Healthcare of Ontario Pension Plan Trust Fund Has $575.15 Million Stock Holdings in Bank of America Corporation $BAC

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Bank of America Corporation (NYSE:BAC) by 63.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,797,936 shares of the financial services provider’s stock after acquiring an additional 4,570,349 shares during the period. Bank of America accounts for approximately 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 20th largest position. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bank of America were worth $575,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Abound Financial LLC acquired a new position in Bank of America during the fourth quarter valued at approximately $26,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America in the 4th quarter valued at approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAC. Daiwa Securities Group raised their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday. HSBC increased their price target on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.

Bank of America Stock Performance

Shares of NYSE BAC opened at $62.00 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $439.96 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.28. The stock has a 50 day moving average of $56.42 and a 200-day moving average of $53.36.

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 business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, equities research analysts predict that Bank of America Corporation will post 4.65 EPS for the current year.

Bank of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 25.69%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

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.