Arax Advisory Partners Reduces Position in Bank of America Corporation $BAC

Arax Advisory Partners lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 62.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,279 shares of the financial services provider’s stock after selling 107,125 shares during the quarter. Arax Advisory Partners’ holdings in Bank of America were worth $3,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Norges Bank purchased a new position in Bank of America during the 4th quarter worth approximately $4,774,210,000. Capital International Investors purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. boosted its stake in shares of Bank of America by 914.5% in the fourth quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after buying an additional 22,621,546 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BAC shares. Keefe, Bruyette & Woods lifted their price target on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Oppenheimer lifted their price target on Bank of America from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Argus lifted their price target on Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. 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 note on Thursday, April 16th. Finally, Piper Sandler lifted their price target on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.06.

Bank of America News Summary

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.
• 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 Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Bank of America Stock Performance

Shares of BAC stock opened at $55.96 on Monday. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55. The stock has a market cap of $397.15 billion, a PE ratio of 13.85, a P/E/G ratio of 0.95 and a beta of 1.19. The stock has a fifty day moving average price of $52.29 and a 200 day moving average price of $52.42. 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 (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio is presently 27.72%.

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.