WASHINGTON TRUST Co Increases Stake in Bank of America Corporation $BAC

Key Points

• WASHINGTON TRUST Co increased its Bank of America stake by 6.1% in the fourth quarter, adding 15,745 shares to bring its total holdings to 275,841 shares worth about $15.17 million.
• Several other institutional investors also boosted their BAC positions, and 70.71% of the stock is now owned by institutions. Insider selling has also been notable, with insiders selling 354,588 shares worth about $17.8 million over the past three months.
• Bank of America recently beat quarterly expectations, reporting $1.11 EPS on revenue of $30.27 billion, and it also announced a quarterly dividend of $0.28 per share to be paid June 26.

WASHINGTON TRUST Co increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 275,841 shares of the financial services provider's stock after purchasing an additional 15,745 shares during the period. WASHINGTON TRUST Co's holdings in Bank of America were worth $15,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its position in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after purchasing an additional 6,174 shares in the last quarter. Jump Financial LLC boosted its position in Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in Bank of America during the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its stake in Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after acquiring an additional 355 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction dated 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,588 shares of company stock worth $17,814,296 over the last three months. Corporate insiders own 0.27% of the company's stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $51.56 on Friday. The business's 50 day moving average price is $51.11 and its 200 day moving average price is $52.32. The firm 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 52 week low of $43.36 and a 52 week high of $57.55. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last issued 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 net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm's revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Announces Dividend

The company 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 $0.28 dividend. 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 2.2%. Bank of America's payout ratio is presently 27.72%.

Bank of America News Roundup

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

A number of equities analysts have recently issued reports on BAC shares. Autonomous Res reduced their price target on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Argus boosted their target price on Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Piper Sandler increased their price target on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Finally, HSBC increased their price target 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. Twenty-two equities 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

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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