QRG Capital Management Inc. increased its holdings in Bank of America Corporation (NYSE:BAC – Free Report) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 816,849 shares of the financial services provider’s stock after purchasing an additional 28,399 shares during the period. QRG Capital Management Inc.’s holdings in Bank of America were worth $44,927,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of BAC. Wiser Advisor Group LLC bought a new stake in Bank of America in the third quarter worth $27,000. Legacy Bridge LLC boosted its holdings in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Bank of America in the third quarter worth $30,000. Collier Financial bought a new stake in Bank of America in the third quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Bank of America in the third quarter worth $31,000. 70.71% of the stock is currently owned by institutional investors.
Key Bank of America News
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America strategist Michael Hartnett argues the U.S. is in a nominal “boom loop,” forecasting stronger GDP growth — a macro backdrop that would support loan growth, fee income and credit performance for large banks like BAC. Bank of America drops stunning take on the economy
- Positive Sentiment: BofA research notes U.S. midterms could push the Administration toward less aggressive tariffs — a reduction in trade friction would be constructive for corporate profits and markets, indirectly supportive of BAC’s trading and corporate banking franchise. The midterms could lead to less aggressive tariffs, BofA says
- Positive Sentiment: BofA’s investment-banking platform is active: Teva will present at the BofA Securities Health Care Conference, reflecting dealflow and event-based fee opportunities for the bank. Teva to Present at the BofA Securities Health Care Conference
- Neutral Sentiment: BAC recently reaffirmed its 2025 risk profile with no material changes disclosed — a sign of stability but not a catalyst. Bank of America Reaffirms 2025 Risk Profile
- Neutral Sentiment: UBS/Bloomberg market commentary highlights two‑sided tail risks (AI-led rallies vs. energy-driven drag) — relevant market context but not bank-specific. Traders Grapple With Two-Sided Tail Risk as Stocks Regain Highs
- Neutral Sentiment: Regulatory disclosure from Belgium: Bank of America’s direct voting interest in Umicore fell just below the 3% threshold — a routine portfolio disclosure with limited impact on BAC itself. Umicore – Transparency notification by Bank of America Corporation
- Negative Sentiment: Treasury Secretary Bessent warns of AI-powered bank account hacks — rising cyberthreat concerns could mean higher security spending and operational risk for banks, a potential negative catalyst. Bessent Warns of Threat of AI-Powered Bank Account Hacks
- Negative Sentiment: Chicago Fed’s Austan Goolsbee called recent inflation data “bad news” and urged caution on cuts — the risk of a later-than-expected easing cycle increases macro uncertainty and can weigh on bank trading revenue and investor sentiment. Fed’s Goolsbee labels recent inflation data “bad news,” urges caution
Bank of America Stock Down 1.9%
Bank of America (NYSE:BAC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts anticipate that Bank of America Corporation will post 4.46 earnings per share for the current year.
Bank of America Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.
Insiders Place Their Bets
In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by company insiders.
Analyst Ratings Changes
BAC has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Robert W. Baird upped 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, April 16th. UBS Group decreased their price target on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Finally, Jefferies Financial Group upped their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.02.
View Our Latest Stock Report on Bank of America
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.
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