HB Wealth Management LLC Boosts Stake in Bank of America Corporation $BAC

Key Points

• HB Wealth Management LLC increased its stake in Bank of America by 4.3% in the first quarter, ending with 427,643 shares valued at about $20.85 million. Other large institutional investors also added to their positions, and hedge funds and institutions now own about 70.71% of BAC shares.
• Bank of America posted stronger-than-expected quarterly results, reporting $1.11 EPS versus the $1.00 consensus estimate and revenue of $30.27 billion, up 10.7% year over year. Analysts now expect the company to earn 4.49 EPS for the current fiscal year.
• The bank continues to return capital to shareholders, paying a quarterly dividend of $0.28 per share, or $1.12 annually for a 1.9% yield. Meanwhile, analysts remain broadly positive, with a consensus rating of “Moderate Buy” and a target price of $61.60.

HB Wealth Management LLC grew its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 427,643 shares of the financial services provider's stock after acquiring an additional 17,772 shares during the quarter. HB Wealth Management LLC's holdings in Bank of America were worth $20,848,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB grew its stake in shares of Bank of America by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after buying an additional 1,603,080 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Bank of America by 11.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider's stock valued at $34,974,000 after buying an additional 68,093 shares during the period. Legal & General Group Plc lifted its position in Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock worth $2,497,655,000 after acquiring an additional 1,487,809 shares in the last quarter. Certuity LLC lifted its position in Bank of America by 5.1% during the 3rd quarter. Certuity LLC now owns 523,113 shares of the financial services provider's stock worth $26,987,000 after acquiring an additional 25,268 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Bank of America by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider's stock worth $159,794,000 after acquiring an additional 71,307 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC stock opened at $58.67 on Friday. The stock's 50 day moving average is $53.82 and its two-hundred day moving average is $52.82. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $59.19. The company has a market capitalization of $416.35 billion, a PE ratio of 14.52, a P/E/G ratio of 0.99 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating 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 company had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same period in the prior year, the business posted $0.90 EPS. The business's revenue was up 10.7% on a year-over-year basis. Analysts predict that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.9%. Bank of America's dividend payout ratio is currently 27.72%.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the 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 transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Bank of America News Summary

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

• Positive Sentiment: Bank of America analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BAC. Argus increased their price objective on shares of Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Truist Financial upped their target price on shares of Bank of America from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Robert W. Baird raised their price target on shares of Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Oppenheimer downgraded shares of Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Finally, Autonomous Res cut their price objective on shares of 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and a consensus target price of $61.60.

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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