Resources Management Corp CT ADV Has $6.27 Million Holdings in Bank of America Corporation $BAC

Key Points

• Resources Management Corp CT ADV dramatically increased its Bank of America stake by 4,943.2% in the fourth quarter, ending with 113,977 shares valued at about $6.27 million.
• Bank of America recently reported better-than-expected quarterly results, with EPS of $1.11 on revenue of $30.27 billion, and it raised its quarterly dividend to $0.28 per share for a 2.0% annualized yield.
• Analysts remain broadly positive on BAC, with 22 Buy ratings and a consensus target price of $61.06, even as an insider sale of 126,756 shares by Geoffrey S. Greener was disclosed.

Resources Management Corp CT ADV boosted its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 4,943.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,977 shares of the financial services provider's stock after purchasing an additional 111,717 shares during the quarter. Resources Management Corp CT ADV's holdings in Bank of America were worth $6,269,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legacy Bridge LLC raised its stake 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 purchasing an additional 330 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Bank of America during the 3rd quarter valued at $27,000. Joseph Group Capital Management acquired a new position in Bank of America during the 4th quarter valued at $32,000. HFM Investment Advisors LLC raised its stake 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 valued at $34,000 after buying an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners raised its stake in shares of 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 in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated 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 sale, the insider owned 1,373,397 shares of the company's stock, valued at $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 can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Trending Headlines about 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

Bank of America Stock Down 0.1%

BAC opened at $55.96 on Monday. The firm's 50-day simple moving average is $52.29 and its 200-day simple moving average is $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 Corporation has a twelve month low of $43.66 and a twelve month high of $57.55. The firm has a market cap of $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.95 and a beta of 1.19.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. HSBC increased their price objective on shares of Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Jefferies Financial Group increased their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Morgan Stanley dropped their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

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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