Westerkirk Capital Inc. Invests $927,000 in Bank of America Corporation $BAC

Key Points

• Westerkirk Capital opened a new position in Bank of America during the fourth quarter, buying 16,860 shares worth about $927,000.
• Bank of America reported better-than-expected quarterly results, posting $1.11 EPS versus the $1.00 estimate and revenue of $30.27 billion, while revenue rose 10.7% year over year.
• The bank also announced a quarterly dividend of $0.28 per share, payable June 26, and analysts remain broadly constructive with a consensus rating of Moderate Buy and a price target of $61.06.

Westerkirk Capital Inc. purchased a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,860 shares of the financial services provider's stock, valued at approximately $927,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. DecisionMap Wealth Management LLC boosted its holdings in Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 182 shares during the period. Money Concepts Capital Corp boosted its holdings in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 182 shares during the period. Holistic Financial Partners boosted its holdings in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 183 shares during the period. Operose Advisors LLC boosted its holdings in Bank of America by 0.9% during the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after acquiring an additional 185 shares during the period. Finally, Asahi Life Asset Management CO. LTD. boosted its holdings in Bank of America by 1.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after acquiring an additional 187 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC stock opened at $53.62 on Tuesday. 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 firm has a market capitalization of $380.48 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.91 and a beta of 1.19. The business's 50-day moving average is $51.73 and its two-hundred day moving average is $52.32. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55.

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 for the quarter, topping the consensus estimate 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 business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same quarter last year, the company earned $0.90 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. Analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 27.72%.

Insider Activity

In other news, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BAC shares. Truist Financial raised their target price on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Evercore lowered their target price on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Keefe, Bruyette & Woods raised their target price on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. UBS Group raised their target price on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Finally, Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

More Bank of America News

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

• Positive Sentiment: Bank of America and other large U.S. banks are moving ahead with a shared tokenized deposit network, which could help BAC defend its payments franchise and participate in faster, blockchain-based money movement as stablecoin competition heats up. Bank Of America Joins Tokenized Deposit Network To Defend Payments Business
• Positive Sentiment: Analyst coverage continues to frame Bank of America as a strong large-cap bank with global scale, diversified revenue, and a solid deposit base that could benefit from better capital-markets activity and a more favorable rate environment. Bank of America vs. Truist: Which Bank Offers Better Upside in 2026?
• Neutral Sentiment: Bank of America also highlighted broader banking innovation by joining discussions around tokenized deposits, reinforcing its role in next-generation payments, though this is more of a long-term strategic theme than a near-term earnings driver. Big Banks Eye Tokenized Deposits as Stablecoin Competition Heats Up
• Neutral Sentiment: BofA’s analysts have also been active across other stocks, including upgrades and price-target changes, but these calls do not directly change BAC’s fundamentals. UnitedHealth Stock Jumps on Upgrade From Bank of America. UNH Is No Longer Just an Insurance Company.
• Negative Sentiment: In contrast, Bank of America’s market commentary has turned more defensive: it warned that only 20 S&P 500 stocks hit record highs in May, a level it views as reminiscent of past late-cycle market peaks. Bank of America says only 20 S&P 500 stocks hit record highs in May — the same number as the dot-com bubble peak in 2000
• Negative Sentiment: Another BofA warning said investors should “take profits” as multiple bear-market signposts are flashing, and the firm cautioned that a further market drop could trigger systematic selling. That kind of risk-off message can weigh on sentiment for BAC and the broader banking group. Time to ‘Take Profits,’ Warns BofA as ‘Bear Market Signposts’ Flash Red

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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