Vantus Wealth LLC Acquires New Stake in Bank of America Corporation $BAC

Key Points

• Vantus Wealth LLC opened a new position in Bank of America during the fourth quarter, buying 12,166 shares valued at about $669,000.
• Institutional ownership remains very high, with major investors like Vanguard, Capital World Investors, Norges Bank, and Fisher Asset Management all increasing or adding to BAC stakes. Overall, about 70.71% of the stock is owned by hedge funds and other institutions.
• Bank of America reported better-than-expected quarterly results, posting EPS of $1.11 versus the $1.00 estimate and revenue of $30.27 billion versus the $29.72 billion forecast. Analysts remain constructive, with a consensus rating of Moderate Buy and an average price target of $61.06.

Vantus Wealth LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,166 shares of the financial services provider's stock, valued at approximately $669,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after purchasing an additional 23,351,183 shares during the last quarter. Capital World Investors boosted its stake in Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock valued at $7,448,816,000 after purchasing an additional 14,275,810 shares during the last quarter. Norges Bank purchased a new stake in Bank of America during the 4th quarter valued at $4,774,210,000. Fisher Asset Management LLC boosted its stake in Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider's stock valued at $2,958,110,000 after purchasing an additional 1,105,833 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. HSBC increased their target price on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an "outperform" rating and set a $59.00 target price on shares of Bank of America in a research note on Thursday, April 16th. Keefe, Bruyette & Woods raised their price target 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. Finally, Robert W. Baird raised their price target 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. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $61.06.

Bank of America Stock Performance

BAC stock opened at $51.48 on Tuesday. The company has a market cap of $365.36 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.87 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 current ratio of 0.81 and a quick ratio of 0.81. The stock's fifty day moving average price is $51.20 and its 200-day moving average price is $52.30.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, equities analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Announces Dividend

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

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts and commentators continue to highlight Bank of America’s earnings power, with recent pieces pointing to its strong deposit franchise, attractive valuation, and resilient near-term outlook. Bank of America's Deposit Franchise Is the Hidden Asset Investors Keep Missing
• Positive Sentiment: Reuters-referenced reports say BAC expects second-quarter trading revenue to rise about 15% year over year, helped by elevated market volatility and stronger trading activity, which could lift results. Bank of America (BAC) Expects Q2 Trading Revenue to Jump 15%, Reuters Reports
• Positive Sentiment: Another recent note said Bank of America’s CEO sounded constructive on the near-term outlook, including better full-year net interest income trends, reinforcing confidence in the bank’s core business. Is Bank of America (BAC) the Best Undervalued Financial Stock to Buy Now?
• Neutral Sentiment: Several items focused on Bank of America Securities research in unrelated markets such as Indian IT, Amazon’s satellite internet plans, and Nvidia’s AI platform; these reinforce BAC’s broader market intelligence franchise but are unlikely to move the stock on their own. AI will expand opportunities for Indian IT; luxury housing demand remains strong: BofA Securities
• Neutral Sentiment: Coverage saying Bank of America kept a neutral view on AST SpaceMobile was about another company and does not materially affect BAC’s fundamentals. Bank of America and New Street Research Maintain Neutral Stance on AST SpaceMobile (ASTS) Amid Launch Delays
• Neutral Sentiment: Articles on BofA-hosted investor forums in Asia and quant markets indicate active client engagement and asset-management relationships, but they are not direct stock catalysts. BofA Securities Asia Forum Gathers Global Investors Amid Surge in Hedge Funds Allocations

Insider Buying and Selling

In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 354,588 shares of company stock valued at $17,814,296 over the last three months. 0.27% of the stock is currently owned by company insiders.

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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