Athena Wealth Management LLC Increases Stock Position in Bank of America Corporation $BAC

Athena Wealth Management LLC raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 56.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,463 shares of the financial services provider’s stock after acquiring an additional 9,499 shares during the period. Bank of America makes up 1.1% of Athena Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Athena Wealth Management LLC’s holdings in Bank of America were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Handelsbanken Fonder AB grew its position in Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after acquiring an additional 1,603,080 shares in the last quarter. Mufg Securities Americas Inc. lifted its position in shares of Bank of America by 26.6% during the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock worth $10,262,000 after purchasing an additional 41,809 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Bank of America by 11.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock worth $34,974,000 after purchasing an additional 68,093 shares in the last quarter. Constant Guidance Financial LLC boosted its stake in shares of Bank of America by 603.4% in the third quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider’s stock valued at $1,253,000 after purchasing an additional 20,831 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Bank of America by 4.1% in the third quarter. Rafferty Asset Management LLC now owns 2,267,830 shares of the financial services provider’s stock valued at $116,997,000 after purchasing an additional 88,991 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’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 completion of the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Bank of America Price Performance

BAC stock opened at $57.37 on Tuesday. The business has a 50 day moving average price of $53.00 and a 200 day moving average price of $52.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock has a market cap of $407.10 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.95 and a beta of 1.19. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $57.98.

Bank of America (NYSE:BAC) last released its quarterly earnings data 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 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 last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BAC shares. Piper Sandler upped their target price on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Daiwa Securities Group raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird boosted their price target on shares of Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, Argus increased their price objective 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. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s economists now expect three Fed rate hikes in 2026 and no cuts until 2028, a more hawkish outlook that could support bank lending margins and interest income.
• Positive Sentiment: Several articles highlighted BAC as a top financial stock and a long-term Berkshire Hathaway holding, reinforcing investor confidence in the franchise and its valuation appeal.
• Neutral Sentiment: A Zacks note said BAC looks inexpensive versus peers, but also flagged rising costs and a mixed earnings outlook, making the valuation case less clear in the near term. Article Title
• Neutral Sentiment: Another piece quoted BofA strategist Savita Subramanian on market opportunities and earnings momentum, but it was mainly a broader market commentary rather than a direct catalyst for BAC. Article Title

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.