Norges Bank purchased a new stake in Bank of America Corporation (NYSE:BAC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 86,803,816 shares of the financial services provider’s stock, valued at approximately $4,774,210,000. Bank of America makes up 0.5% of Norges Bank’s investment portfolio, making the stock its 27th largest holding.
A number of other large investors have also made changes to their positions in BAC. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America in the third quarter valued at approximately $27,000. Legacy Bridge LLC lifted its holdings in Bank of America by 182.3% in the fourth 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. Collier Financial acquired a new position in Bank of America in the third quarter valued at approximately $30,000. Joseph Group Capital Management acquired a new position in Bank of America in the fourth quarter valued at approximately $32,000. Finally, HFM Investment Advisors LLC lifted its holdings in Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 532 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Bank of America
In other Bank of America news, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 354,588 shares of company stock valued at $17,814,296 over the last three months. 0.27% of the stock is currently owned by company insiders.
Trending Headlines about Bank of America
- 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?
Bank of America Stock Up 1.6%
NYSE:BAC opened at $51.56 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $51.11 and its two-hundred day moving average is $52.32. Bank of America Corporation has a 52 week low of $43.36 and a 52 week high of $57.55. The stock has a market capitalization of $365.91 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21.
Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current year.
Bank of America Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.
Analyst Ratings Changes
A number of research analysts recently commented on BAC shares. Keefe, Bruyette & Woods upped their price objective on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Evercore decreased their price objective on Bank of America from $70.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Argus upped their price objective on Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Morgan Stanley decreased their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Finally, Oppenheimer upped their price objective on Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.
Get Our Latest Analysis on Bank of America
Bank of America 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.
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