GC Wealth Management RIA LLC Purchases 20,384 Shares of Bank of America Corporation $BAC

GC Wealth Management RIA LLC increased its position in shares of Bank of America Corporation (NYSE:BAC) by 17.4% during the 1st quarter, Holdings Channel reports. The firm owned 137,644 shares of the financial services provider’s stock after purchasing an additional 20,384 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Bank of America were worth $6,710,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new position in shares of Bank of America during the 4th quarter worth approximately $26,000. Legacy Bridge LLC grew its holdings in shares of Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new position in shares of Bank of America in the third quarter valued at approximately $27,000. CrossGen Wealth LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America during the fourth quarter worth $32,000. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Bank of America stock opened at $61.30 on Friday. The business’s 50 day simple moving average is $56.17 and its 200 day simple moving average is $53.29. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.12. The company has a market cap of $435.02 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.99 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAC. Barclays boosted their price objective on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Finally, Daiwa Securities Group increased their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction on 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 owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Key Bank of America News

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.