HB Wealth Management LLC Buys 20,069 Shares of Bank of America Corporation $BAC

Key Points

• HB Wealth Management LLC increased its stake in Bank of America by 5.1% in Q4, buying an additional 20,069 shares to hold 409,871 shares worth about $22.54 million.
• Bank of America posted a Q1 beat with $1.11 EPS vs. $1.00 estimate and $30.27 billion in revenue, and analysts maintain a consensus rating of "Moderate Buy" with a target price of $60.90 amid several price‑target upgrades.
• Institutional investors own 70.71% of BAC, while corporate insiders sold 227,832 shares (about $11.09 million) in the past 90 days, indicating heavy institutional ownership but recent insider reductions.

HB Wealth Management LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,871 shares of the financial services provider's stock after purchasing an additional 20,069 shares during the quarter. HB Wealth Management LLC's holdings in Bank of America were worth $22,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. United Asset Strategies Inc. grew its stake in Bank of America by 0.5% in the fourth quarter. United Asset Strategies Inc. now owns 333,612 shares of the financial services provider's stock valued at $18,349,000 after acquiring an additional 1,766 shares during the period. Caprock Group LLC grew its stake in Bank of America by 1.8% in the fourth quarter. Caprock Group LLC now owns 198,212 shares of the financial services provider's stock valued at $10,902,000 after acquiring an additional 3,462 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Bank of America by 22.2% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 111,956 shares of the financial services provider's stock valued at $6,158,000 after acquiring an additional 20,370 shares during the period. Gentry Private Wealth LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $484,000. Finally, Bedel Financial Consulting Inc. grew its stake in Bank of America by 16.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 16,204 shares of the financial services provider's stock valued at $891,000 after acquiring an additional 2,325 shares during the period. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research reports. TD Cowen reduced their price objective on Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Jefferies Financial Group upped their price objective on shares of Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. Finally, Autonomous Res lowered 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-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.90.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Jefferies reiterated a Buy on BAC and raised its price target to $65 after the bank’s strong Q1 results, reinforcing upside expectations tied to beat‑and‑raise fundamentals and higher net interest income. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
• Positive Sentiment: Analysts and coverage pieces highlight BAC’s AI and “phygital” strategy as a driver of margin expansion through cost cuts, smarter branch deployment and new revenue opportunities — a structural positive for medium‑term profitability. BAC's AI Edge Likely to Drive Margin Expansion: Should You Invest Now?
• Positive Sentiment: Sector momentum from strong Q1 prints across large banks gave financial stocks a lift, supporting BAC’s fundamentals and investor thesis that the group is recovering. Big Bank Earnings Gave Financials a Lift, But Wall Street Is Still Cautious (BAC)
• Neutral Sentiment: Bank of America Securities remains highly active with analyst coverage and rating changes across many companies (Buys, Holds, Sells). That visibility supports fee generation and market influence but does not immediately change BAC’s own operating results. AI-Driven Growth and Robust Issuance Support Buy Rating on Moody’s
• Neutral Sentiment: Regulatory/ownership filing: BAC disclosed a change in its equivalent financial instruments in Umicore (holding reported at 3.32%), a routine transparency notification that is unlikely to move BAC’s share price materially. Umicore - Transparency notification by Bank of America Corporation
• Negative Sentiment: Bank of America’s own research flagged continued rotation and outflows from U.S. equities into international markets, a trend that can weigh on large, domestically‑exposed names and pressure BAC’s stock in the near term. Are investors turning bearish on US stocks? BofA flags outflows
• Negative Sentiment: A critical comparison piece and other market narratives circulating about BAC versus smaller peers add to headline noise and can amplify short‑term selling pressure even when fundamentals are solid. Global Capital Partners OTCMKTS: GCPL versus Bank of America NYSE: BAC Critical Review

Bank of America Trading Down 0.8%

NYSE BAC opened at $53.08 on Thursday. The firm has a market capitalization of $379.28 billion, a P/E ratio of 13.14, a PEG ratio of 0.91 and a beta of 1.23. The business has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $52.32. Bank of America Corporation has a 12 month low of $38.60 and a 12 month high of $57.55. 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 (NYSE:BAC - Get Free Report) last released its quarterly earnings results 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 net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that Bank of America Corporation will post 4.44 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America's dividend payout ratio is presently 27.72%.

Insiders Place Their Bets

In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America 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 sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 227,832 shares of company stock valued at $11,094,960. Corporate insiders own 0.27% of the company's stock.

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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