Marble Wealth LLC Acquires New Holdings in Bank of America Corporation $BAC

Marble Wealth LLC acquired a new stake in Bank of America Corporation (NYSE:BAC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 41,985 shares of the financial services provider’s stock, valued at approximately $2,309,000.

A number of other large investors have also recently added to or reduced their stakes in the business. DecisionMap Wealth Management LLC grew its stake in Bank of America by 4.7% in the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 182 shares during the last quarter. Money Concepts Capital Corp boosted its stake in shares of Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 182 shares during the last quarter. Holistic Financial Partners boosted its stake in shares of Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 183 shares during the last quarter. Operose Advisors LLC boosted its stake in shares of Bank of America by 0.9% during the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its stake in shares of Bank of America by 1.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 187 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Thomas M. Scrivener sold 50,000 shares of the firm’s 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 sale, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 270,756 shares of company stock valued at $13,622,696. Insiders own 0.27% of the company’s stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Investors are being reminded of Bank of America’s strong deposit franchise, a key structural advantage that can support net interest income and long-term earnings stability. Bank of America’s Deposit Franchise Is the Hidden Asset Investors Keep Missing
• Positive Sentiment: A Seeking Alpha piece frames BAC as an attractive banking name for capital deployment, reinforcing the view that the stock still offers value for investors seeking exposure to a large, profitable lender. Bank of America: Let The Capital Flow To Your Portfolio With This Banking Powerhouse
• Neutral Sentiment: A note about Bank of America’s latest analyst update said the price target was left unchanged, which suggests a wait-and-see stance rather than a major shift in the investment case. How A Flat Price Target Is Shaping The Story For Bank Of America (BAC)
• Neutral Sentiment: One reported item says former Epstein banker Paul Morris left Bank of America’s Merrill unit, but the article does not indicate a material business impact on BAC. Former Epstein banker Paul Morris leaves Bank of America’s Merrill unit – report
• Negative Sentiment: Broader market coverage shows Wall Street analysts growing more skeptical after the recent rally, which could temper enthusiasm for financial stocks like BAC if sentiment rotates away from stretched valuations. Wall Street Analysts Turn Skeptical After Two-Month Stocks Rally

Bank of America Price Performance

BAC opened at $52.50 on Wednesday. The company’s 50 day simple moving average is $51.20 and its 200 day simple moving average is $52.30. 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 Corporation has a 1 year low of $43.66 and a 1 year high of $57.55. The stock has a market capitalization of $372.55 billion, a PE ratio of 12.99, a P/E/G ratio of 0.87 and a beta of 1.18.

Bank of America (NYSE:BAC) last released its earnings results 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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Analyst Ratings Changes

BAC has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley decreased their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Daiwa Securities Group raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Oppenheimer raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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.