Bank of America Corporation $BAC Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 10.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 230,789 shares of the financial services provider’s stock after selling 25,546 shares during the period. Boston Common Asset Management LLC’s holdings in Bank of America were worth $12,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after purchasing an additional 14,275,810 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Bank of America by 2.5% in the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock valued at $2,717,657,000 after purchasing an additional 1,272,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Legal & General Group Plc grew its holdings in Bank of America by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider’s stock valued at $2,266,045,000 after purchasing an additional 1,458,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Bank of America by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider’s stock worth $1,581,350,000 after buying an additional 640,462 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $47.20 on Tuesday. 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 1 year low of $33.06 and a 1 year high of $57.55. The firm’s 50-day simple moving average is $50.91 and its 200-day simple moving average is $52.26. The firm has a market cap of $337.26 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the previous year, the company earned $0.82 earnings per share. Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, March 6th. Bank of America’s payout ratio is 29.24%.

Insider Activity

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on 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 completion of the transaction, the insider owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction on 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 sale, the insider owned 170,184 shares of the company’s stock, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 227,832 shares of company stock worth $11,094,960. 0.30% of the stock is currently owned by insiders.

Bank of America News Summary

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

• Positive Sentiment: Sector momentum: Financial stocks are broadly advancing this morning, which tends to lift large-cap banks like BAC as investors rotate into financials. Sector Update: Financial Stocks Advance Premarket Monday
• Positive Sentiment: “Big bank” safe-haven narrative: Coverage arguing the major banks are safer than private-credit funds has supported demand for systemically important banks, benefiting BAC relative to smaller credit providers. Private-credit crisis or growing pains? Why the ‘Big Six’ banks are a safer bet.
• Neutral Sentiment: BofA research product highlights AI winners — underscores the firm’s visible research franchise but has no direct earnings impact on BAC. These stocks are ‘the place to be’ if you want serious AI growth, says BofA
• Neutral Sentiment: BofA initiated coverage on ProPetro with a Buy — positive for BofA’s institutional-fee generation and research visibility, but indirect for BAC equity moves. ProPetro awarded ‘Buy’ rating in initial coverage from Bank of America
• Negative Sentiment: Legal hit: Reports say BAC will pay about $72.5M to settle a lawsuit by victims of Jeffrey Epstein — a direct expense and reputational headwind that can pressure the stock. Bank of America to pay $72.5M to settle lawsuit by Epstein victims
• Negative Sentiment: Security/reputation risk: French authorities opened a terror probe after a failed attack near BAC’s Paris HQ — an operational/reputational risk that can add short-term uncertainty. France Opens Terror Probe After Failed Attack at Bank of America’s Paris HQ
• Negative Sentiment: Analyst and market caution: Oppenheimer trimmed BAC’s price target, and a BofA technical analyst warned Q2 may be challenging for equities — both increase downside risk and could limit upside. Oppenheimer Cuts Bank of America (NYSE:BAC) Price Target to $58.00 Bank of America has blunt message on stocks and bonds for Q2
• Negative Sentiment: Geopolitical risk: Middle East strikes and escalation concerns are raising market volatility broadly — a headwind for banks’ trading and loan books. Iran Strikes Spread as US Troop Buildup Spurs Escalation Concern

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAC shares. Wolfe Research lowered shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. HSBC lifted their target price on Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada boosted their price target on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Oppenheimer reduced their price target on Bank of America from $63.00 to $58.00 and set an “outperform” rating for the company in a report on Friday. Finally, CICC Research assumed coverage on Bank of America in a report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective on the stock. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

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.