29,823 Shares in Bank of America Corporation $BAC Purchased by Blue Jean Financial LLC

Blue Jean Financial LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the 4th quarter, Holdings Channel reports. The institutional investor bought 29,823 shares of the financial services provider’s stock, valued at approximately $1,640,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Legacy Bridge LLC increased its stake 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 valued at $28,000 after acquiring an additional 330 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the 3rd quarter valued at about $27,000. Joseph Group Capital Management purchased a new stake in shares of Bank of America during the 4th quarter worth about $32,000. HFM Investment Advisors LLC grew its holdings in shares of Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 532 shares during the period. Finally, Coston McIsaac & Partners grew its holdings in shares of Bank of America by 90.2% during the 4th quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC opened at $55.96 on Friday. The firm has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.95 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 Corporation has a one year low of $43.66 and a one year high of $57.55. The stock’s fifty day moving average is $52.29 and its 200-day moving average is $52.41.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Equities 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. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BAC shares. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Evercore reduced their target price on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Piper Sandler upped their price target on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Oppenheimer increased their target price on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, Daiwa Securities Group increased their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.06.

Bank of America News Roundup

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

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.