Bank of America Corporation $BAC Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in Bank of America Corporation (NYSE:BAC) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,783,821 shares of the financial services provider’s stock after buying an additional 1,105,833 shares during the period. Bank of America makes up approximately 1.0% of Fisher Asset Management LLC’s holdings, making the stock its 28th biggest position. Fisher Asset Management LLC’s holdings in Bank of America were worth $2,958,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Choate Investment Advisors boosted its position in shares of Bank of America by 2.4% in the fourth quarter. Choate Investment Advisors now owns 63,748 shares of the financial services provider’s stock worth $3,506,000 after buying an additional 1,495 shares during the period. Sandy Cove Advisors LLC boosted its position in shares of Bank of America by 6.4% in the fourth quarter. Sandy Cove Advisors LLC now owns 6,861 shares of the financial services provider’s stock worth $377,000 after buying an additional 413 shares during the period. 44 Wealth Management LLC boosted its position in shares of Bank of America by 27.5% in the fourth quarter. 44 Wealth Management LLC now owns 11,987 shares of the financial services provider’s stock worth $659,000 after buying an additional 2,583 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of Bank of America by 4.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 19,686 shares of the financial services provider’s stock worth $1,083,000 after buying an additional 882 shares during the period. Finally, Clearstead Advisors LLC boosted its position in shares of Bank of America by 8.3% in the fourth quarter. Clearstead Advisors LLC now owns 160,848 shares of the financial services provider’s stock worth $8,847,000 after buying an additional 12,282 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America 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 completion of the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade 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 accessible through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction on Thursday, March 12th. The shares were 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. The trade was a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,588 shares of company stock worth $17,814,296 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. HSBC raised 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 reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Bank of America in a research report on Thursday, April 16th. Oppenheimer raised their target price on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America Price Performance

BAC opened at $51.81 on Monday. The stock has a market cap of $367.64 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a 1 year low of $42.35 and a 1 year high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average price of $50.65 and a 200 day moving average price of $52.37.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. Analysts forecast that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Dividend Announcement

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