Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 73,671 Shares of Bank of America Corporation $BAC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Bank of America Corporation (NYSE:BAC) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,562,713 shares of the financial services provider’s stock after selling 73,671 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bank of America were worth $85,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Bridge LLC increased its holdings in shares of Bank of America by 182.3% during the fourth 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 in the last quarter. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter worth $27,000. Collier Financial bought a new stake in Bank of America during the third quarter worth $30,000. Joseph Group Capital Management bought a new stake in Bank of America during the fourth quarter worth $32,000. Finally, HFM Investment Advisors LLC grew its holdings in Bank of America by 566.0% during the fourth 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 in the last quarter. Institutional investors own 70.71% of the company’s stock.

Insiders Place Their Bets

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 354,588 shares of company stock worth $17,814,296 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Bank of America Stock Up 1.6%

Shares of NYSE:BAC opened at $51.56 on Friday. The company has a market capitalization of $365.91 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. 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 has a fifty day moving average price of $51.11 and a two-hundred day moving average price of $52.32. Bank of America Corporation has a 1 year low of $43.36 and a 1 year high of $57.55.

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

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio is 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group upped their price target on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. decreased their price target on Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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.