Patton Fund Management Inc. Has $7.05 Million Stake in Bank of America Corporation $BAC

Key Points

• Patton Fund Management boosted its stake in Bank of America by 2,209.2% in Q4, adding 122,591 shares to hold 128,140 shares worth about $7.05 million.
• Corporate insiders have been net sellers recently — including James P. Demare (83,832 shares) and Thomas M. Scrivener (50,000 shares) — with insiders offloading 227,832 shares (~$11.09 million) in the past three months; insiders now own 0.27% of the stock.
• Analysts remain largely positive (23 Buys, 5 Holds) with an average target of $59.10; BAC pays a 2.1% yield ($0.28 quarterly) and faces near-term volatility ahead of Q1 earnings.

Patton Fund Management Inc. raised its position in Bank of America Corporation (NYSE:BAC) by 2,209.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 128,140 shares of the financial services provider's stock after purchasing an additional 122,591 shares during the period. Patton Fund Management Inc.'s holdings in Bank of America were worth $7,048,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter worth approximately $27,000. Steph & Co. lifted its position in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after purchasing an additional 379 shares during the period. Legacy Bridge LLC increased its stake in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Marquette Asset Management LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at $30,000. Finally, Collier Financial bought a new stake in shares of Bank of America in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares of the company's stock, valued at $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm'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 transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 over the last three months. 0.27% of the stock is owned by corporate insiders.

Bank of America Price Performance

BAC opened at $53.33 on Tuesday. The firm has a market cap of $381.05 billion, a P/E ratio of 13.92, a PEG ratio of 0.92 and a beta of 1.23. The firm has a 50-day moving average of $50.57 and a 200 day moving average of $52.21. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a fifty-two week low of $36.27 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid 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 (DPR) is currently 29.24%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America analysts and industry coverage expect a strong Q1 for U.S. banks, which supports upside to BAC’s revenue from net interest income, trading and deal activity; this is a direct positive fundamental catalyst for the stock. Why BofA Sees Strong Q1 Earnings for U.S. Banks
• Positive Sentiment: Bank of America’s upbeat semiconductor outlook (cited in coverage about Nvidia and the chip cycle) could lift trading and markets-related revenue and improves sentiment for banks with significant markets businesses like BAC. Think Nvidia's Stock Has Peaked? The Latest Semiconductor Forecast Might Have You Thinking Twice
• Positive Sentiment: Bank of America research driving upgrades at other companies (e.g., Nokia) highlights the franchise value of BofA’s equity research and sales effort — a longer-term reputational tailwind for fee businesses. Nokia jumps as Bank of America turns bullish on AI-driven optical and hyperscaler demand
• Neutral Sentiment: Earnings timing: BAC will report Q1 results Wednesday before the open — this is the immediate event driving volatility as investors reposition ahead of the print. Expect focus on NII, trading, loan-loss provisions and expense trends. Bank of America (BAC) To Report Earnings Tomorrow: Here Is What To Expect
• Neutral Sentiment: Market context: banks (including BAC, WFC, TFC) report into a volatile macro and geopolitical backdrop — investors will parse guidance and credit commentary closely. Bank of America, Wells Fargo and Truist to report Q1 earnings amid market volatility, geopolitical pressure
• Neutral Sentiment: Corporate/branding updates (executive appointment in Oklahoma City; Boston Marathon sponsorship) are modest PR positives but unlikely to move the stock materially. BofA Names Olena Lifset Oklahoma City President Everbridge Supports Race-Day Safety for the 130th Running of the Boston Marathon presented by Bank of America
• Negative Sentiment: An analyst trimmed BAC’s price target by $5 while maintaining a 'buy' rating — the cut reduces implied upside and is a direct near-term headwind for sentiment. Bank of America (BAC) price target trimmed by $5, 'buy' rating maintained
• Negative Sentiment: Pre-earnings caution: some analysts flag rising expenses and credit risk uncertainty heading into Q1, which could limit upside if management highlights higher provisions or cost pressure. Should You Buy BAC Stock Before Q1 Earnings in an Uncertain Market?

Analysts Set New Price Targets

Several research analysts have weighed in on BAC shares. CICC Research started coverage on shares of Bank of America in a report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Bank of America in a report on Thursday, March 26th. They set a "buy" rating and a $60.00 price objective on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. UBS Group lowered their price objective on shares of Bank of America from $67.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $59.10.

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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