State of Alaska Department of Revenue Cuts Stock Holdings in Bank of America Corporation $BAC

State of Alaska Department of Revenue trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 667,258 shares of the financial services provider’s stock after selling 64,730 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bank of America were worth $36,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $27,000. Steph & Co. raised its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares during the period. Legacy Bridge LLC raised 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 worth $28,000 after purchasing an additional 330 shares during the period. Marquette Asset Management LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $30,000. Finally, Collier Financial bought a new stake in shares of Bank of America during the 3rd quarter worth $30,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Up 0.0%

Shares of Bank of America stock opened at $52.56 on Monday. Bank of America Corporation has a 52-week low of $34.81 and a 52-week high of $57.55. The stock’s 50-day simple moving average is $50.59 and its 200 day simple moving average is $52.20. The stock has a market capitalization of $375.56 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the business posted $0.82 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were issued 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 was Friday, March 6th. Bank of America’s payout ratio is presently 29.24%.

Bank of America News Summary

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

• Positive Sentiment: KBW says largest banks now trade at higher multiples than smaller banks, a relative-valuation tailwind for big-cap lenders like BAC as investors re-rate scale and franchise advantages. Largest banks trade at higher multiples than smaller banks now, says KBW’s Chris McGratty
• Positive Sentiment: Several analysts have revised earnings forecasts ahead of BAC’s Q1 report (consensus ~ $1.01/sh), which raises expectations that a modest beat could lift the stock on the print. Bank of America Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Positive Sentiment: An analyst raised FY2026 EPS forecasts for BAC, signaling some upward revision risk to estimates that could support the stock if confirmed by results. FY2026 EPS Forecast for Bank of America Increased by Analyst
• Positive Sentiment: BAC is highlighted for OCIO leadership and involvement in potential large AI data-center financing (Oracle project), which points to meaningful investment-banking/credit revenue opportunities. Bank Of America’s OCIO Leadership And AI Financing Set Against Valuation
• Neutral Sentiment: BofA research upgraded its semiconductor view and flagged AI “picks-and-shovels” (Cadence, Synopsys) — a sign of research strength that indirectly supports fee businesses but doesn’t move BAC’s core banking metrics. Bank of America Wants You to Buy the Dip in These 2 Picks-and-Shovels AI Stocks
• Neutral Sentiment: BofA reiterates a view that the Fed is likely to cut rates this year — a macro forecast that has mixed implications for bank net interest margins and stock multiple direction. BofA explains why Fed is likely to deliver rate cuts this year
• Negative Sentiment: UBS trimmed its BAC price target to $62, signaling reduced upside from that shop and contributing to downward pressure on the stock. UBS Group Cuts Bank of America (NYSE:BAC) Price Target to $62.00
• Negative Sentiment: JPMorgan also lowered its BAC price target to $57.50, adding to analyst-driven headwinds into the earnings print. JPMorgan Chase & Co. Lowers Bank of America (NYSE:BAC) Price Target to $57.50

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAC. Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group lifted their target price on Bank of America from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, January 27th. Piper Sandler lifted their target price on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Finally, Wells Fargo & Company boosted their price objective on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.10.

Insider Buying and Selling at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Demare sold 83,832 shares of the company’s 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 owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

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.