Bank of America Corporation $BAC Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,668 shares of the financial services provider’s stock after acquiring an additional 45,014 shares during the quarter. Merit Financial Group LLC’s holdings in Bank of America were worth $13,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BAC. Capital World Investors boosted its holdings in Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after buying an additional 14,275,810 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Bank of America by 2.5% during the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock worth $2,717,657,000 after buying an additional 1,272,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Legal & General Group Plc boosted its holdings in Bank of America by 3.4% during the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider’s stock worth $2,266,045,000 after buying an additional 1,458,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Bank of America by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider’s stock worth $1,581,350,000 after buying an additional 640,462 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.8%

Shares of NYSE BAC opened at $53.92 on Friday. Bank of America Corporation has a 12-month low of $36.49 and a 12-month high of $57.55. The company has a market capitalization of $385.31 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s 50-day moving average is $50.45 and its two-hundred day moving average is $52.25.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America’s dividend payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research analyst reports. Autonomous Res decreased their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. 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 report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group decreased their price objective on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.90.

Trending Headlines about Bank of America

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.