Y Intercept Hong Kong Ltd Takes $22.80 Million Position in Bank of America Corporation $BAC

Y Intercept Hong Kong Ltd purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 414,488 shares of the financial services provider’s stock, valued at approximately $22,797,000. Bank of America accounts for about 0.5% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after purchasing an additional 1,603,080 shares during the period. Mufg Securities Americas Inc. raised its holdings in Bank of America by 26.6% in the 3rd quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock worth $10,262,000 after purchasing an additional 41,809 shares during the period. B. Metzler seel. Sohn & Co. AG raised its holdings in Bank of America by 11.2% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock worth $34,974,000 after purchasing an additional 68,093 shares during the period. Constant Guidance Financial LLC raised its holdings in Bank of America by 603.4% in the 3rd quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider’s stock worth $1,253,000 after purchasing an additional 20,831 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Bank of America in the 3rd quarter worth $27,629,000. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BAC shares. Piper Sandler raised their target price on Bank of America from $53.00 to $59.00 and gave the stock 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 stock a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. cut their price target on Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird increased their price target on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Oppenheimer increased their price target on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Bank of America Trading Up 1.5%

Shares of BAC stock opened at $55.96 on Friday. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. 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 firm has a market capitalization of $397.15 billion, a PE ratio of 13.85, a PEG ratio of 0.93 and a beta of 1.18. The stock has a fifty day simple moving average of $52.29 and a two-hundred day simple moving average of $52.41.

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, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Bank of America’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that Bank of America Corporation will post 4.45 EPS 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 given a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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.