Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 60.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,227,587 shares of the financial services provider’s stock after selling 10,881,695 shares during the quarter. Bank of America makes up 0.7% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 29th largest holding. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Bank of America worth $397,517,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC purchased a new position in shares of Bank of America during the 3rd quarter worth $27,000. Legacy Bridge LLC boosted 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 acquiring an additional 330 shares during the last quarter. Joseph Group Capital Management purchased a new position in shares of Bank of America during the 4th quarter worth $32,000. HFM Investment Advisors LLC boosted its stake 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 acquiring an additional 532 shares during the last quarter. Finally, Coston McIsaac & Partners boosted its stake 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 acquiring an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.
Bank of America Stock Up 1.5%
Shares of BAC stock opened at $55.96 on Friday. 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 $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.95 and a beta of 1.18. The company’s fifty day moving average price is $52.29 and its 200-day moving average price is $52.41. Bank of America Corporation has a one year low of $43.66 and a one year high of $57.55.
Bank of America Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.
Analysts Set New Price Targets
Several brokerages have recently commented on BAC. Jefferies Financial Group raised their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Daiwa Securities Group raised their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.06.
Key Headlines Impacting Bank of America
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. Bank of America Corporation
- 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
Insider Transactions at Bank of America
In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
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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