Wellspring Financial Advisors LLC Increases Stock Holdings in Bank of America Corporation $BAC

Key Points

• Wellspring Financial Advisors LLC increased its stake in Bank of America by 130% in the fourth quarter, ending with 33,902 shares worth about $1.87 million.
• Bank of America reported strong quarterly earnings, posting $1.11 EPS versus the $1.00 consensus estimate and revenue of $30.27 billion, up 10.7% year over year.
• The company also announced a quarterly dividend of $0.28 per share, implying a 2.1% annualized yield, while analysts maintain a Moderate Buy consensus with an average target price of $61.06.

Wellspring Financial Advisors LLC boosted its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 130.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 33,902 shares of the financial services provider's stock after acquiring an additional 19,165 shares during the quarter. Wellspring Financial Advisors LLC's holdings in Bank of America were worth $1,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAC. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter worth about $27,000. Legacy Bridge LLC lifted its position in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after acquiring an additional 330 shares during the period. Joseph Group Capital Management acquired a new stake in Bank of America during the 4th quarter worth about $32,000. HFM Investment Advisors LLC lifted its position 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 acquiring an additional 532 shares during the period. Finally, Coston McIsaac & Partners lifted its holdings in shares of 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 buying an additional 314 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Up 0.3%

BAC opened at $54.59 on Thursday. Bank of America Corporation has a one year low of $43.66 and a one year high of $57.55. The stock has a market capitalization of $387.39 billion, a PE ratio of 13.51, a P/E/G ratio of 0.92 and a beta of 1.18. The business's 50 day moving average price is $52.03 and its 200 day moving average price is $52.36. 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 EPS for the quarter, beating 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 firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The company 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio is 27.72%.

More Bank of America News

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

• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for Bank of America to $5.10 from $5.08, reinforcing the view that earnings can continue to grow even though the firm still rates BAC a Hold. Article Title
• Positive Sentiment: Bank of America said its markets revenue could exceed 15% growth in Q2, helped by stronger equities trading, which points to solid near-term performance in the trading business. Article Title
• Positive Sentiment: Management also highlighted growing demand for AI-led treasury, FX, and payments solutions in Asia Pacific, suggesting continued momentum in fee-based and transaction services. Article Title
• Positive Sentiment: Bank of America launched new credit-card features, including Custom Pay Plan, Refer-a-Friend, and expanded credit monitoring, which could support card engagement and customer retention. Article Title
• Neutral Sentiment: The Justice Department reportedly subpoenaed Bank of America as part of a broader “debanking” probe into account closures, creating legal and reputational uncertainty, but no formal wrongdoing has been alleged. Article Title
• Neutral Sentiment: Separate reports about BofA’s broad market-warning signals and calls for profit-taking reflect the firm’s cautious macro outlook, but these are more about sentiment than BAC’s own fundamentals. Article Title

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. HSBC boosted their price objective on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Evercore cut their price objective on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. JPMorgan Chase & Co. cut their price objective on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Robert W. Baird boosted their price objective 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. Finally, Jefferies Financial Group boosted their price objective on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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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