Inceptionr LLC Purchases 23,020 Shares of Bank of America Corporation $BAC

Inceptionr LLC boosted its position in Bank of America Corporation (NYSE:BAC) by 215.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,718 shares of the financial services provider’s stock after acquiring an additional 23,020 shares during the period. Inceptionr LLC’s holdings in Bank of America were worth $1,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Dickmeyer Boyce Financial Management Inc. purchased a new stake in shares of Bank of America during the first quarter worth $480,000. Gibbs Wealth Management grew its position in shares of Bank of America by 124.6% in the first quarter. Gibbs Wealth Management now owns 48,399 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 26,849 shares in the last quarter. MWA Asset Management grew its position in shares of Bank of America by 2.6% in the first quarter. MWA Asset Management now owns 48,848 shares of the financial services provider’s stock valued at $2,381,000 after purchasing an additional 1,225 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Bank of America during the 1st quarter valued at $14,528,000. Finally, First Citizens Bank & Trust Co. lifted its holdings in Bank of America by 1.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 311,906 shares of the financial services provider’s stock worth $15,205,000 after purchasing an additional 3,340 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Insiders Place Their Bets

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BAC. The Goldman Sachs Group raised their target price on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Robert W. Baird increased their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Autonomous Res cut their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Daiwa Securities Group boosted 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 note on Tuesday, April 28th. Finally, Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $63.77.

More Bank of America News

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

• Positive Sentiment: Bank of America’s own analysts said Alphabet’s post-earnings selloff looks like a buying opportunity, reinforcing BAC’s credibility as a market-moving research franchise and highlighting the firm’s influence in large-cap tech coverage. 4 Reasons to Buy Alphabet Stock After the CAPEX Shock: Bank of America
• Positive Sentiment: Bank of America extended the naming-rights deal for Bank of America Stadium with the Carolina Panthers, reinforcing a long-term brand partnership and its visibility in Charlotte and the Carolinas. Bank of America and Carolina Panthers Extend Naming Rights for Bank of America Stadium
• Positive Sentiment: The launch of new hybrid public-private investment funds by Wellington, Vanguard, and Blackstone through Merrill and Bank of America’s private bank could help drive more client assets and deepen wealth-management relationships. Global Market: Wellington, Vanguard, Blackstone launch hybrid public-private investment funds for wealthy clients
• Positive Sentiment: Bank of America’s preferred dividend confirmation and recent earnings backdrop underscore ongoing capital returns and support the valuation case for BAC shares. Bank of America (BAC) Preferred Dividend Update Keeps Valuation In Focus
• Neutral Sentiment: Several articles highlight BAC’s broader market influence, including comments on bank earnings, rate policy, and consumer health, but they do not appear to directly change Bank of America’s near-term earnings outlook. What Bank Earnings Just Revealed About the Health of the American Consumer
• Neutral Sentiment: Coverage of Bank of America’s consumer-service AI rollout and finance-leadership messaging is strategically positive, but likely a longer-term operational story rather than an immediate stock catalyst. Bank of America Equips Customer Service Reps With Gen AI
• Negative Sentiment: CEO commentary warning that inflation could force the Fed into a corner suggests a tougher macro backdrop, which could pressure loan demand, credit costs, and the banking sector broadly if rates stay restrictive. Bank of America CEO warns inflation will back Fed into a corner

Bank of America Stock Down 0.5%

Shares of NYSE:BAC opened at $61.30 on Friday. The firm has a market capitalization of $435.02 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.12. The firm has a fifty day moving average of $56.17 and a 200 day moving average of $53.29.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue was up 19.6% compared to the same quarter last year. As a group, research analysts anticipate that Bank of America Corporation will post 4.65 EPS for the current fiscal year.

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.