Caxton Associates LLP Makes New $1.25 Million Investment in Bank of America Corporation $BAC

Caxton Associates LLP purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 1st quarter, HoldingsChannel reports. The fund purchased 25,712 shares of the financial services provider’s stock, valued at approximately $1,253,000.

A number of other institutional investors have also modified their holdings of the company. Abound Financial LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the third quarter worth $27,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. CrossGen Wealth LLC purchased a new stake in shares of Bank of America during the 4th quarter valued at $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America during the 4th quarter valued at $32,000. 70.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The stock was 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 owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Bank of America Price Performance

NYSE BAC opened at $62.00 on Friday. The company has a market cap of $439.96 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The stock’s fifty day moving average price is $56.42 and its 200 day moving average price is $53.36. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.28.

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

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BAC shares. Citigroup boosted their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group increased their price target on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Argus set a $70.00 price target on Bank of America in a report on Wednesday, July 15th. Truist Financial boosted their price target on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, Piper Sandler upped their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $63.77.

Key Stories Impacting 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 Company 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.