Core Wealth Advisors LLC Invests $1.11 Million in Bank of America Corporation $BAC

Key Points

• Core Wealth Advisors LLC opened a new position in Bank of America during the fourth quarter, buying 20,132 shares worth about $1.11 million. The stake represents roughly 0.7% of the firm’s holdings and is its 21st largest position.
• Bank of America’s latest quarterly results beat expectations, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion topping estimates. Revenue rose 10.7% year over year, and analysts now expect full-year EPS of 4.45.
• Wall Street remains largely constructive on BAC, with 22 buy ratings and a consensus Moderate Buy rating. The average analyst price target is $61.06, above the stock’s recent price near $51.56.

Core Wealth Advisors LLC acquired a new position in Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,132 shares of the financial services provider's stock, valued at approximately $1,107,000. Bank of America accounts for approximately 0.7% of Core Wealth Advisors LLC's holdings, making the stock its 21st biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in shares of Bank of America in the third quarter worth about $27,000. Legacy Bridge LLC raised its stake in shares of Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after buying an additional 330 shares during the period. Collier Financial bought a new position in shares of Bank of America in the third quarter worth about $30,000. Joseph Group Capital Management bought a new position in shares of Bank of America in the fourth quarter worth about $32,000. Finally, HFM Investment Advisors LLC raised its stake in shares of Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after buying an additional 532 shares during the period. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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 research note on Thursday, April 16th. Autonomous Res decreased their price objective on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Truist Financial increased their target price on Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Robert W. Baird increased their target price on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Bank of America Stock Performance

NYSE BAC opened at $51.56 on Friday. The stock 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. The business has a 50 day simple moving average of $51.11 and a two-hundred 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. 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 released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, research analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared 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. This represents a $1.12 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is currently 27.72%.

Trending Headlines about Bank of America

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?

Insider Transactions at Bank of America

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the firm'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 transaction of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James P. Demare sold 83,832 shares of the firm'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 value of $4,191,600.00. Following the transaction, the insider owned 307,240 shares of the company's stock, valued at $15,362,000. This represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 354,588 shares of company stock worth $17,814,296. 0.27% of the stock is owned by corporate 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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