Glaxis Capital Management LLC Buys New Position in Bank of America Corporation $BAC

Key Points

• Glaxis Capital Management opened a new position in Bank of America, buying 46,000 shares worth about $2.53 million in the fourth quarter. The stake makes BAC its 9th-largest holding, representing 4.3% of the portfolio.
• Wall Street sentiment is constructive: several analysts recently lifted price targets, and Bank of America now carries an average rating of “Moderate Buy” with an average target of $61.06. The stock has 22 Buy ratings and five Hold ratings.
• Bank of America continues to post solid operating results, recently beating earnings and revenue estimates with Q1 EPS of $1.11 on revenue of $30.27 billion. The company also announced a quarterly dividend of $0.28 per share, equal to a 2.0% annualized yield.

Glaxis Capital Management LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 46,000 shares of the financial services provider's stock, valued at approximately $2,530,000. Bank of America accounts for 4.3% of Glaxis Capital Management LLC's holdings, making the stock its 9th biggest position.

Several other hedge funds have also modified their holdings of BAC. Legacy Bridge LLC grew its stake in Bank of America by 182.3% during the 4th 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 in the last quarter. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter valued at approximately $27,000. Joseph Group Capital Management acquired a new stake in Bank of America during the 4th quarter valued at approximately $32,000. HFM Investment Advisors LLC grew its stake in Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners grew its stake in Bank of America by 90.2% during the 4th quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 314 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent analyst reports. HSBC raised their price objective on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Royal Bank Of Canada restated an "outperform" rating and set a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, Piper Sandler lifted their target price on Bank of America from $53.00 to $59.00 and gave the stock a "neutral" 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.06.

Insider Activity

In related 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 sale, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company's stock.

Bank of America Price Performance

Shares of BAC opened at $55.17 on Friday. The firm has a market cap of $391.48 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.92 and a beta of 1.18. The stock has a 50 day moving average of $52.16 and a 200-day moving average of $52.39. 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 52 week low of $43.66 and a 52 week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, analysts forecast that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America's dividend payout ratio (DPR) is 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 launched new client offerings, including pay-over-time tools, an expanded rewards program, and credit monitoring features, which could support card usage, customer retention, and fee revenue. Bank of America Introduces New Ways to Reward Clients, Manage Payments and Track Credit
• Positive Sentiment: The bank is planning real-time global payments through Swift and CashPro, a move that could boost fee income and strengthen client relationships over time. BAC Plans to Launch Real-Time Global Payments: A Fee Revenue Catalyst?
• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Bank of America NYSE: BAC, suggesting more confidence in the company’s longer-term earnings outlook. Bank of America Corporation - Free Report
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, trade, and FX solutions in Asia-Pacific, reinforcing a constructive outlook for its global payments and transaction banking business. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Neutral Sentiment: Bank of America declared preferred stock dividends for multiple series, a routine capital-return update that is not likely to materially move the common stock. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Neutral Sentiment: Several articles referenced Bank of America’s market-timing and stock-market warning indicators, which may reflect caution on broader equities rather than a direct operational issue for BAC. Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
• Negative Sentiment: The Justice Department’s subpoena probe into alleged “debanking,” which includes Bank of America, adds regulatory overhang and could create headlines risk for the shares. US Justice Department subpoenas major banks over alleged 'debanking', WSJ reports

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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