Daiwa Securities Group Inc. Has $61.97 Million Holdings in Bank of America Corporation $BAC

Key Points

• Daiwa Securities Group increased its Bank of America stake by 1.3% in the fourth quarter, ending with 1,126,654 shares valued at about $61.97 million.
• Bank of America reported strong quarterly results, with EPS of $1.11 beating estimates and revenue of $30.27 billion topping expectations, while analysts now forecast 4.45 EPS for the year.
• The company also raised its quarterly dividend to $0.28 per share, and analysts remain broadly bullish, with 22 Buy ratings and an average price target of $61.06.

Daiwa Securities Group Inc. raised its position in Bank of America Corporation (NYSE:BAC) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,126,654 shares of the financial services provider's stock after acquiring an additional 14,782 shares during the period. Daiwa Securities Group Inc.'s holdings in Bank of America were worth $61,966,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Bridge LLC grew its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new stake in Bank of America in the third quarter valued at approximately $27,000. Collier Financial purchased a new position in shares of Bank of America during the third quarter valued at approximately $30,000. Joseph Group Capital Management purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $32,000. Finally, HFM Investment Advisors LLC boosted its position in shares of Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by insiders.

Bank of America Stock Up 3.2%

BAC stock opened at $54.06 on Friday. The stock's fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $52.29. 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 Corporation has a 1-year low of $43.66 and a 1-year high of $57.55. The stock has a market cap of $383.62 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 1.18.

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, topping the consensus estimate 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 business had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. Analysts expect that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given 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 2.1%. Bank of America's payout ratio is currently 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America announced plans to launch a cross-border real-time payments solution in the third quarter, expanding its global payments offering for corporate and institutional clients and potentially improving fee generation and client retention. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Traders bought a much larger-than-normal amount of BAC call options, which can signal increased speculation that the stock will continue to move higher.
• Positive Sentiment: Multiple market updates noted that financial stocks were broadly stronger on Thursday, which likely provided a supportive backdrop for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Positive Sentiment: Several articles highlighted that Bank of America remains a favored name with analysts and hedge funds, with a high share of Buy ratings and implied upside, reinforcing the bullish longer-term view on BAC. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America also received positive publicity for Merrill advisor recognition in Barron’s rankings and for hiring nearly 4,000 interns and campus recruits, but these are more reputational than near-term earnings catalysts. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron's Lists
• Negative Sentiment: Jim Cramer’s cautious comments that “there’s something that’s not that great happening there” may have added a small amount of skepticism, though this appears less influential than the upbeat business headlines. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAC. The Goldman Sachs Group lifted their target price on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Argus lifted their target price on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Piper Sandler lifted their target price on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, UBS Group lifted their target price on Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $61.06.

Bank of America Company 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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