Dickmeyer Boyce Financial Management Inc. Invests $480,000 in Bank of America Corporation $BAC

Dickmeyer Boyce Financial Management Inc. bought a new stake in Bank of America Corporation (NYSE:BAC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,841 shares of the financial services provider’s stock, valued at approximately $480,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Money Concepts Capital Corp boosted its stake in Bank of America by 3.8% in the fourth 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 in the last quarter. Operose Advisors LLC raised its holdings in shares of Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 185 shares during the last quarter. Asahi Life Asset Management CO. LTD. raised its holdings in shares of Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 187 shares during the last quarter. GatePass Capital LLC lifted its position in Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after buying an additional 190 shares in the last quarter. Finally, GeoWealth Management LLC lifted its position in Bank of America by 0.3% during the 4th quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider’s stock worth $3,388,000 after buying an additional 191 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Bank of America Price Performance

BAC opened at $61.30 on Friday. The company has a fifty day moving average price of $56.17 and a two-hundred day moving average price of $53.29. The firm has a market capitalization of $435.02 billion, a PE ratio of 14.06, a P/E/G ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts anticipate that Bank of America Corporation will post 4.65 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BAC. Autonomous Res lowered their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. UBS Group raised their price target on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Piper Sandler boosted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Barclays upped their price target on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s own analysts said Alphabet’s post-earnings selloff looks like a buying opportunity, reinforcing BAC’s credibility as a market-moving research franchise and highlighting the firm’s influence in large-cap tech coverage. 4 Reasons to Buy Alphabet Stock After the CAPEX Shock: Bank of America
• Positive Sentiment: Bank of America extended the naming-rights deal for Bank of America Stadium with the Carolina Panthers, reinforcing a long-term brand partnership and its visibility in Charlotte and the Carolinas. Bank of America and Carolina Panthers Extend Naming Rights for Bank of America Stadium
• Positive Sentiment: The launch of new hybrid public-private investment funds by Wellington, Vanguard, and Blackstone through Merrill and Bank of America’s private bank could help drive more client assets and deepen wealth-management relationships. Global Market: Wellington, Vanguard, Blackstone launch hybrid public-private investment funds for wealthy clients
• Positive Sentiment: Bank of America’s preferred dividend confirmation and recent earnings backdrop underscore ongoing capital returns and support the valuation case for BAC shares. Bank of America (BAC) Preferred Dividend Update Keeps Valuation In Focus
• Neutral Sentiment: Several articles highlight BAC’s broader market influence, including comments on bank earnings, rate policy, and consumer health, but they do not appear to directly change Bank of America’s near-term earnings outlook. What Bank Earnings Just Revealed About the Health of the American Consumer
• Neutral Sentiment: Coverage of Bank of America’s consumer-service AI rollout and finance-leadership messaging is strategically positive, but likely a longer-term operational story rather than an immediate stock catalyst. Bank of America Equips Customer Service Reps With Gen AI
• Negative Sentiment: CEO commentary warning that inflation could force the Fed into a corner suggests a tougher macro backdrop, which could pressure loan demand, credit costs, and the banking sector broadly if rates stay restrictive. Bank of America CEO warns inflation will back Fed into a corner

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.