Algebris UK Ltd. Sells 272,930 Shares of Bank of America Corporation $BAC

Algebris UK Ltd. lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548,951 shares of the financial services provider’s stock after selling 272,930 shares during the quarter. Bank of America comprises about 3.2% of Algebris UK Ltd.’s investment portfolio, making the stock its 11th largest position. Algebris UK Ltd.’s holdings in Bank of America were worth $28,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Bank of America by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock valued at $6,982,863,000 after purchasing an additional 403,652 shares during the last quarter. Norges Bank acquired a new position in Bank of America in the second quarter valued at approximately $5,091,641,000. Fisher Asset Management LLC boosted its stake in Bank of America by 5.2% in the second quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock valued at $2,432,516,000 after acquiring an additional 2,557,943 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Bank of America by 124.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after acquiring an additional 9,782,208 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Bank of America by 5.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,438,466 shares of the financial services provider’s stock worth $899,650,000 after acquiring an additional 875,514 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their target price on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, January 5th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, January 7th. Finally, UBS Group lifted their price objective on shares of Bank of America from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

More Bank of America News

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Bank of America Stock Performance

Shares of BAC stock opened at $51.75 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company’s 50 day moving average price is $54.06 and its two-hundred day moving average price is $51.39. The company has a market capitalization of $377.87 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America 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.