Cibc World Market Inc. Acquires 261,810 Shares of Bank of America Corporation $BAC

Cibc World Market Inc. increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,094,051 shares of the financial services provider’s stock after purchasing an additional 261,810 shares during the period. Cibc World Market Inc.’s holdings in Bank of America were worth $170,173,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Bridge LLC grew its holdings in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares during the period. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the third quarter worth approximately $27,000. Collier Financial bought a new stake in shares of Bank of America during the third quarter worth approximately $30,000. Joseph Group Capital Management bought a new stake in shares of Bank of America during the fourth quarter worth approximately $32,000. Finally, HFM Investment Advisors LLC boosted its holdings in shares of Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 532 shares during the period. Institutional investors own 70.71% of the company’s stock.

Insider Activity at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods boosted their price objective on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Argus boosted their price objective on Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Robert W. Baird boosted their price objective on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, Truist Financial boosted their price objective on Bank of America from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America Trading Down 0.0%

Shares of BAC stock opened at $52.46 on Thursday. 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 market cap of $372.27 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. The stock has a 50 day simple moving average of $51.40 and a 200 day simple moving average of $52.28. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55.

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 business 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 earnings per share. On average, research analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America’s payout ratio is 27.72%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America said it will hire nearly 4,000 summer interns and campus recruits this year, signaling continued investment in talent even as AI changes the labor market. BofA to Welcome Nearly 4,000 Summer Interns and Campus Recruits
• Positive Sentiment: The bank partnered with FIFA and Vet Tix to provide $2.25 million in free World Cup tickets to veterans, military members, first responders and their families, supporting its consumer-facing brand and community profile. Bank of America and FIFA partner with Vet Tix to Offer Thousands of Free FIFA World Cup 2026 Tickets
• Positive Sentiment: Analysts highlighted Bank of America’s large deposit base as a strength, saying its low-cost funding supports net interest income and earnings growth across rate cycles. Does Bank of America’s Deposit Franchise Power Earnings Growth?
• Neutral Sentiment: CEO Brian Moynihan discussed consumer spending, affordability, lending and AI investment, reinforcing the bank’s focus on growth but offering no immediate catalyst by itself. BofA CEO Moynihan on Affordability, Lending and AI Spending
• Neutral Sentiment: Bank of America disclosed that it exited a substantial stake in Dyno Nobel, a routine portfolio adjustment that is not clearly tied to BAC’s core banking outlook. Bank of America exits substantial stake in Dyno Nobel

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.