Bank of America Corporation $BAC Shares Acquired by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC increased its stake in Bank of America Corporation (NYSE:BAC) by 130.0% during the 4th quarter, Holdings Channel reports. The fund owned 33,902 shares of the financial services provider’s stock after purchasing an additional 19,165 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Bank of America were worth $1,865,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares during the last quarter. Capital World Investors grew its holdings in shares of 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 purchasing an additional 14,275,810 shares during the last quarter. Norges Bank purchased a new position in shares of Bank of America during the fourth quarter worth about $4,774,210,000. Bank of New York Mellon Corp grew its holdings in shares of Bank of America by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Bank of America by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for Bank of America to $5.10 from $5.08, reinforcing the view that earnings can continue to grow even though the firm still rates BAC a Hold. Article Title
• Positive Sentiment: Bank of America said its markets revenue could exceed 15% growth in Q2, helped by stronger equities trading, which points to solid near-term performance in the trading business. Article Title
• Positive Sentiment: Management also highlighted growing demand for AI-led treasury, FX, and payments solutions in Asia Pacific, suggesting continued momentum in fee-based and transaction services. Article Title
• Positive Sentiment: Bank of America launched new credit-card features, including Custom Pay Plan, Refer-a-Friend, and expanded credit monitoring, which could support card engagement and customer retention. Article Title
• Neutral Sentiment: The Justice Department reportedly subpoenaed Bank of America as part of a broader “debanking” probe into account closures, creating legal and reputational uncertainty, but no formal wrongdoing has been alleged. Article Title
• Neutral Sentiment: Separate reports about BofA’s broad market-warning signals and calls for profit-taking reflect the firm’s cautious macro outlook, but these are more about sentiment than BAC’s own fundamentals. Article Title

Bank of America Stock Up 0.3%

Shares of NYSE BAC opened at $54.59 on Thursday. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. The firm has a fifty day moving average of $52.03 and a 200-day moving average of $52.36. The stock has a market capitalization of $387.39 billion, a PE ratio of 13.51, a P/E/G ratio of 0.92 and a beta of 1.18. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18.

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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.

Insiders Place Their Bets

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BAC. UBS Group lifted their price objective on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Evercore reduced their price target on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Morgan Stanley cut their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, Oppenheimer lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.06.

Bank of America 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.