Bank of America Corporation $BAC Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its holdings in Bank of America Corporation (NYSE:BAC) by 73.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 142,132 shares of the financial services provider’s stock after buying an additional 60,122 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Bank of America were worth $6,929,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Abound Financial LLC bought a new position in Bank of America in the 4th quarter worth approximately $26,000. Legacy Bridge LLC lifted its holdings in Bank of America by 182.3% in the fourth 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 acquired a new stake in Bank of America in the third quarter worth about $27,000. CrossGen Wealth LLC bought a new position in Bank of America in the 4th quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new position in Bank of America in the 4th quarter valued at about $32,000. Institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

Insider Buying and Selling

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 shares were 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 of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $59.00 target price on shares of Bank of America in a report on Thursday, April 16th. Finally, Robert W. Baird upped their target price on Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Bank of America Stock Performance

NYSE:BAC opened at $58.67 on Friday. The company has a 50-day moving average of $53.82 and a 200-day moving average of $52.82. The firm has a market cap of $416.35 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $59.19.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The business 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 revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Analysts forecast that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Bank of America’s dividend payout ratio 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.