shares valued at about $74.14 million, making BAC its 23rd-largest holding.
• Bank of America beat expectations for the quarter with EPS of $1.11 versus $1.00 expected and revenue of $30.27 billion, up 10.7% year-over-year.
• The bank announced a quarterly dividend of $0.28 per share (annualized $1.12, ~2.1% yield); analysts rate BAC a "Moderate Buy" with an average target of $61.02, even as insiders have recently sold shares and institutional ownership stands around 70.7%.

Citizens Financial Group Inc. RI boosted its position in Bank of America Corporation (NYSE:BAC) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,348,048 shares of the financial services provider's stock after buying an additional 13,522 shares during the period. Bank of America makes up approximately 1.0% of Citizens Financial Group Inc. RI's investment portfolio, making the stock its 23rd largest holding. Citizens Financial Group Inc. RI's holdings in Bank of America were worth $74,143,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BAC. Brighton Jones LLC boosted its position in Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after buying an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after buying an additional 6,174 shares during the last quarter. Jump Financial LLC boosted its position in Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after buying an additional 18,227 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Bank of America in the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its position in Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Trading Up 1.3%

Shares of NYSE:BAC opened at $53.57 on Friday. Bank of America Corporation has a 12-month low of $39.58 and a 12-month high of $57.55. The company has a market capitalization of $382.79 billion, a PE ratio of 13.26, a PEG ratio of 0.89 and a beta of 1.23. The business has a 50 day moving average of $50.34 and a two-hundred day moving average of $52.42. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $29.72 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Bank of America's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that Bank of America Corporation will post 4.46 EPS for the current year.

Bank of America Dividend Announcement

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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is presently 27.72%.

Analyst Ratings Changes

A number of brokerages recently commented on BAC. TD Cowen dropped their target price on Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, January 15th. Robert W. Baird upped their target price on Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Morgan Stanley dropped their target price on 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. UBS Group decreased their price target on Bank of America from $67.00 to $62.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their price target on Bank of America from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.02.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Prominent bullish endorsement from Jim Cramer calling BofA “a plain out buy,” which can drive short‑term retail and momentum flows. Jim Cramer Believes “Bank of America’s Way Too Cheap, It Should Be Bought”
• Positive Sentiment: Bank extended its large co‑brand credit card deal with Alaska Air—its biggest co‑brand partnership—which supports card revenue visibility; the article also highlights sizable share buybacks ($18.66B over the prior 12 months), a direct capital return that boosts EPS and supports the share price. BAC Stock In Focus After Multi-Year Alaska Air Extension
• Positive Sentiment: ETF/flow dynamics: coverage notes that BAC is being watched by Russell 1000 ETF activity — passive/quant flows can prop up large-cap bank shares when indexes or rebalance activity favor them. Bank Of America Stock Climbs As Russell 1000 ETF Watches
• Neutral Sentiment: Research franchise highlights — BofA analysts continue to move ratings/targets across large coverage names (examples: upward moves on Western Digital and Caterpillar, and coverage actions on other consumer names). This underscores BofA’s investment‑banking/markets footprint but is an indirect driver of the bank’s stock. Bank of America Points to Supply-Demand Imbalance Favoring Western Digital (WDC)
• Neutral Sentiment: Macro/content pieces from BofA (e.g., bold silver price scenarios) showcase research insights but don’t directly change bank fundamentals; they are more about the firm’s sightlines than immediate BAC earnings. Silver Prices Have Pulled Back, But Bank of America Predicts They Could Soar to $309 Before the End of 2026. How?
• Positive Sentiment: Management/advice narratives: BofA’s own market commentary (e.g., telling investors to ignore “sell in May” and hold) can bolster investor confidence and reduce seasonality‑driven selling. Bank of America advises investors to ignore the ‘sell in May and go away’ axiom and hold strong this year. Here's why
• Negative Sentiment: Credit‑market watch: BofA research warns non‑traded private credit BDC redemption requests likely peak in Q2, signaling stress/liquidity pressures in parts of the credit market — a factor to monitor because worsening credit conditions could eventually pressure bank provisions and lending demand. Private credit BDC redemption requests likely to peak in Q2 2026 – BofA
• Neutral Sentiment: Operational strategy note: coverage mentions a renewed focus on branches (branch‑opening spree article) — a strategic choice that may raise near‑term costs but could support deposit and local lending growth over time. This major bank is going on a branch-opening spree

Insider Transactions at Bank of America

In other news, insider James P. Demare sold 83,832 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was 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 directly owned 307,240 shares of the company's stock, valued at $15,362,000. This represents a 21.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares of the company's stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,832 shares of company stock valued at $11,094,960 in the last three months. 0.27% of the stock is currently owned by company insiders.

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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