Vantus Wealth LLC Purchases Shares of 12,166 Bank of America Corporation $BAC

Vantus Wealth LLC purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) during the fourth quarter, HoldingsChannel reports. The fund purchased 12,166 shares of the financial services provider’s stock, valued at approximately $669,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Handelsbanken Fonder AB grew its position in Bank of America by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after acquiring an additional 1,603,080 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of Bank of America by 54.6% during the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 20,591 shares during the period. AdvisorShares Investments LLC purchased a new stake in shares of Bank of America in the third quarter valued at approximately $482,000. Mufg Securities Americas Inc. boosted its holdings in shares of Bank of America by 26.6% in the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after purchasing an additional 41,809 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Bank of America by 11.2% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock valued at $34,974,000 after purchasing an additional 68,093 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

Shares of BAC stock opened at $51.48 on Tuesday. The business’s fifty day simple moving average is $51.20 and its 200-day simple moving average is $52.30. The company has a market cap of $365.36 billion, a PE ratio of 12.74, a PEG ratio of 0.87 and a beta of 1.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 12-month low of $43.36 and a 12-month high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The business 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. Analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. 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 presently 27.72%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts and commentators continue to highlight Bank of America’s earnings power, with recent pieces pointing to its strong deposit franchise, attractive valuation, and resilient near-term outlook. Bank of America’s Deposit Franchise Is the Hidden Asset Investors Keep Missing
• Positive Sentiment: Reuters-referenced reports say BAC expects second-quarter trading revenue to rise about 15% year over year, helped by elevated market volatility and stronger trading activity, which could lift results. Bank of America (BAC) Expects Q2 Trading Revenue to Jump 15%, Reuters Reports
• Positive Sentiment: Another recent note said Bank of America’s CEO sounded constructive on the near-term outlook, including better full-year net interest income trends, reinforcing confidence in the bank’s core business. Is Bank of America (BAC) the Best Undervalued Financial Stock to Buy Now?
• Neutral Sentiment: Several items focused on Bank of America Securities research in unrelated markets such as Indian IT, Amazon’s satellite internet plans, and Nvidia’s AI platform; these reinforce BAC’s broader market intelligence franchise but are unlikely to move the stock on their own. AI will expand opportunities for Indian IT; luxury housing demand remains strong: BofA Securities
• Neutral Sentiment: Coverage saying Bank of America kept a neutral view on AST SpaceMobile was about another company and does not materially affect BAC’s fundamentals. Bank of America and New Street Research Maintain Neutral Stance on AST SpaceMobile (ASTS) Amid Launch Delays
• Neutral Sentiment: Articles on BofA-hosted investor forums in Asia and quant markets indicate active client engagement and asset-management relationships, but they are not direct stock catalysts. BofA Securities Asia Forum Gathers Global Investors Amid Surge in Hedge Funds Allocations

Insiders Place Their Bets

In other news, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAC. Robert W. Baird boosted their price objective 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. HSBC boosted their price objective on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Morgan Stanley reduced their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Finally, Evercore reduced their price objective 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 analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.06.

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.