Cullinan Associates Inc. Raises Stake in Bank of America Corporation $BAC

Cullinan Associates Inc. lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 166.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,371 shares of the financial services provider’s stock after buying an additional 97,640 shares during the quarter. Cullinan Associates Inc.’s holdings in Bank of America were worth $8,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC boosted its position in Bank of America by 54.6% during the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after purchasing an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its position in Bank of America by 15.9% during the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. boosted its position in Bank of America by 21.8% during the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after purchasing an additional 13,119 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in Bank of America during the third quarter valued at $482,000. Finally, Mufg Securities Americas Inc. boosted its position in Bank of America by 26.6% during the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after purchasing an additional 41,809 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the topic of several recent research reports. Piper Sandler raised their target price on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. 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 raised their target price on Bank of America from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Royal Bank Of Canada restated an “outperform” rating and set a $59.00 target price on shares of Bank of America in a report on Thursday, April 16th. Finally, Wolfe Research lowered Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.02.

More Bank of America News

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

• Positive Sentiment: Prominent bullish endorsement from Jim Cramer calling BofA “a plain out buy,” which can drive short?term retail and momentum flows. Jim Cramer Believes “Bank of America’s Way Too Cheap, It Should Be Bought”
• Positive Sentiment: Bank extended its large co?brand credit card deal with Alaska Air—its biggest co?brand partnership—which supports card revenue visibility; the article also highlights sizable share buybacks ($18.66B over the prior 12 months), a direct capital return that boosts EPS and supports the share price. BAC Stock In Focus After Multi-Year Alaska Air Extension
• Positive Sentiment: ETF/flow dynamics: coverage notes that BAC is being watched by Russell 1000 ETF activity — passive/quant flows can prop up large-cap bank shares when indexes or rebalance activity favor them. Bank Of America Stock Climbs As Russell 1000 ETF Watches
• Neutral Sentiment: Research franchise highlights — BofA analysts continue to move ratings/targets across large coverage names (examples: upward moves on Western Digital and Caterpillar, and coverage actions on other consumer names). This underscores BofA’s investment?banking/markets footprint but is an indirect driver of the bank’s stock. Bank of America Points to Supply-Demand Imbalance Favoring Western Digital (WDC)
• Neutral Sentiment: Macro/content pieces from BofA (e.g., bold silver price scenarios) showcase research insights but don’t directly change bank fundamentals; they are more about the firm’s sightlines than immediate BAC earnings. Silver Prices Have Pulled Back, But Bank of America Predicts They Could Soar to $309 Before the End of 2026. How?
• Positive Sentiment: Management/advice narratives: BofA’s own market commentary (e.g., telling investors to ignore “sell in May” and hold) can bolster investor confidence and reduce seasonality?driven selling. Bank of America advises investors to ignore the ‘sell in May and go away’ axiom and hold strong this year. Here’s why
• Negative Sentiment: Credit?market watch: BofA research warns non?traded private credit BDC redemption requests likely peak in Q2, signaling stress/liquidity pressures in parts of the credit market — a factor to monitor because worsening credit conditions could eventually pressure bank provisions and lending demand. Private credit BDC redemption requests likely to peak in Q2 2026 – BofA
• Neutral Sentiment: Operational strategy note: coverage mentions a renewed focus on branches (branch?opening spree article) — a strategic choice that may raise near?term costs but could support deposit and local lending growth over time. This major bank is going on a branch-opening spree

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 value of $4,412,360.00. Following the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.27% of the stock is owned by insiders.

Bank of America Price Performance

NYSE BAC opened at $53.57 on Friday. The firm has a market cap of $382.79 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.23. The stock’s 50-day moving average is $50.34 and its two-hundred day moving average is $52.42. Bank of America Corporation has a fifty-two week low of $39.58 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 (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (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 the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. On average, analysts anticipate that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.28 dividend. 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 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.