American Trust Has $1.19 Million Stock Holdings in Bank of America Corporation $BAC

American Trust increased its position in Bank of America Corporation (NYSE:BAC) by 95.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,640 shares of the financial services provider’s stock after purchasing an additional 10,560 shares during the quarter. American Trust’s holdings in Bank of America were worth $1,190,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its position in Bank of America by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after purchasing an additional 1,603,080 shares during the last quarter. Mufg Securities Americas Inc. lifted its stake in shares of Bank of America by 26.6% during the 3rd quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after buying an additional 41,809 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Bank of America by 11.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock valued at $34,974,000 after buying an additional 68,093 shares in the last quarter. Constant Guidance Financial LLC lifted its stake in shares of Bank of America by 603.4% during the 3rd quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider’s stock valued at $1,253,000 after buying an additional 20,831 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Bank of America in the third quarter worth about $27,629,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Piper Sandler lifted their price objective on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. 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. Morgan Stanley reduced their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Finally, Erste Group Bank cut Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.06.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s 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 transaction, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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: Bank of America was added to the Investor’s Business Daily Breakout Stocks Index and moved into a new buy zone, with the stock showing clear signs of investor demand. AI Strategy, Double-Digit Growth Put BofA Stock In Focus
• Positive Sentiment: Analysts and market coverage are highlighting BAC’s strong multi-year gains and continued appeal as a reasonably valued financial stock, which may be supporting sentiment despite the run-up in the share price. Bank of America (BAC) Stock After Strong Multi‑Year Gains Still Reasonably Priced?
• Positive Sentiment: Bank of America executives said AI could expand its dominance in municipal underwriting, reinforcing the bank’s technology-driven growth narrative and potential for higher fee income. BofA Exec Sees AI Expanding Its Domination of Muni Underwriting
• Positive Sentiment: A new Bank of America study found wealthy clients are facing more complex financial planning needs due to longer lifespans and faster wealth transfer, which could support demand for the bank’s private banking and wealth management services. BofA Study Finds Longevity and Accelerating Wealth Transfer Are Making Family Finances More Complex
• Neutral Sentiment: Bank of America’s latest investor survey pointed to resilient economic conditions and a higher equity overweight among fund managers, but this is more a read on market positioning than a direct earnings catalyst. Bank of America takes firm position on inflation, economy
• Neutral Sentiment: The company also renewed its partnership with the Kansas City Current, a positive branding move but not likely to have a material near-term impact on BAC shares. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Negative Sentiment: Analyst price-target moves were mixed, with some firms cutting estimates, suggesting the market still has some concerns about BAC’s valuation and earnings outlook after a strong rally. Bank of America (BAC) Stock Draws Fresh Price Target Split After Mixed Analyst Revisions

Bank of America Stock Down 0.5%

BAC opened at $56.55 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. Bank of America Corporation has a fifty-two week low of $44.21 and a fifty-two week high of $57.98. The firm’s fifty day moving average is $52.70 and its 200 day moving average is $52.49. The stock has a market cap of $401.28 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.18.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the previous year, the company earned $0.90 EPS. Bank of America’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is 27.72%.

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.