Milford Funds Ltd. Acquires Shares of 4,158,897 Bank of America Corporation $BAC

Milford Funds Ltd. acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,158,897 shares of the financial services provider’s stock, valued at approximately $228,739,000. Bank of America accounts for about 4.5% of Milford Funds Ltd.’s holdings, making the stock its 4th biggest position. Milford Funds Ltd. owned about 0.06% of Bank of America at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter valued at $27,000. Legacy Bridge LLC lifted its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares during the period. Joseph Group Capital Management purchased a new position in Bank of America during the fourth quarter valued at $32,000. HFM Investment Advisors LLC lifted its position in Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after buying an additional 532 shares during the period. Finally, Coston McIsaac & Partners increased its holdings in shares of Bank of America by 90.2% during the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BAC shares. Jefferies Financial Group lifted their price target on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Erste Group Bank lowered Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Robert W. Baird lifted their price target on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Evercore lowered their price target on 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. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $61.06.

Bank of America Price Performance

NYSE BAC opened at $55.96 on Friday. Bank of America Corporation has a one year low of $43.66 and a one year high of $57.55. The stock has a 50-day moving average of $52.29 and a 200 day moving average of $52.41. The company has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.93 and a beta of 1.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping 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 company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period last year, the company earned $0.90 EPS. Bank of America’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

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.