Bank of America Corporation $BAC Shares Purchased by Bollard Group LLC

Bollard Group LLC lifted its position in Bank of America Corporation (NYSE:BAC) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,945 shares of the financial services provider’s stock after acquiring an additional 19,665 shares during the quarter. Bollard Group LLC’s holdings in Bank of America were worth $9,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abound Financial LLC bought a new position in Bank of America in the fourth quarter worth about $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter valued at approximately $27,000. Legacy Bridge LLC raised its position in shares of Bank of America by 182.3% during the 4th 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. CrossGen Wealth LLC bought a new stake in shares of Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America during the 4th quarter valued at approximately $32,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their target price on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. Robert W. Baird upped their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Bank of America from $57.50 to $62.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Trading Up 1.2%

Shares of NYSE:BAC opened at $62.00 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $439.96 billion, a PE ratio of 14.22, a P/E/G ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.28. The firm has a fifty day moving average price of $56.42 and a 200 day moving average price of $53.36.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts expect that Bank of America Corporation will post 4.65 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio is currently 25.69%.

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.