Bank of America Corporation $BAC Shares Sold by Berkshire Hathaway Inc

Berkshire Hathaway Inc lowered its position in Bank of America Corporation (NYSE:BAC) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 517,295,934 shares of the financial services provider’s stock after selling 50,774,078 shares during the quarter. Bank of America makes up about 10.4% of Berkshire Hathaway Inc’s investment portfolio, making the stock its 3rd largest holding. Berkshire Hathaway Inc owned 0.07% of Bank of America worth $28,451,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BAC. Norges Bank acquired a new position in shares of Bank of America in the fourth quarter valued at $4,774,210,000. Capital International Investors acquired a new stake in Bank of America in the 4th quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Bank of America by 640.5% in 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 holdings in Bank of America by 3.7% in 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. increased its holdings in Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after buying an additional 22,621,546 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BAC shares. Morgan Stanley decreased their target price on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. Robert W. Baird increased their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” 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 stock has a consensus rating of “Moderate Buy” and an average target price of $61.06.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by insiders.

Bank of America Stock Performance

NYSE BAC opened at $56.55 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $52.70 and a 200-day moving average price of $52.49. Bank of America Corporation has a 1 year low of $44.21 and a 1 year high of $57.98. The firm has a market cap of $401.28 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.96 and a beta of 1.18.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America was added to the Investor’s Business Daily Breakout Stocks Index and moved into a new buy zone, with the stock showing clear signs of investor demand. AI Strategy, Double-Digit Growth Put BofA Stock In Focus
• Positive Sentiment: Analysts and market coverage are highlighting BAC’s strong multi-year gains and continued appeal as a reasonably valued financial stock, which may be supporting sentiment despite the run-up in the share price. Bank of America (BAC) Stock After Strong Multi‑Year Gains Still Reasonably Priced?
• Positive Sentiment: Bank of America executives said AI could expand its dominance in municipal underwriting, reinforcing the bank’s technology-driven growth narrative and potential for higher fee income. BofA Exec Sees AI Expanding Its Domination of Muni Underwriting
• Positive Sentiment: A new Bank of America study found wealthy clients are facing more complex financial planning needs due to longer lifespans and faster wealth transfer, which could support demand for the bank’s private banking and wealth management services. BofA Study Finds Longevity and Accelerating Wealth Transfer Are Making Family Finances More Complex
• Neutral Sentiment: Bank of America’s latest investor survey pointed to resilient economic conditions and a higher equity overweight among fund managers, but this is more a read on market positioning than a direct earnings catalyst. Bank of America takes firm position on inflation, economy
• Neutral Sentiment: The company also renewed its partnership with the Kansas City Current, a positive branding move but not likely to have a material near-term impact on BAC shares. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Negative Sentiment: Analyst price-target moves were mixed, with some firms cutting estimates, suggesting the market still has some concerns about BAC’s valuation and earnings outlook after a strong rally. Bank of America (BAC) Stock Draws Fresh Price Target Split After Mixed Analyst Revisions

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.