Mizuho Markets Americas LLC Takes $40.07 Million Position in Bank of America Corporation $BAC

Key Points

• Mizuho Markets Americas opened a new position in Bank of America during the fourth quarter, buying 728,500 shares worth about $40.07 million.
• Bank of America’s latest quarter beat expectations, with EPS of $1.11 versus $1.00 expected and revenue of $30.27 billion, up 10.7% year over year.
• The company declared a quarterly dividend of $0.28 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $61.06.

Mizuho Markets Americas LLC purchased a new position in Bank of America Corporation (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 728,500 shares of the financial services provider's stock, valued at approximately $40,068,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Bridge LLC grew its stake in Bank of America by 182.3% in 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 during the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the third quarter valued at about $27,000. Collier Financial purchased a new stake in shares of Bank of America during the third quarter valued at about $30,000. Joseph Group Capital Management bought a new stake in shares of Bank of America in the 4th quarter valued at about $32,000. Finally, HFM Investment Advisors LLC grew its position in shares of Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after buying an additional 532 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 227,973 shares of the company's stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 354,588 shares of company stock worth $17,814,296. Insiders own 0.27% of the company's stock.

Bank of America Stock Up 0.6%

NYSE:BAC opened at $51.81 on Friday. The company has a market cap of $367.64 billion, a PE ratio of 12.82, a P/E/G ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a twelve month low of $42.35 and a twelve 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. The company's 50 day moving average is $50.65 and its two-hundred day moving average is $52.38.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business's quarterly revenue was up 10.7% on a year-over-year basis. Analysts anticipate that Bank of America Corporation will post 4.46 EPS for the current 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 paid a $0.28 dividend. 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 (DPR) is 27.72%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Autonomous Res reduced their price objective on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Piper Sandler increased their price objective on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

About Bank of America

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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