Teacher Retirement System of Texas Raises Position in Bank of America Corporation $BAC

Teacher Retirement System of Texas raised its holdings in Bank of America Corporation (NYSE:BAC) by 31.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,604,848 shares of the financial services provider’s stock after acquiring an additional 623,044 shares during the quarter. Bank of America comprises approximately 0.5% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 24th largest holding. Teacher Retirement System of Texas’ holdings in Bank of America were worth $143,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BAC. Brighton Jones LLC raised its holdings in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 6,174 shares in the last quarter. Jump Financial LLC raised its stake in Bank of America by 38.4% during the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after acquiring an additional 18,227 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Bank of America during the 2nd quarter worth $1,396,000. Finally, Vivaldi Capital Management LP grew its position in Bank of America by 4.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 355 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Evercore raised their price objective on shares of Bank of America from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. UBS Group decreased their price objective on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Autonomous Res cut their target price on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Finally, Barclays lifted their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.90.

Bank of America Price Performance

BAC opened at $53.08 on Thursday. 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 52-week low of $38.60 and a 52-week high of $57.55. The company has a 50 day moving average of $50.34 and a two-hundred day moving average of $52.32. The company has a market cap of $379.28 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.91 and a beta of 1.23.

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, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during 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 in the previous year, the firm earned $0.90 earnings per share. On average, analysts expect that Bank of America Corporation will post 4.44 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is 27.72%.

Key Bank of America News

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

• Positive Sentiment: Jefferies reiterated a Buy on BAC and raised its price target to $65 after the bank’s strong Q1 results, reinforcing upside expectations tied to beat?and?raise fundamentals and higher net interest income. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
• Positive Sentiment: Analysts and coverage pieces highlight BAC’s AI and “phygital” strategy as a driver of margin expansion through cost cuts, smarter branch deployment and new revenue opportunities — a structural positive for medium?term profitability. BAC’s AI Edge Likely to Drive Margin Expansion: Should You Invest Now?
• Positive Sentiment: Sector momentum from strong Q1 prints across large banks gave financial stocks a lift, supporting BAC’s fundamentals and investor thesis that the group is recovering. Big Bank Earnings Gave Financials a Lift, But Wall Street Is Still Cautious (BAC)
• Neutral Sentiment: Bank of America Securities remains highly active with analyst coverage and rating changes across many companies (Buys, Holds, Sells). That visibility supports fee generation and market influence but does not immediately change BAC’s own operating results. AI-Driven Growth and Robust Issuance Support Buy Rating on Moody’s
• Neutral Sentiment: Regulatory/ownership filing: BAC disclosed a change in its equivalent financial instruments in Umicore (holding reported at 3.32%), a routine transparency notification that is unlikely to move BAC’s share price materially. Umicore – Transparency notification by Bank of America Corporation
• Negative Sentiment: Bank of America’s own research flagged continued rotation and outflows from U.S. equities into international markets, a trend that can weigh on large, domestically?exposed names and pressure BAC’s stock in the near term. Are investors turning bearish on US stocks? BofA flags outflows
• Negative Sentiment: A critical comparison piece and other market narratives circulating about BAC versus smaller peers add to headline noise and can amplify short?term selling pressure even when fundamentals are solid. Global Capital Partners (OTCMKTS:GCPL) versus Bank of America (NYSE:BAC) Critical Review

Insider Activity

In other Bank of America news, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares of the company’s stock, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by company 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.