Resources Management Corp CT ADV Buys 111,717 Shares of Bank of America Corporation $BAC

Resources Management Corp CT ADV boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 4,943.2% during the fourth quarter, Holdings Channel reports. The fund owned 113,977 shares of the financial services provider’s stock after acquiring an additional 111,717 shares during the period. Resources Management Corp CT ADV’s holdings in Bank of America were worth $6,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Seven Mile Advisory lifted its position in Bank of America by 11.6% during the 4th quarter. Seven Mile Advisory now owns 21,896 shares of the financial services provider’s stock valued at $1,204,000 after purchasing an additional 2,279 shares during the period. MML Investors Services LLC lifted its position in Bank of America by 5.9% during the 4th quarter. MML Investors Services LLC now owns 894,859 shares of the financial services provider’s stock valued at $49,217,000 after purchasing an additional 50,215 shares during the period. Evernest Financial Advisors LLC lifted its position in Bank of America by 1.9% during the 4th quarter. Evernest Financial Advisors LLC now owns 20,274 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 385 shares during the period. Fieldview Capital Management LLC acquired a new position in Bank of America during the 4th quarter valued at about $723,000. Finally, Fort Point Capital Partners LLC lifted its position in Bank of America by 56.5% during the 4th quarter. Fort Point Capital Partners LLC now owns 11,405 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 4,116 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $55.96 on Monday. The company has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.95 and a beta of 1.19. The firm’s 50 day simple moving average is $52.29 and its 200 day simple moving average is $52.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a fifty-two week low of $43.66 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings results 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 net margin of 16.78% and a return on equity of 11.49%. Bank of America’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BAC. Autonomous Res cut their target price on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Daiwa Securities Group upped their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Argus upped their target price on shares of Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group upped their target price on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Oppenheimer upped their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.06.

Trending Headlines about 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

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’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 sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company 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.