WASHINGTON TRUST Co Boosts Stake in Bank of America Corporation $BAC

WASHINGTON TRUST Co raised its holdings in Bank of America Corporation (NYSE:BAC) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,841 shares of the financial services provider’s stock after buying an additional 15,745 shares during the period. WASHINGTON TRUST Co’s holdings in Bank of America were worth $15,171,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC grew its position in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 6,174 shares during the last quarter. Jump Financial LLC grew its position in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 18,227 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Bank of America during the second quarter worth about $1,396,000. Finally, Vivaldi Capital Management LP raised its holdings in Bank of America by 4.2% during the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 355 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The shares were 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 $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 354,588 shares of company stock valued at $17,814,296. Corporate insiders own 0.27% of the company’s stock.

Bank of America Price Performance

NYSE BAC opened at $51.56 on Friday. The stock has a market capitalization of $365.91 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.86 and a beta of 1.21. Bank of America Corporation has a 1 year low of $43.36 and a 1 year high of $57.55. The business’s fifty day moving average is $51.11 and its two-hundred day moving average is $52.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. On average, research analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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 is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. Bank of America’s dividend payout ratio is currently 27.72%.

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?

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BAC shares. Erste Group Bank cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Robert W. Baird upped 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. Jefferies Financial Group upped their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Daiwa Securities Group increased their target price on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Autonomous Res reduced their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $61.06.

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.