Intech Investment Management LLC Increases Position in Bank of America Corporation $BAC

Key Points

• Intech Investment Management LLC increased its Bank of America stake by 12.5% in the fourth quarter, adding 30,902 shares and bringing its total holdings to 277,208 shares worth about $15.25 million.
• Bank of America recently beat first-quarter expectations, reporting $1.11 EPS versus the $1.00 consensus and revenue of $30.27 billion, with revenue up 10.7% year over year. Management also signaled about 15% trading revenue growth ahead, supporting optimism around earnings momentum.
• Analyst sentiment remains broadly positive: the stock has a Moderate Buy consensus with 22 Buy ratings and an average price target of $61.06. The company also declared a quarterly dividend of $0.28 per share, yielding about 2.2% annually.

Intech Investment Management LLC raised its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 277,208 shares of the financial services provider's stock after buying an additional 30,902 shares during the period. Intech Investment Management LLC's holdings in Bank of America were worth $15,246,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legacy Bridge LLC boosted its position 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 buying an additional 330 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America in the third quarter valued at approximately $27,000. Collier Financial purchased a new stake in shares of Bank of America in the third quarter valued at approximately $30,000. Joseph Group Capital Management purchased a new stake in shares of Bank of America in the fourth quarter valued at approximately $32,000. Finally, HFM Investment Advisors LLC boosted its holdings in shares of Bank of America by 566.0% in the fourth 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 during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $59.00 price target on shares of Bank of America in a report on Thursday, April 16th. Jefferies Financial Group boosted their price target on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price target on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Erste Group Bank lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, Robert W. Baird boosted their price target on Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $61.06.

Bank of America Stock Up 1.6%

Bank of America stock opened at $51.56 on Friday. The business has a fifty day moving average of $51.11 and a two-hundred day moving average of $52.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a market cap of $365.91 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 1.21. Bank of America Corporation has a twelve month low of $43.36 and a twelve month high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates 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%.Bank of America's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. Bank of America's dividend payout ratio is currently 27.72%.

Insider Buying and Selling

In other Bank of America news, insider James P. Demare sold 83,832 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction on Thursday, March 5th. The stock was 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 of the company's stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 354,588 shares of company stock worth $17,814,296 in the last three months. Corporate insiders own 0.27% of the company's stock.

Bank of America Company 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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