Decker Wealth Management LLC Takes Position in Bank of America Corporation $BAC

Key Points

• Decker Wealth Management initiated a new position in Bank of America, buying 38,925 shares worth about $1.9 million in the first quarter.
• Bank of America continues to attract institutional interest, with 70.71% of its stock held by institutional investors and hedge funds, while several other funds also recently adjusted their stakes.
• The company’s recent performance and outlook appear solid: it beat Q2 earnings estimates, raised confidence through dividend actions, and analysts now have a Moderate Buy consensus with a target price of $63.77.

Decker Wealth Management LLC bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 38,925 shares of the financial services provider's stock, valued at approximately $1,898,000.

Several other hedge funds also recently added to or reduced their stakes in BAC. Money Concepts Capital Corp grew its stake in shares of 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 acquiring an additional 182 shares during the last quarter. Operose Advisors LLC raised its position in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. Asahi Life Asset Management CO. LTD. raised its position in shares of Bank of America by 1.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after purchasing an additional 187 shares during the last quarter. GatePass Capital LLC boosted its stake in Bank of America by 3.6% in the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock worth $266,000 after purchasing an additional 190 shares in the last quarter. Finally, GeoWealth Management LLC boosted its stake in Bank of America by 0.3% in the 4th quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider's stock worth $3,388,000 after purchasing an additional 191 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Analysts Set New Price Targets

BAC has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Robert W. Baird upped their target price on Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.77.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Bank of America Price Performance

Shares of NYSE:BAC opened at $61.18 on Monday. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.12. The company's 50 day moving average is $55.30 and its 200 day moving average is $53.13. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market cap of $434.16 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. On average, sell-side analysts forecast that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 25.69%.

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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