Assetmark Inc. Has $35.98 Million Stock Holdings in Bank of America Corporation $BAC

Assetmark Inc. decreased its stake in Bank of America Corporation (NYSE:BAC) by 27.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,069 shares of the financial services provider’s stock after selling 278,601 shares during the quarter. Assetmark Inc.’s holdings in Bank of America were worth $35,981,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. PeakShares LLC raised its stake in shares of Bank of America by 12.5% in the first quarter. PeakShares LLC now owns 2,856 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 318 shares during the last quarter. Paradigm Capital Management LLC NV raised its position in Bank of America by 1.9% in the 1st quarter. Paradigm Capital Management LLC NV now owns 33,559 shares of the financial services provider’s stock valued at $1,636,000 after purchasing an additional 616 shares during the last quarter. Gould Asset Management LLC CA lifted its position in shares of Bank of America by 3.4% during the first quarter. Gould Asset Management LLC CA now owns 12,247 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 398 shares in the last quarter. Avalon Trust Co lifted its position in shares of Bank of America by 10.4% during the first quarter. Avalon Trust Co now owns 11,203 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Frisch Financial Group Inc. grew its stake in shares of Bank of America by 1.3% during the first quarter. Frisch Financial Group Inc. now owns 15,569 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 197 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $61.18 on Friday. The firm has a market cap of $434.16 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.81. The stock’s fifty day moving average price is $55.30 and its two-hundred day moving average price is $53.15. Bank of America Corporation has a one year low of $44.75 and a one year high of $62.12.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period in the prior year, the firm posted $0.89 EPS. Bank of America’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, research analysts expect that Bank of America Corporation will post 4.64 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced 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 was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.8%. Bank of America’s dividend payout ratio is presently 27.72%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BAC shares. Argus set a $70.00 price objective on Bank of America in a report on Wednesday. Royal Bank Of Canada lifted their price objective on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Citigroup upped their target price on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.

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.