Mercer Global Advisors Inc. ADV Purchases 185,731 Shares of Bank of America Corporation $BAC

Mercer Global Advisors Inc. ADV grew its position in Bank of America Corporation (NYSE:BAC) by 17.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259,938 shares of the financial services provider’s stock after acquiring an additional 185,731 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Bank of America were worth $65,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steph & Co. grew its holdings in Bank of America by 224.3% during the third 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. Collier Financial acquired a new position in Bank of America during the third quarter worth approximately $30,000. Marquette Asset Management LLC bought a new stake in Bank of America in the third quarter valued at approximately $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bank of America in the third quarter valued at approximately $31,000. Finally, Wealth Preservation Advisors LLC lifted its position in shares of Bank of America by 48.7% in the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock valued at $32,000 after buying an additional 223 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Trending Headlines about Bank of America

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

• Positive Sentiment: Q1 net interest income (NII) is tracking at least 7% higher year-over-year, which supports near-term earnings and helps offset pressure on other revenue lines. Read More.
• Positive Sentiment: Market commentary is flagging BAC as a deep-value, dividend-paying bank after recent sector selloff (forward P/E in value territory and a ~2.5% yield); that framing can attract value-oriented buyers if sector sentiment stabilizes. Read More.
• Positive Sentiment: Product/brand move — BofA and Zelle launched faster charitable disbursements from donor-advised funds, a modest but constructive customer-engagement initiative that can deepen deposit and payments relationships over time. Read More.
• Neutral Sentiment: BofA research raised semiconductor estimates, saying the Iran conflict is unlikely to meaningfully disrupt chip supply chains; useful for sector allocation but only an indirect read-through for bank trading or lending exposure. Read More.
• Neutral Sentiment: Commodities/research note: BofA raised its Brent oil forecast after Strait of Hormuz disruptions — market volatility in energy can boost trading/markets revenue but also raises macro risk. Read More.
• Negative Sentiment: Legal/regulatory hit — Bank of America agreed to settle a civil lawsuit brought by women accusing the bank of failing to report suspicious Jeffrey Epstein-related transactions. Settlement details are being reported; even if financial impact is manageable, reputational and regulatory scrutiny are negatives for sentiment. Read More.
• Negative Sentiment: Insider selling — International President Bernard Mensah disclosed a sale of ~94,000 shares (~$4.4M). Large insider sales can weigh on near-term sentiment even if they are routine or for diversification. Read More.
• Negative Sentiment: Macro risk warning — BofA economists say investors may be underestimating how the Iran war could disrupt the global economy; elevated geopolitical risk raises downside for markets and bank credit/trading exposure. Read More.

Insider Buying and Selling

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated 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 completion of the sale, the insider owned 170,184 shares in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is owned by company insiders.

Bank of America Stock Performance

NYSE:BAC opened at $47.07 on Tuesday. The stock has a 50 day simple moving average of $52.32 and a 200 day simple moving average of $52.46. The stock has a market cap of $337.84 billion, a P/E ratio of 12.29, a PEG ratio of 1.14 and a beta of 1.28. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

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

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. Bank of America’s dividend payout ratio is 29.24%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial decreased their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Daiwa Securities Group dropped their price objective on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Finally, Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America Company 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.