Capital Management Associates NY Buys Shares of 16,000 Bank of America Corporation $BAC

Capital Management Associates NY bought a new stake in Bank of America Corporation (NYSE:BAC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,000 shares of the financial services provider’s stock, valued at approximately $880,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Vanguard Group Inc. grew its holdings in shares of Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the last quarter. Capital World Investors grew its holdings in shares of Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Bank of America by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after purchasing an additional 1,105,833 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Bank of America by 3.4% during the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America received a consensus “Moderate Buy” rating from brokerages, signaling that analysts remain broadly constructive on BAC despite recent market uncertainty. Bank of America Corporation (NYSE:BAC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages
• Positive Sentiment: Major U.S. banks, including peers of Bank of America, cleared the Fed and FDIC review of their living wills, reducing regulatory overhang and supporting confidence in the banking sector. JPM, WFC & Others Clear Key Regulatory Hurdle on Living Wills
• Neutral Sentiment: One commentary piece highlighted Bank of America’s progress as a digital banking leader, but also said the stock still looks pricey/cautious from a valuation perspective, creating a mixed takeaway rather than a clear bullish catalyst. Bank of America (BAC) Has Become a Digital Leader. I’m Still Cautious on the Stock
• Neutral Sentiment: Broader market commentary about high bond yields, AI stock concentration, and a possible bubble environment could add some caution for financial stocks, but it is not a direct Bank of America-specific negative. Bond Strategists Warn Yields to Stay High Even If Iran War Ends
• Negative Sentiment: Bank of America’s contrarian market warning about extreme AI-stock concentration suggests the firm is signaling caution on risk appetite, which could weigh on sentiment if investors interpret it as a bearish market call. Bank of America Issues Rare Contrarian Sell Warning as AI Stock Concentration Soars

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BAC. Robert W. Baird boosted their price target on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. HSBC boosted their price target on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Truist Financial boosted their price target on Bank of America from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.06.

Insider Transactions at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated Thursday, March 5th. The stock was 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 owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 354,588 shares of company stock worth $17,814,296. Insiders own 0.27% of the company’s stock.

Bank of America Price Performance

Shares of BAC opened at $51.81 on Tuesday. The stock has a market cap of $367.64 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.88 and a beta of 1.21. The business’s fifty day moving average is $50.75 and its 200 day moving average is $52.36. Bank of America Corporation has a 12-month low of $42.35 and a 12-month high of $57.55. 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 (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. Sell-side analysts anticipate that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s dividend payout ratio (DPR) is 27.72%.

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.