Hillsdale Investment Management Inc. Grows Stake in Bank of America Corporation $BAC

Hillsdale Investment Management Inc. lifted its stake in shares of Bank of America Corporation (NYSE:BAC) by 587.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,283 shares of the financial services provider’s stock after purchasing an additional 92,523 shares during the period. Hillsdale Investment Management Inc.’s holdings in Bank of America were worth $5,956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Fideuram Asset Management Ireland dac purchased a new stake in shares of Bank of America during the fourth quarter worth about $8,125,000. National Pension Service increased its stake in shares of Bank of America by 9.3% during the fourth quarter. National Pension Service now owns 15,163,763 shares of the financial services provider’s stock worth $834,007,000 after purchasing an additional 1,285,285 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Bank of America during the fourth quarter worth about $337,000. Operose Advisors LLC increased its stake in shares of Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 185 shares in the last quarter. Finally, Basepoint Wealth LLC purchased a new stake in shares of Bank of America during the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC opened at $51.56 on Friday. The firm has a market capitalization of $365.91 billion, a PE ratio of 12.76, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a twelve month low of $43.36 and a twelve month high of $57.55. The firm’s 50-day moving average price is $51.11 and its 200 day moving average price is $52.32. 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 (NYSE:BAC) last posted its quarterly 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 analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, sell-side analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research reports. Daiwa Securities Group boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. UBS Group boosted their target price on shares of Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Jefferies Financial Group boosted their price target on shares of Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America News Summary

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?

Insider Activity

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction 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. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company’s stock.

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.