General Pension Society PZU Joint Stock Co Boosts Stake in Bank of America Corporation $BAC

General Pension Society PZU Joint Stock Co grew its holdings in Bank of America Corporation (NYSE:BAC) by 39.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,896 shares of the financial services provider’s stock after acquiring an additional 170,784 shares during the period. Bank of America comprises about 7.3% of General Pension Society PZU Joint Stock Co’s investment portfolio, making the stock its 8th biggest position. General Pension Society PZU Joint Stock Co’s holdings in Bank of America were worth $29,537,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter valued at approximately $26,000. Legacy Bridge LLC boosted its stake in Bank of America by 182.3% in 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 during the period. Wiser Advisor Group LLC purchased a new stake in Bank of America during the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America during the 4th quarter valued at approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of several research analyst reports. Argus boosted their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Morgan Stanley lifted their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Finally, Evercore cut their price objective on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $61.60.

Bank of America Price Performance

BAC stock opened at $58.67 on Friday. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $59.19. 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 company has a fifty day simple moving average of $53.71 and a two-hundred day simple moving average of $52.78. The firm has a market capitalization of $416.35 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its 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. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. Analysts anticipate that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.9%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts continue to view BAC as undervalued, with Morgan Stanley recently raising its price target and calling the stock attractive relative to peers, which supports the bullish case for the shares. Bank of America (BAC) Stock Looks Reasonable On Earnings But Stretched Versus Fair Value
• Positive Sentiment: The bank’s recent earnings strength and expectations for another strong quarter remain a key tailwind, with investors focusing on continued profit growth and solid revenue trends ahead of the next report. Bank of America (BAC) Stock Looks Reasonable On Earnings But Stretched Versus Fair Value
• Neutral Sentiment: Several articles framed BAC as a reasonable value-and-income play versus Wells Fargo and highlighted ongoing strength in the megabank group, but these pieces are more comparative than company-specific catalysts. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Bank of America’s own strategists have been active in market commentary, including warnings about a possible S&P 500 correction and broader rotation into “boring” stocks, but those views mainly reflect macro positioning rather than a direct BAC earnings catalyst. S&P 500 Faces Risk of a ‘Three-Wave Correction,’ Warns Bank of America
• Negative Sentiment: Senate Democrats are asking the Fed inspector general to review whether a Fed official violated rules by speaking at a private Bank of America client dinner, creating a modest regulatory and reputational overhang for BAC. US Senator Warren calls for Fed watchdog review of Bowman’s BofA dinner, WSJ reports
• Negative Sentiment: Bank of America’s Merrill Lynch unit was also fined by the SEC, which adds to headline risk even though the penalty appears relatively limited in size. Bank of America’s Merrill Lynch unit fined $7.5M by U.S. SEC

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 that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction 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. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

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.