Bank of America Corporation $BAC Shares Bought by Crake Asset Management LLP

Crake Asset Management LLP lifted its position in Bank of America Corporation (NYSE:BAC) by 14.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,254,061 shares of the financial services provider’s stock after acquiring an additional 154,061 shares during the period. Bank of America makes up 2.7% of Crake Asset Management LLP’s investment portfolio, making the stock its 8th largest position. Crake Asset Management LLP’s holdings in Bank of America were worth $68,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BAC. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter worth approximately $27,000. Legacy Bridge LLC grew its position in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Collier Financial acquired a new position in shares of Bank of America in the 3rd quarter worth approximately $30,000. Joseph Group Capital Management acquired a new position in shares of Bank of America in the 4th quarter worth approximately $32,000. Finally, HFM Investment Advisors LLC grew its position in shares of Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 532 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other news, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction 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 sale, the insider owned 307,240 shares of the company’s stock, valued at approximately $15,362,000. The trade was a 21.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on 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 $72,803,774.97. This represents a 8.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,588 shares of company stock worth $17,814,296 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Bank of America Stock Up 1.6%

Shares of Bank of America stock opened at $51.56 on Friday. The business’s fifty day moving average price is $51.11 and its two-hundred day moving average price is $52.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $365.91 billion, a P/E ratio of 12.76, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 1-year low of $43.36 and a 1-year high of $57.55.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, research analysts forecast that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

Bank of America News Summary

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Analyst Ratings Changes

A number of research analysts recently issued reports on BAC shares. Erste Group Bank lowered Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Oppenheimer boosted their price objective on Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Jefferies Financial Group boosted their price objective on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Robert W. Baird boosted their price objective on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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.