WealthPlan Investment Management LLC Raises Stock Position in Bank of America Corporation $BAC

Key Points

• WealthPlan Investment Management increased its Bank of America stake by 190.3% in the fourth quarter, bringing its holdings to 39,491 shares valued at about $2.17 million.
• Other institutional investors also boosted their positions, and 70.71% of Bank of America’s stock is now owned by hedge funds and other institutional investors.
• Bank of America beat quarterly earnings estimates with $1.11 EPS versus $1.00 expected, and it also announced a quarterly dividend of $0.28 per share payable June 26.

WealthPlan Investment Management LLC grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 190.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,491 shares of the financial services provider's stock after purchasing an additional 25,888 shares during the period. WealthPlan Investment Management LLC's holdings in Bank of America were worth $2,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% during the third 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. Vanguard Group Inc. increased its stake in Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Capital World Investors increased its stake in Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares during the period. American Assets Investment Management LLC increased its stake in Bank of America by 1,248.5% during the fourth quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider's stock worth $837,338,000 after purchasing an additional 14,095,375 shares during the period. Finally, Danske Bank A S purchased a new stake in Bank of America during the third quarter worth about $224,863,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore cut their target price on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Robert W. Baird upped their target price on shares of Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Truist Financial upped their target price on shares of Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, UBS Group upped their target price on shares of Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $61.06.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America was highlighted in a market piece favoring large banks because deteriorating credit conditions in the second half of 2026 could make bigger, diversified lenders like BAC relatively more attractive. Best Bank Stocks to Buy in 2026
• Positive Sentiment: Bank of America received a boost to its reputation for digital banking after tying for first place in Keynova Group’s digital banking experience ranking, which may support customer retention and long-term competitiveness. Bank Of America’s Digital Win And What It Means For Investors

Insider Activity at Bank of America

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were 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 in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company's stock.

Bank of America Stock Down 0.0%

BAC stock opened at $49.77 on Monday. The company's 50 day moving average price is $50.40 and its 200 day moving average price is $52.44. 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 fifty-two week low of $42.35 and a fifty-two week high of $57.55. The firm has a market capitalization of $353.18 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.84 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio is currently 27.72%.

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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