GC Wealth Management RIA LLC Acquires 20,384 Shares of Bank of America Corporation $BAC

Key Points

• GC Wealth Management RIA LLC increased its Bank of America stake by 17.4% in the first quarter, buying 20,384 additional shares. The firm now owns 137,644 shares valued at about $6.71 million.
• Bank of America reported Q2 earnings of $1.21 per share, topping analyst expectations of $1.13 per share. Quarterly revenue also rose 19.6% year over year, and analysts now expect full-year EPS of 4.65.
• Institutional investors remain heavily invested in BAC, with hedge funds and other institutions owning 70.71% of the stock. Analysts are broadly constructive, with an average rating of Moderate Buy and an average price target of $63.77.

GC Wealth Management RIA LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 137,644 shares of the financial services provider's stock after buying an additional 20,384 shares during the quarter. GC Wealth Management RIA LLC's holdings in Bank of America were worth $6,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Abound Financial LLC acquired a new stake in Bank of America in the fourth quarter worth $26,000. Legacy Bridge LLC raised its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management bought a new position in shares of Bank of America during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Down 0.5%

BAC opened at $61.30 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $62.12. The firm has a market capitalization of $435.02 billion, a PE ratio of 14.06, a P/E/G ratio of 0.99 and a beta of 1.17. The company's 50-day moving average is $56.17 and its 200 day moving average is $53.29.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, research analysts predict that Bank of America Corporation will post 4.65 earnings per share for the current fiscal year.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s own analysts said Alphabet’s post-earnings selloff looks like a buying opportunity, reinforcing BAC’s credibility as a market-moving research franchise and highlighting the firm’s influence in large-cap tech coverage. 4 Reasons to Buy Alphabet Stock After the CAPEX Shock: Bank of America
• Positive Sentiment: Bank of America extended the naming-rights deal for Bank of America Stadium with the Carolina Panthers, reinforcing a long-term brand partnership and its visibility in Charlotte and the Carolinas. Bank of America and Carolina Panthers Extend Naming Rights for Bank of America Stadium
• Positive Sentiment: The launch of new hybrid public-private investment funds by Wellington, Vanguard, and Blackstone through Merrill and Bank of America’s private bank could help drive more client assets and deepen wealth-management relationships. Global Market: Wellington, Vanguard, Blackstone launch hybrid public-private investment funds for wealthy clients
• Positive Sentiment: Bank of America’s preferred dividend confirmation and recent earnings backdrop underscore ongoing capital returns and support the valuation case for BAC shares. Bank of America (BAC) Preferred Dividend Update Keeps Valuation In Focus
• Neutral Sentiment: Several articles highlight BAC’s broader market influence, including comments on bank earnings, rate policy, and consumer health, but they do not appear to directly change Bank of America’s near-term earnings outlook. What Bank Earnings Just Revealed About the Health of the American Consumer
• Neutral Sentiment: Coverage of Bank of America’s consumer-service AI rollout and finance-leadership messaging is strategically positive, but likely a longer-term operational story rather than an immediate stock catalyst. Bank of America Equips Customer Service Reps With Gen AI
• Negative Sentiment: CEO commentary warning that inflation could force the Fed into a corner suggests a tougher macro backdrop, which could pressure loan demand, credit costs, and the banking sector broadly if rates stay restrictive. Bank of America CEO warns inflation will back Fed into a corner

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $72,803,774.97. This trade represents 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 available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on BAC shares. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Evercore set a $63.00 price target on Bank of America and gave the stock an "outperform" rating in a report on Monday, July 6th. Piper Sandler boosted their price objective on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. UBS Group upped their target price on Bank of America from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Autonomous Res cut their target price on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.77.

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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