Bank Julius Baer & Co. Ltd Zurich Has $74.32 Million Holdings in Bank of America Corporation $BAC

Bank Julius Baer & Co. Ltd Zurich lifted its position in Bank of America Corporation (NYSE:BAC) by 3,747.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,348,860 shares of the financial services provider’s stock after acquiring an additional 1,313,798 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Bank of America were worth $74,319,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC boosted its stake in shares of Bank of America by 54.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 20,591 shares during the period. Lockheed Martin Investment Management Co. increased its stake in shares of Bank of America by 15.9% in the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after acquiring an additional 86,290 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Bank of America during the third quarter worth $482,000. 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. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in Bank of America by 11.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock valued at $34,974,000 after purchasing an additional 68,093 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BAC. HSBC upped their target price on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a research note on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. UBS Group raised their price objective on shares of Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to 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’s own analysts upgraded Akamai Technologies to Buy, highlighting a broader shift toward viewing network and infrastructure names as AI beneficiaries; that reinforces BofA’s role as an active and influential deal/rating house in AI-linked stocks. Akamai Technologies upgraded by Bank of America on AI infrastructure shift
• Positive Sentiment: Bank of America is also being portrayed as an AI-era winner itself, with coverage noting branch expansion plus AI tools could help deepen customer relationships, support deposit growth, and strengthen its hybrid banking model. Can Branch Expansion Give Bank of America an Edge in the AI Era?
• Positive Sentiment: News that Bank of America joined LTX as a fully integrated liquidity provider on an AI-powered corporate bond trading platform highlights continued investment in electronic trading and fixed-income technology, which could improve efficiency and market share over time. Bank Of America Deepens AI Bond Trading Role With LTX Partnership
• Positive Sentiment: Industry data showed large U.S. banks, including Bank of America, led record share repurchases in the first quarter, which supports per-share earnings and signals strong capital generation. Bank Stock Buybacks Hit a Record in First Quarter. Citi, BofA, and Goldman Were Leaders.
• Neutral Sentiment: Seeking Alpha’s “Undercovered Dozen” piece included Bank of America among lesser-covered stocks, but it does not appear to introduce a major new catalyst by itself. Undercovered Dozen: Bank Of America, Plug Power, Dycom And More
• Negative Sentiment: BofA Securities settled an insider-trading-related case with India’s Sebi, a headline that may create some reputational noise, though the financial penalty was relatively small. BofA Securities settles insider trading case with Sebi

Bank of America Stock Performance

BAC opened at $49.83 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $353.65 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. The stock has a 50-day moving average of $50.42 and a 200-day moving average of $52.48. Bank of America Corporation has a 52-week low of $42.35 and a 52-week high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The business 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 earned $0.90 EPS. As a group, equities research analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America’s payout ratio is presently 27.72%.

Insider Activity

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider owned 170,184 shares of the company’s stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s 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 sale, the insider owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 354,588 shares of company stock valued at $17,814,296 over the last three months. Corporate insiders own 0.27% of the company’s stock.

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.