Kovitz Investment Group Partners LLC boosted its position in Bank of America Corporation (NYSE:BAC - Free Report) by 147.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,152,105 shares of the financial services provider's stock after buying an additional 686,084 shares during the period. Kovitz Investment Group Partners LLC's holdings in Bank of America were worth $48,077,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hayek Kallen Investment Management grew its position in Bank of America by 2.0% during the fourth quarter. Hayek Kallen Investment Management now owns 12,022 shares of the financial services provider's stock valued at $528,000 after buying an additional 233 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Bank of America by 1.4% in the fourth quarter. Continuum Advisory LLC now owns 16,707 shares of the financial services provider's stock worth $734,000 after buying an additional 237 shares in the last quarter. Menard Financial Group LLC lifted its holdings in shares of Bank of America by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 20,620 shares of the financial services provider's stock worth $906,000 after buying an additional 240 shares in the last quarter. Maia Wealth LLC lifted its holdings in shares of Bank of America by 1.4% in the first quarter. Maia Wealth LLC now owns 17,334 shares of the financial services provider's stock worth $723,000 after buying an additional 240 shares in the last quarter. Finally, Northern Financial Advisors Inc increased its position in Bank of America by 1.8% in the first quarter. Northern Financial Advisors Inc now owns 14,383 shares of the financial services provider's stock worth $600,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.
Bank of America Trading Down 1.7%
NYSE BAC traded down $0.80 on Friday, reaching $46.91. The company had a trading volume of 26,258,666 shares, compared to its average volume of 33,527,488. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $49.31. The stock's 50 day moving average is $46.65 and its 200-day moving average is $43.79. The stock has a market cap of $347.46 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.85 and a beta of 1.31. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 1.14.
Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Bank of America had a return on equity of 10.25% and a net margin of 14.81%. The company had revenue of ($22,273.00) million for the quarter, compared to analyst estimates of $26.79 billion. During the same quarter last year, the company earned $0.83 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.
Bank of America declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 23rd that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Bank of America Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Bank of America's previous quarterly dividend of $0.26. Bank of America's dividend payout ratio is presently 30.41%.
Insider Buying and Selling
In other news, insider James P. Demare sold 148,391 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $45.57, for a total value of $6,762,177.87. Following the transaction, the insider owned 223,407 shares in the company, valued at $10,180,656.99. The trade was a 39.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on BAC. Phillip Securities cut shares of Bank of America from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group increased their price target on shares of Bank of America from $46.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Hsbc Global Res lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Robert W. Baird reaffirmed a "neutral" rating and issued a $52.00 price objective on shares of Bank of America in a research report on Friday, June 27th. Finally, Morgan Stanley increased their price objective on shares of Bank of America from $47.00 to $49.00 and gave the company an "overweight" rating in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.13.
View Our Latest Report on Bank of America
Bank of America Company Profile
(
Free Report)
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
Featured Articles

Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for August 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.