Bank of America Corporation $BAC Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 440,698 shares of the financial services provider’s stock after selling 11,567 shares during the quarter. Aristotle Atlantic Partners LLC’s holdings in Bank of America were worth $21,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BAC. Norges Bank bought a new stake in shares of Bank of America during the fourth quarter valued at about $4,774,210,000. Capital International Investors bought a new position in Bank of America in the 4th quarter valued at about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 buying an additional 40,235,201 shares during the period. Vanguard Group Inc. increased its stake in Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. raised its position in shares of Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock worth $1,380,239,000 after buying an additional 22,621,546 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Trading Up 1.2%

Shares of NYSE BAC opened at $62.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.28. The company has a market cap of $439.96 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.99 and a beta of 1.17. The business has a fifty day simple moving average of $56.42 and a 200-day simple moving average of $53.36.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Sell-side analysts predict that Bank of America Corporation will post 4.65 EPS for the current year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 4th. This is a boost from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio is 25.69%.

Insiders Place Their Bets

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BAC shares. Daiwa Securities Group upped their price target 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. Wells Fargo & Company raised their price objective on shares of Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group boosted their target price on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Finally, Citigroup increased their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.77.

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.