Bank of America Corporation $BAC Stake Cut by VCI Wealth Management LLC

VCI Wealth Management LLC lessened its holdings in Bank of America Corporation (NYSE:BAC) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,010 shares of the financial services provider’s stock after selling 12,502 shares during the quarter. VCI Wealth Management LLC’s holdings in Bank of America were worth $2,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. Capital World Investors boosted its position in Bank of America by 11.0% during the 3rd 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. Danske Bank A S bought a new position in Bank of America during the 3rd quarter worth $224,863,000. Capitolis Liquid Global Markets LLC increased its position in Bank of America by 52.0% in the third quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock worth $644,681,000 after buying an additional 4,273,472 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in Bank of America in the third quarter valued at $218,030,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of BAC stock traded up $0.41 during midday trading on Friday, reaching $53.92. 43,461,147 shares of the company were exchanged, compared to its average volume of 36,507,432. The company’s 50 day moving average price is $50.45 and its two-hundred day moving average price is $52.26. The company has a market cap of $385.31 billion, a P/E ratio of 13.35, a PEG ratio of 0.92 and a beta of 1.23. Bank of America Corporation has a 12 month low of $36.49 and a 12 month high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.80 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current 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 given a dividend of $0.28 per share. The ex-dividend date was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Analyst Upgrades and Downgrades

BAC has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Autonomous Res reduced their target price on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Daiwa Securities Group dropped their price target on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Oppenheimer boosted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.90.

Insider Activity

In other news, insider Bernard A. Mensah sold 94,000 shares of the business’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s 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 sale, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is owned by company insiders.

Bank of America News Roundup

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

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.