SmartHarvest Portfolios LLC Acquires New Holdings in Bank of America Corporation $BAC

Key Points

• SmartHarvest Portfolios LLC disclosed a new position in Bank of America, buying 24,701 shares worth about $1.36 million in the fourth quarter.
• Bank of America reported solid quarterly results, with EPS of $1.11 beating estimates and revenue of $30.27 billion also topping expectations. The company also raised/announced a quarterly dividend of $0.28 per share, or $1.12 annually.
• Analyst sentiment remains constructive overall, with 22 Buy ratings and a consensus price target of $61.06, though the stock faces some overhang from a Justice Department subpoena probe into alleged “debanking.”

SmartHarvest Portfolios LLC acquired a new stake in Bank of America Corporation (NYSE:BAC) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 24,701 shares of the financial services provider's stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at approximately $27,000. Legacy Bridge LLC grew its position 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 purchasing an additional 330 shares during the period. Joseph Group Capital Management acquired a new position in shares of Bank of America in the 4th quarter valued at approximately $32,000. HFM Investment Advisors LLC lifted 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 acquiring an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners lifted 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 acquiring an additional 314 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America launched new client offerings, including pay-over-time tools, an expanded rewards program, and credit monitoring features, which could support card usage, customer retention, and fee revenue. Bank of America Introduces New Ways to Reward Clients, Manage Payments and Track Credit
• Positive Sentiment: The bank is planning real-time global payments through Swift and CashPro, a move that could boost fee income and strengthen client relationships over time. BAC Plans to Launch Real-Time Global Payments: A Fee Revenue Catalyst?
• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Bank of America NYSE: BAC, suggesting more confidence in the company’s longer-term earnings outlook. Bank of America Corporation - Free Report
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, trade, and FX solutions in Asia-Pacific, reinforcing a constructive outlook for its global payments and transaction banking business. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Neutral Sentiment: Bank of America declared preferred stock dividends for multiple series, a routine capital-return update that is not likely to materially move the common stock. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Neutral Sentiment: Several articles referenced Bank of America’s market-timing and stock-market warning indicators, which may reflect caution on broader equities rather than a direct operational issue for BAC. Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
• Negative Sentiment: The Justice Department’s subpoena probe into alleged “debanking,” which includes Bank of America, adds regulatory overhang and could create headlines risk for the shares. US Justice Department subpoenas major banks over alleged 'debanking', WSJ reports

Bank of America Trading Up 1.1%

Shares of Bank of America stock opened at $55.17 on Friday. Bank of America Corporation has a 12-month low of $43.66 and a 12-month high of $57.55. The stock has a market cap of $391.48 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.92 and a beta of 1.18. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The business's 50 day moving average is $52.16 and its 200-day moving average is $52.39.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business's revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

BAC has been the topic of several research reports. UBS Group boosted their target price on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Morgan Stanley cut their target price on Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Robert W. Baird boosted their target price on Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods boosted their target price on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Finally, Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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