Public Employees Retirement Association of Colorado Reduces Holdings in Bank of America Corporation $BAC

Key Points

• Public Employees Retirement Association of Colorado reduced its Bank of America stake by 2.2% in the fourth quarter, though it still held 898,327 shares worth about $49.4 million.
• Insider Geoffrey S. Greener sold 126,756 shares in early May for roughly $6.7 million, leaving his position down 8.45% after the transaction.
• Wall Street remains constructive on BAC: analysts currently assign a Moderate Buy consensus with a target price of $61.06, while the company also beat Q1 earnings and revenue estimates and announced a quarterly dividend of $0.28 per share.

Public Employees Retirement Association of Colorado cut its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 898,327 shares of the financial services provider's stock after selling 19,921 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Bank of America were worth $49,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Legacy Bridge LLC boosted its holdings in Bank of America by 182.3% during 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 during the period. Wiser Advisor Group LLC purchased a new stake in Bank of America during the 3rd quarter valued at about $27,000. Joseph Group Capital Management purchased a new stake in Bank of America during the 4th quarter valued at about $32,000. HFM Investment Advisors LLC boosted its holdings in Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 532 shares during the period. Finally, Coston McIsaac & Partners lifted its holdings 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 worth $36,000 after buying an additional 314 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. UBS Group increased their price objective on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price objective on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a report on Friday, April 24th. Evercore dropped their price objective on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $59.00 price objective on shares of Bank of America 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 company's stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $61.06.

Key Bank of America News

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

Bank of America Stock Down 0.1%

Shares of NYSE:BAC opened at $55.96 on Monday. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. The firm has a market capitalization 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. The stock has a 50 day moving average price of $52.29 and a 200-day moving average price of $52.42. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results 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. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The business's revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

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

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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