Bank of America Corporation $BAC Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd reduced its holdings in Bank of America Corporation (NYSE:BAC) by 65.9% during the 1st quarter, Holdings Channel reports. The fund owned 195,874 shares of the financial services provider’s stock after selling 378,812 shares during the period. Generate Investment Management Ltd’s holdings in Bank of America were worth $9,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Handelsbanken Fonder AB boosted its stake in shares of Bank of America by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after buying an additional 1,603,080 shares during the last quarter. Mufg Securities Americas Inc. raised its position in Bank of America by 26.6% during the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after acquiring an additional 41,809 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in Bank of America by 11.2% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock valued at $34,974,000 after acquiring an additional 68,093 shares in the last quarter. Constant Guidance Financial LLC lifted its holdings in Bank of America by 603.4% in the third quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider’s stock valued at $1,253,000 after acquiring an additional 20,831 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in Bank of America by 4.1% in the third quarter. Rafferty Asset Management LLC now owns 2,267,830 shares of the financial services provider’s stock valued at $116,997,000 after acquiring an additional 88,991 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Argus increased their price target on shares of Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Robert W. Baird raised their price target 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. Autonomous Res cut their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Finally, Truist Financial upped their price objective on shares of Bank of America from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s economists now expect three Fed rate hikes in 2026 and no cuts until 2028, a more hawkish outlook that could support bank lending margins and interest income.
• Positive Sentiment: Several articles highlighted BAC as a top financial stock and a long-term Berkshire Hathaway holding, reinforcing investor confidence in the franchise and its valuation appeal.
• Neutral Sentiment: A Zacks note said BAC looks inexpensive versus peers, but also flagged rising costs and a mixed earnings outlook, making the valuation case less clear in the near term. Article Title
• Neutral Sentiment: Another piece quoted BofA strategist Savita Subramanian on market opportunities and earnings momentum, but it was mainly a broader market commentary rather than a direct catalyst for BAC. Article Title

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 value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

Bank of America Trading Up 2.1%

Shares of NYSE:BAC opened at $57.37 on Tuesday. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $57.98. The firm has a market capitalization of $407.10 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18. 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 business’s 50 day moving average price is $53.00 and its 200-day moving average price is $52.56.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, equities research analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s payout ratio is currently 27.72%.

About Bank of America

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.