Piedmont Capital Management LLC NC Acquires Shares of 17,219 Bank of America Corporation $BAC

Key Points

• Piedmont Capital Management opened a new position in Bank of America, buying 17,219 shares worth about $947,000 in the fourth quarter. The stake represents 0.6% of its portfolio and is its 25th-largest holding.
• Bank of America reported better-than-expected quarterly results, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion, up 10.7% year over year. Analysts currently have a Moderate Buy consensus rating with an average price target of $61.06.
• The bank also announced a quarterly dividend of $0.28 per share, payable June 26, for an annualized yield of about 2.0%. Institutional ownership remains high at 70.71%, though an insider recently sold more than 126,000 shares.

Piedmont Capital Management LLC NC acquired a new stake in Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 17,219 shares of the financial services provider's stock, valued at approximately $947,000. Bank of America accounts for 0.6% of Piedmont Capital Management LLC NC's holdings, making the stock its 25th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC acquired a new position in Bank of America in the 3rd quarter valued at approximately $27,000. Legacy Bridge LLC increased its stake in 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 buying an additional 330 shares during the period. Joseph Group Capital Management acquired a new position in Bank of America in the 4th quarter valued at approximately $32,000. HFM Investment Advisors LLC increased its stake in 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 valued at $34,000 after buying an additional 532 shares during the period. Finally, Coston McIsaac & Partners increased its stake in Bank of America by 90.2% in the 4th quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock valued at $36,000 after buying an additional 314 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Price Performance

NYSE BAC opened at $55.96 on Monday. 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 fifty day simple moving average of $52.29 and a 200 day simple moving average of $52.42. The company has a market cap of $397.15 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.95 and a beta of 1.19. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. On average, sell-side analysts predict that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is currently 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time. Bank of America Corporation
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Wall Street Analysts Forecast Growth

BAC has been the topic of several research reports. Erste Group Bank lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. Autonomous Res decreased their target price on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. UBS Group boosted their target price on shares of Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Finally, HSBC boosted their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

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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