OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Bank of America Corporation (NYSE:BAC) by 42.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,032 shares of the financial services provider’s stock after buying an additional 12,902 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Bank of America were worth $2,375,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Brighton Jones LLC increased its stake in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 6,174 shares during the last quarter. Jump Financial LLC increased its stake in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 18,227 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Bank of America in the 2nd quarter valued at $1,396,000. Finally, Vivaldi Capital Management LP increased its stake in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after buying an additional 355 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Bank of America Stock Down 0.8%
Bank of America stock opened at $53.08 on Thursday. The firm has a market capitalization of $379.28 billion, a PE ratio of 13.14, a P/E/G ratio of 0.91 and a beta of 1.23. The company’s 50-day moving average is $50.34 and its 200-day moving average is $52.32. Bank of America Corporation has a fifty-two week low of $38.60 and a fifty-two week 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.
Bank of America Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s payout ratio is presently 27.72%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on BAC. Jefferies Financial Group lifted their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Daiwa Securities Group lowered their price objective on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Barclays boosted their price objective on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Erste Group Bank lowered shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.90.
Get Our Latest Stock Report on BAC
Insider Buying and Selling
In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 227,832 shares of company stock valued at $11,094,960. Company insiders own 0.27% of the company’s stock.
Bank of America News Roundup
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Jefferies reiterated a Buy on BAC and raised its price target to $65 (from $60) after BofA’s strong Q1, signaling upside from fundamentals and catalyst-driven re-rating. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
- Positive Sentiment: Piper Sandler and Truist lifted their BAC targets after the Q1 beat, reflecting follow-through from the quarter and supporting valuation upside expectations. Piper Sandler, Truist Raise Bank of America (BAC) Targets After Q1 Beat
- Positive Sentiment: Details from BAC’s Q1 earnings call show broad-based revenue and earnings growth, stronger-than-expected net interest income, and stable credit quality — fundamentals that underpin analyst upgrades. 5 Insightful Analyst Questions From Bank of America’s Q1 Earnings Call
- Positive Sentiment: BAC’s push on AI and “phygital” branch strategy is highlighted as a driver of margin expansion (cost saves + revenue opportunities), supporting medium-term earnings upside. BAC’s AI Edge Likely to Drive Margin Expansion: Should You Invest Now?
- Positive Sentiment: Sector context: several big banks delivered Q1 beats, giving financial stocks a lift and creating a supportive backdrop for BAC if the macro stays stable. Big Bank Earnings Gave Financials a Lift, But Wall Street Is Still Cautious (BAC)
- Neutral Sentiment: Regulatory disclosure: BAC reported a >3% position in Umicore (downward threshold notification) — a fund/holdings disclosure that doesn’t directly affect BAC’s fundamentals. Umicore – Transparency notification by Bank of America Corporation
- Neutral Sentiment: BofA research produced high-profile commodity calls (e.g., aggressive silver forecasts) and analyst actions on other companies (Twilio upgrade; reaffirming Buy on Grab) — highlights the bank’s active research franchise, but these items are indirect for BAC equity moves. Bank of America has stark message for Silver investors Twilio upgraded by Bank of America on AI-driven growth outlook
- Negative Sentiment: BofA research flagged that global long-only funds are continuing to rotate out of U.S. equities into international markets (March flows), a trend that can sap demand for large-cap U.S. banks and help explain today’s selling pressure. Are investors turning bearish on US stocks? BofA flags outflows
Bank of America 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.
Further Reading
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC – Free Report).
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.
