Atalanta Sosnoff Capital LLC Purchases 671,208 Shares of Bank of America Corporation $BAC

Atalanta Sosnoff Capital LLC lifted its holdings in Bank of America Corporation (NYSE:BAC) by 68.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,646,235 shares of the financial services provider’s stock after purchasing an additional 671,208 shares during the period. Bank of America comprises 1.8% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 19th biggest position. Atalanta Sosnoff Capital LLC’s holdings in Bank of America were worth $90,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new position in Bank of America during the third quarter worth about $27,000. Legacy Bridge LLC raised its stake in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares during the period. Joseph Group Capital Management purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $32,000. HFM Investment Advisors LLC increased its stake in Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after buying an additional 532 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in Bank of America during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Jefferies Financial Group increased their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Robert W. Baird raised their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price 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. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.06.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’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 value of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Bank of America Price Performance

Shares of BAC opened at $55.96 on Friday. The company has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 0.93 and a beta of 1.18. Bank of America Corporation has a fifty-two week low of $43.66 and a fifty-two week high of $57.55. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $52.29 and its 200-day moving average is $52.41.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities research analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

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

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.