Guardian Wealth Advisors LLC NC Sells 9,819 Shares of Bank of America Corporation $BAC

Guardian Wealth Advisors LLC NC cut its holdings in Bank of America Corporation (NYSE:BAC) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,681 shares of the financial services provider’s stock after selling 9,819 shares during the quarter. Guardian Wealth Advisors LLC NC’s holdings in Bank of America were worth $2,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAC. Norges Bank bought a new position in Bank of America in the 4th quarter valued at approximately $4,774,210,000. Capital International Investors bought a new position in Bank of America in the 4th quarter valued at approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 valued at $2,399,798,000 after acquiring an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. lifted its position 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 valued at $35,809,225,000 after acquiring an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. lifted its position in Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after acquiring an additional 22,621,546 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Shares of BAC opened at $56.79 on Wednesday. The firm has a market cap of $402.99 billion, a PE ratio of 14.06, a P/E/G ratio of 0.95 and a beta of 1.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $52.57 and a two-hundred day simple moving average of $52.47. Bank of America Corporation has a 1-year low of $44.06 and a 1-year high of $57.55.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm 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 revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. On average, equities analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.

Analyst Upgrades and Downgrades

BAC has been the topic of several analyst reports. Morgan Stanley lowered their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Jefferies Financial Group boosted their target price on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Piper Sandler boosted their target price on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Evercore decreased their target price on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

Key Bank of America News

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

• Positive Sentiment: Bank of America CEO Brian Moynihan said consumers are still spending on discretionary items despite inflation and affordability concerns, suggesting BAC’s customer base remains resilient and supporting a constructive outlook for card, deposit, and lending activity. Bank of America CEO Says Consumers Keep Spending Despite Affordability Concerns
• Positive Sentiment: Bank of America is expanding its “Scaminars” fraud-prevention campaign and using AI-powered detection tools, which could help reduce losses, protect clients, and strengthen the bank’s reputation with retail customers. Bank of America to Host Thousands of “Scaminars” to Help Protect Clients and Fight Fraud
• Positive Sentiment: Bank of America noted that Meta’s new AI search tools could create a larger monetization opportunity, highlighting BAC’s research influence and its bullish view on AI-driven growth themes. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Neutral Sentiment: Bank of America maintained a Hold rating on PDD Holdings, citing softer-than-expected results; this is not directly about BAC, but it reflects ongoing analyst discipline across the firm’s coverage. Bank of America Securities Maintains Hold Rating on PDD Holdings (PDD) Stock
• Neutral Sentiment: Bank of America’s market commentary showing AI stock enthusiasm is still in the “boom phase” may support risk appetite in equities, but it is more of a market sentiment signal than a direct BAC-specific catalyst. AI Stock Rally Is in Boom Phase Not Euphoria, BofA Survey Shows
• Neutral Sentiment: Bank of America renewed its partnership with the Kansas City Current, a positive branding and community item, but it is unlikely to materially affect earnings or the stock near term. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Neutral Sentiment: Bank of America slightly reduced a derivative-based stake in CA Immobilien Anlagen, a routine disclosure that does not appear significant for BAC’s fundamentals. Bank of America slightly trims derivative-based stake in CA Immobilien Anlagen

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.