SBI Okasan Asset Management Co.Ltd. Takes $775,000 Position in Bank of America Corporation $BAC

Key Points

• SBI Okasan Asset Management opened a new position in Bank of America in the fourth quarter, buying 14,000 shares worth about $775,000.
• Institutional interest in BAC remains broad, with 70.71% of shares held by hedge funds and other institutions. Several other investors also increased or initiated stakes in the bank.
• Bank of America posted stronger-than-expected quarterly results, and analysts remain generally positive: the stock has a Moderate Buy consensus with an average target price of $61.06, while the company also announced a quarterly dividend of $0.28 per share.

SBI Okasan Asset Management Co.Ltd. acquired a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,000 shares of the financial services provider's stock, valued at approximately $775,000.

Other institutional investors have also modified their holdings of the company. Legacy Bridge LLC grew its stake in shares of 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 buying an additional 330 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America in the third quarter valued at $27,000. Collier Financial acquired a new position in Bank of America during the 3rd quarter worth $30,000. Joseph Group Capital Management acquired a new position in Bank of America during the 4th quarter worth $32,000. Finally, HFM Investment Advisors LLC grew its stake 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 worth $34,000 after purchasing an additional 532 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Analysts Set New Price Targets

Several research analysts recently commented on BAC shares. Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods boosted their target price on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Robert W. Baird boosted their target price on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Morgan Stanley lowered their target price on 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, Piper Sandler boosted their target price on Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $61.06.

Insiders Place Their Bets

In other news, insider James P. Demare sold 83,832 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares of the company's stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 354,588 shares of company stock valued at $17,814,296. 0.27% of the stock is owned by insiders.

Bank of America Trading Up 1.6%

NYSE:BAC opened at $51.56 on Friday. The stock has a 50-day simple moving average of $51.11 and a 200-day simple moving average of $52.32. The stock has a market cap of $365.91 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 1.21. Bank of America Corporation has a 1 year low of $43.36 and a 1 year high of $57.55. 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 released 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 analysts' expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. As a group, analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is currently 27.72%.

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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