Wealth Enhancement Trust Services Inc. Acquires New Holdings in Bank of America Corporation $BAC

Wealth Enhancement Trust Services Inc. bought a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,360 shares of the financial services provider’s stock, valued at approximately $955,000.

Several other large investors have also recently bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after buying an additional 40,235,201 shares during the period. Capital World Investors increased its stake in Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after buying an additional 14,275,810 shares during the period. Danske Bank A S acquired a new position in Bank of America during the 3rd quarter valued at about $224,863,000. Capitolis Liquid Global Markets LLC increased its stake in Bank of America by 52.0% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock valued at $644,681,000 after buying an additional 4,273,472 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in Bank of America during the 3rd quarter valued at about $218,030,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last quarter. Insiders own 0.27% of the company’s stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Multiple brokerages raised or refreshed targets and ratings on BAC (several upward price-target notes published 4/19), supporting buying momentum after the bank’s recent Q1 beat. Bank of America Price Target Raised
• Positive Sentiment: BAC’s strong Q1 (EPS/revenue beat, revenue +10.7% YoY) remains the underlying fundamental driver cited by analysts and retail coverage as the reason to hold/increase exposure. Coverage summarizing Q1 outlook and next steps was published this week. What is next for Bank of America after Q1 earnings?
• Positive Sentiment: Bank of America declared dividends on several preferred issues — a sign of available capital and distribution policy for preferred holders, which can be read positively for balance-sheet stability. Preferred Dividend Declaration
• Neutral Sentiment: Bank of America Securities analysts published several Buy ratings on other large names (Meta, AppLovin, Seagate, Mastercard) today — this highlights BofA’s active research flow (revenue source and institutional franchise) but has only indirect impact on BAC’s shares. Meta Buy Rating (BofA) AppLovin Buy Rating (BofA) Seagate Buy Rating (BofA)
• Neutral Sentiment: Regulatory/legislative developments (H.R.7866 — American Lending Fairness Act) could change state-level rate rules and would have mixed, longer-term implications for large banks like BAC; investors will watch for committee movement. H.R.7866 Lending Bill (context)
• Negative Sentiment: BofA’s European equity strategist Sebastian Raedler warned markets are underestimating risks (20‑year low risk premium) and cited energy-supply disruption risks — that caution is a drag on bank stocks and on sentiment-sensitive trading businesses. Raedler Warns Markets Too Optimistic

Wall Street Analysts Forecast Growth

BAC has been the topic of several research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $59.00 target price on shares of Bank of America in a research note on Thursday. Piper Sandler raised their target price on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. CICC Research initiated coverage on shares of Bank of America in a research note on Wednesday, January 14th. They set an “outperform” rating and a $62.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.90.

Bank of America Stock Performance

Shares of BAC opened at $53.92 on Monday. The firm’s 50 day moving average is $50.45 and its 200-day moving average is $52.27. The stock has a market capitalization of $385.31 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a 12-month low of $36.49 and a 12-month high of $57.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. Equities research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s payout ratio is currently 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.