New Mexico Educational Retirement Board Acquires 17,200 Shares of Bank of America Corporation $BAC

New Mexico Educational Retirement Board increased its holdings in Bank of America Corporation (NYSE:BAC) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 313,254 shares of the financial services provider’s stock after buying an additional 17,200 shares during the period. Bank of America accounts for 0.5% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 22nd biggest position. New Mexico Educational Retirement Board’s holdings in Bank of America were worth $17,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BAC. Norges Bank bought a new position in Bank of America in the 4th quarter worth approximately $4,774,210,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Bank of America by 640.5% in the 3rd 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 buying an additional 40,235,201 shares during the period. Vanguard Group Inc. boosted its holdings in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after buying an additional 23,351,183 shares during the period. Capital World Investors boosted its holdings in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares during the period. Finally, American Assets Investment Management LLC boosted its holdings in Bank of America by 1,248.5% in the 4th quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider’s stock worth $837,338,000 after buying an additional 14,095,375 shares during the period. 70.71% of the stock is owned by institutional investors.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction 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 completion of the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 354,588 shares of company stock valued at $17,814,296. 0.27% of the stock is currently owned by insiders.

Bank of America Stock Down 0.1%

Shares of NYSE:BAC opened at $51.56 on Monday. The firm has a fifty day moving average price of $51.11 and a two-hundred day moving average price of $52.31. 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 one year low of $43.36 and a one year high of $57.55. The company has a market cap of $365.91 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.87 and a beta of 1.19.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. HSBC raised their price objective on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group raised their price objective on shares of Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Robert W. Baird raised their price target on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.06.

More Bank of America News

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

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.