Bank of America Corporation $BAC Stock Holdings Lessened by Delta Capital Management LLC

Delta Capital Management LLC lessened its stake in Bank of America Corporation (NYSE:BAC) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,180 shares of the financial services provider’s stock after selling 12,230 shares during the period. Bank of America accounts for about 1.4% of Delta Capital Management LLC’s holdings, making the stock its 9th biggest position. Delta Capital Management LLC’s holdings in Bank of America were worth $3,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the third quarter valued at approximately $27,000. Steph & Co. lifted its holdings in shares of 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. Marquette Asset Management LLC acquired a new stake in shares of Bank of America during the third quarter worth $30,000. Collier Financial purchased a new position in Bank of America in the 3rd quarter valued at $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Bank of America in the 3rd quarter valued at $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 0.5%

Shares of NYSE BAC opened at $47.20 on Tuesday. The stock has a market capitalization of $337.26 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The firm has a 50-day moving average price of $50.91 and a 200 day moving average price of $52.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

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

Bank of America Announces Dividend

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

Trending Headlines about Bank of America

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

• Positive Sentiment: Sector momentum: Financial stocks are broadly advancing this morning, which tends to lift large-cap banks like BAC as investors rotate into financials. Sector Update: Financial Stocks Advance Premarket Monday
• Positive Sentiment: “Big bank” safe-haven narrative: Coverage arguing the major banks are safer than private-credit funds has supported demand for systemically important banks, benefiting BAC relative to smaller credit providers. Private-credit crisis or growing pains? Why the ‘Big Six’ banks are a safer bet.
• Neutral Sentiment: BofA research product highlights AI winners — underscores the firm’s visible research franchise but has no direct earnings impact on BAC. These stocks are ‘the place to be’ if you want serious AI growth, says BofA
• Neutral Sentiment: BofA initiated coverage on ProPetro with a Buy — positive for BofA’s institutional-fee generation and research visibility, but indirect for BAC equity moves. ProPetro awarded ‘Buy’ rating in initial coverage from Bank of America
• Negative Sentiment: Legal hit: Reports say BAC will pay about $72.5M to settle a lawsuit by victims of Jeffrey Epstein — a direct expense and reputational headwind that can pressure the stock. Bank of America to pay $72.5M to settle lawsuit by Epstein victims
• Negative Sentiment: Security/reputation risk: French authorities opened a terror probe after a failed attack near BAC’s Paris HQ — an operational/reputational risk that can add short-term uncertainty. France Opens Terror Probe After Failed Attack at Bank of America’s Paris HQ
• Negative Sentiment: Analyst and market caution: Oppenheimer trimmed BAC’s price target, and a BofA technical analyst warned Q2 may be challenging for equities — both increase downside risk and could limit upside. Oppenheimer Cuts Bank of America (NYSE:BAC) Price Target to $58.00 Bank of America has blunt message on stocks and bonds for Q2
• Negative Sentiment: Geopolitical risk: Middle East strikes and escalation concerns are raising market volatility broadly — a headwind for banks’ trading and loan books. Iran Strikes Spread as US Troop Buildup Spurs Escalation Concern

Analyst Ratings Changes

Several brokerages have recently weighed in on BAC. Piper Sandler lifted their target price on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Morgan Stanley reduced their price objective on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Evercore set a $59.00 target price on Bank of America in a research report on Thursday, January 15th. Finally, HSBC increased their target price on Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.67.

Insider Activity at Bank of America

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last ninety days. Corporate insiders own 0.30% 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.