Aaron Wealth Advisors LLC Has $3.98 Million Holdings in Bank of America Corporation $BAC

Aaron Wealth Advisors LLC decreased its stake in shares of Bank of America Corporation (NYSE:BAC) by 10.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 81,702 shares of the financial services provider’s stock after selling 9,230 shares during the period. Aaron Wealth Advisors LLC’s holdings in Bank of America were worth $3,983,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BAC. Abound Financial LLC bought a new position in Bank of America in the 4th quarter valued at about $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the 3rd quarter valued at about $27,000. Legacy Bridge LLC increased its holdings in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. CrossGen Wealth LLC bought a new stake in Bank of America during the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America in the fourth quarter worth approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business’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 sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Bank of America News Summary

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

• Positive Sentiment: Citi raised its price target on Bank of America and maintained a Buy rating, signaling confidence ahead of the bank’s next earnings report. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Bank of America is being cited as a top blue-chip dividend stock, reinforcing its appeal to income-focused investors. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Analysts expect Bank of America to post double-digit bottom-line growth when it reports second-quarter earnings next month. What You Need to Know Ahead of Bank of America’s Earnings Release
• Positive Sentiment: The broader banking backdrop is constructive after major U.S. banks passed the Fed stress test, supporting expectations for stronger capital returns across the sector. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
• Neutral Sentiment: Bank of America also reiterated its upbeat view on Coinbase and Micron, showing the firm remains active and constructive on other market names, but these calls are not direct drivers for BAC shares. Bank of America predicts big upside for Coinbase
• Negative Sentiment: One note from TipRanks said Bank of America sees rising market-correction risk and advised investors to get defensive, which could temper overall risk appetite. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BAC. Piper Sandler raised their target price on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Evercore decreased their price target on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. The Goldman Sachs Group increased their price target on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Jefferies Financial Group raised their price objective on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $61.23.

Bank of America Stock Up 0.6%

BAC opened at $58.09 on Friday. 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 $412.24 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 0.98 and a beta of 1.18. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $59.20. The company’s 50-day moving average price is $53.29 and its two-hundred day moving average price is $52.65.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. As a group, equities analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is currently 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.