Robinhood Asset Management LLC Invests $8.42 Million in Bank of America Corporation $BAC

Robinhood Asset Management LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 153,059 shares of the financial services provider’s stock, valued at approximately $8,418,000. Bank of America accounts for 0.7% of Robinhood Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 6,174 shares in the last quarter. Jump Financial LLC increased its holdings in Bank of America by 38.4% during the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after acquiring an additional 18,227 shares during the period. Cary Street Partners Financial LLC lifted its stake in Bank of America by 24.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 146,781 shares of the financial services provider’s stock worth $6,946,000 after purchasing an additional 28,413 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Bank of America by 4.2% in the 2nd quarter. Baker Avenue Asset Management LP now owns 66,793 shares of the financial services provider’s stock valued at $3,161,000 after purchasing an additional 2,671 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of Bank of America stock opened at $50.07 on Tuesday. The firm has a market capitalization of $357.75 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The business’s 50-day moving average price is $50.64 and its 200-day moving average price is $52.20.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the previous year, the company posted $0.82 EPS. Bank of America’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is 29.24%.

Insider Activity at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,832 shares of company stock valued at $11,094,960. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAC. Daiwa Securities Group lowered their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Oppenheimer decreased their target price on Bank of America from $63.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, March 27th. Royal Bank Of Canada raised their price target on Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Evercore cut their price objective on Bank of America from $59.00 to $55.00 and set an “outperform” rating for the company in a report on Monday. Finally, Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Bank of America News Roundup

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

• Positive Sentiment: Goldman Sachs raised its price target on BAC to $58 and maintained a Buy, reinforcing buy-side momentum and supporting near-term upside expectations. Goldman Sachs raises PT to $58
• Positive Sentiment: Market coverage notes BAC outpaced broader market gains in the latest session, reflecting improving short-term momentum and investor interest ahead of earnings. BAC outpaces market gains
• Positive Sentiment: Analyst consensus remains constructive (average rating around “Moderate Buy”), highlighting BAC’s earnings record, capital returns and valuation versus fundamentals. Average analyst rating Moderate Buy
• Neutral Sentiment: BofA Securities says BAC looks strong heading into Q1 results (expected Apr. 15) thanks to still-resilient net interest income, but warns the rate tailwind may be fading — a mixed signal for near-term earnings upside. BAC looks strong ahead of Q1; rate tailwind fading
• Neutral Sentiment: Bank analysts expect major U.S. banks to deliver broadly in-line to slightly better Q1 results, which could support BAC if results meet expectations but limit large upside surprises. US banks set to deliver solid Q1 results
• Neutral Sentiment: BofA research commentary on macro risks (India-focused pieces and stagflation warnings) underscores the firm’s cautious macro view — relevant for investor risk appetite though not specific to BAC’s operations. BofA lists resilient stocks amid geopolitical risk
• Negative Sentiment: Autonomous Research trimmed its BAC price target to $54 from $62 (neutral rating maintained), reflecting more conservative upside expectations and creating downward pressure on sentiment. Autonomous lowers PT to $54
• Negative Sentiment: Evercore cut its price target to $55 from $59 (still an Outperform), a modest downgrade that trims upside and signals some analyst caution ahead of results. Evercore lowers PT to $55

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.