6,745,788 Shares in Bank of America Corporation $BAC Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,745,788 shares of the financial services provider’s stock, valued at approximately $371,467,000. Bank of America accounts for approximately 1.2% of Eurizon Capital SGR S.p.A.’s holdings, making the stock its 12th largest holding.

Several other hedge funds have also added to or reduced their stakes in BAC. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter worth approximately $27,000. Legacy Bridge LLC boosted its position in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after buying an additional 330 shares during the period. Collier Financial acquired a new stake in Bank of America during the 3rd quarter worth approximately $30,000. Joseph Group Capital Management acquired a new stake in Bank of America during the 4th quarter worth approximately $32,000. Finally, HFM Investment Advisors LLC boosted its position in Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after buying an additional 532 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAC shares. Truist Financial lifted their target price on shares of Bank of America from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. UBS Group boosted their price target on shares of Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Bank of America Stock Up 1.6%

Bank of America stock opened at $51.56 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 12-month low of $43.36 and a 12-month high of $57.55. The firm’s fifty day moving average is $51.11 and its 200 day moving average is $52.32. The company has a market capitalization of $365.91 billion, a PE ratio of 12.76, a PEG ratio of 0.86 and a beta of 1.21.

Bank of America (NYSE:BAC) last released its earnings results 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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the previous year, the company earned $0.90 EPS. Bank of America’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced 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. 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 at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% 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 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 transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 354,588 shares of company stock worth $17,814,296 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.