Delta Capital Management LLC reduced its stake in Bank of America Corporation (NYSE:BAC) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,180 shares of the financial services provider’s stock after selling 12,230 shares during the period. Bank of America makes up about 1.4% of Delta Capital Management LLC’s holdings, making the stock its 9th largest holding. Delta Capital Management LLC’s holdings in Bank of America were worth $3,915,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Wiser Advisor Group LLC purchased a new stake in Bank of America during the 3rd quarter worth about $27,000. Steph & Co. grew its position in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Bank of America during the third quarter worth about $30,000. Collier Financial purchased a new stake in shares of Bank of America during the third quarter worth approximately $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bank of America during the third quarter worth approximately $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.
Bank of America Trading Up 0.5%
Shares of Bank of America stock opened at $47.20 on Tuesday. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The stock has a market cap of $337.26 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $50.91 and a 200-day simple moving average of $52.26.
Bank of America Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Morgan Stanley dropped their target price on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $59.67.
Get Our Latest Analysis on BAC
Insiders Place Their Bets
In other Bank of America 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 over the last quarter. Company insiders own 0.30% of the company’s stock.
More Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Sector momentum: Financial stocks are broadly advancing this morning, which tends to lift large-cap banks like BAC as investors rotate into financials. Sector Update: Financial Stocks Advance Premarket Monday
- Positive Sentiment: “Big bank” safe-haven narrative: Coverage arguing the major banks are safer than private-credit funds has supported demand for systemically important banks, benefiting BAC relative to smaller credit providers. Private-credit crisis or growing pains? Why the ‘Big Six’ banks are a safer bet.
- Neutral Sentiment: BofA research product highlights AI winners — underscores the firm’s visible research franchise but has no direct earnings impact on BAC. These stocks are ‘the place to be’ if you want serious AI growth, says BofA
- Neutral Sentiment: BofA initiated coverage on ProPetro with a Buy — positive for BofA’s institutional-fee generation and research visibility, but indirect for BAC equity moves. ProPetro awarded ‘Buy’ rating in initial coverage from Bank of America
- Negative Sentiment: Legal hit: Reports say BAC will pay about $72.5M to settle a lawsuit by victims of Jeffrey Epstein — a direct expense and reputational headwind that can pressure the stock. Bank of America to pay $72.5M to settle lawsuit by Epstein victims
- Negative Sentiment: Security/reputation risk: French authorities opened a terror probe after a failed attack near BAC’s Paris HQ — an operational/reputational risk that can add short-term uncertainty. France Opens Terror Probe After Failed Attack at Bank of America’s Paris HQ
- Negative Sentiment: Analyst and market caution: Oppenheimer trimmed BAC’s price target, and a BofA technical analyst warned Q2 may be challenging for equities — both increase downside risk and could limit upside. Oppenheimer Cuts Bank of America (NYSE:BAC) Price Target to $58.00 Bank of America has blunt message on stocks and bonds for Q2
- Negative Sentiment: Geopolitical risk: Middle East strikes and escalation concerns are raising market volatility broadly — a headwind for banks’ trading and loan books. Iran Strikes Spread as US Troop Buildup Spurs Escalation Concern
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.
See Also
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