Horizon Investments LLC Grows Position in Bank of America Corporation $BAC

Key Points

• Horizon Investments LLC increased its stake in Bank of America by 103.4% in Q4, adding 282,542 shares to hold 555,891 shares worth about $30.57 million.
• Corporate insiders have been net sellers, offloading 227,832 shares (~$11.09 million) in the past three months, including Bernard A. Mensah (94,000 shares) and Thomas M. Scrivener (50,000 shares).
• Bank of America beat Q1 expectations with EPS $1.11 (vs. $1.00) and $30.27B revenue, drew analyst price-target upgrades to a consensus Moderate Buy (~$61.02), and announced a $0.28 quarterly dividend.

Horizon Investments LLC boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 103.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 555,891 shares of the financial services provider's stock after purchasing an additional 282,542 shares during the period. Horizon Investments LLC's holdings in Bank of America were worth $30,574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Bridge LLC lifted its position in 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 in the last quarter. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter valued at $27,000. Collier Financial purchased a new position in Bank of America during the third quarter valued at $30,000. Joseph Group Capital Management purchased a new position in Bank of America during the fourth quarter valued at $32,000. Finally, Marquette Asset Management LLC purchased a new position in Bank of America during the third quarter valued at $30,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.27% of the company's stock.

Bank of America Price Performance

NYSE:BAC opened at $53.28 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $380.75 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.90 and a beta of 1.23. Bank of America Corporation has a 12 month low of $40.56 and a 12 month high of $57.55. The business's 50-day moving average is $50.34 and its 200 day moving average is $52.42.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's payout ratio is currently 27.72%.

Key Bank of America News

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

• Positive Sentiment: Q1 results beat expectations — BAC reported stronger‑than‑expected EPS and revenue for the quarter (EPS $1.11 vs. $1.00 estimate; revenue $30.27B vs. $29.72B), showing solid core performance and margin recovery. This supports earnings momentum and the valuation multiple.
• Positive Sentiment: Multi‑year Alaska Air co‑brand extension and heavy buybacks — BAC extended its largest co‑brand credit card partnership with Alaska Air, supporting future card revenue and deposits; the bank has also been executing large buybacks (~$18.7B in the last 12 months), which reduces share count and supports EPS. Read More.
• Positive Sentiment: High‑profile endorsement — Jim Cramer publicly called Bank of America "way too cheap" and said it should be bought on Mad Money, which can attract retail interest and buying flows in the short term. Read More.
• Neutral Sentiment: BofA Securities research activity (NVIDIA and others) — BofA’s analysts maintained a Buy on NVIDIA (and are active on names like Pearson, Alignment Healthcare, Block). This highlights the firm’s strong research franchise and potential trading/research revenue, but these calls are indirect for BAC’s stock performance. Read More. • Read More. • Read More. • Read More.
• Neutral Sentiment: BofA research calls on commodities and macro (silver $309 scenario) — the bank’s high‑end silver forecast is a thematic research call that could influence commodity traders but has limited direct bearing on BAC’s fundamentals. Read More.
• Neutral Sentiment: Industry coverage and media pieces (branch strategy) — general coverage noting banks opening branches and shifting strategies may affect BAC over time, but these stories are background rather than immediate catalysts. Read More.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BAC shares. CICC Research started coverage on Bank of America in a research note on Wednesday, January 14th. They issued an "outperform" rating and a $62.00 price objective for the company. Wells Fargo & Company upped their price objective on Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Evercore upped their price objective on Bank of America from $55.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Robert W. Baird upped their price objective on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $61.02.

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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