Border to Coast Pensions Partnership Ltd Sells 297,279 Shares of Bank of America Corporation $BAC

Border to Coast Pensions Partnership Ltd reduced its stake in Bank of America Corporation (NYSE:BAC) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,100,242 shares of the financial services provider’s stock after selling 297,279 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Bank of America were worth $53,801,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB raised its stake in Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after purchasing an additional 1,603,080 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in Bank of America by 11.2% in the 3rd 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 purchasing an additional 68,093 shares during the period. Rafferty Asset Management LLC grew its position in shares of Bank of America by 4.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 2,267,830 shares of the financial services provider’s stock worth $116,997,000 after purchasing an additional 88,991 shares in the last quarter. Legal & General Group Plc grew its position in shares of Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. Finally, Certuity LLC increased its holdings in shares of Bank of America by 5.1% during the third quarter. Certuity LLC now owns 523,113 shares of the financial services provider’s stock worth $26,987,000 after purchasing an additional 25,268 shares during the period. 70.71% of the stock is owned by institutional investors.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Citi raised its price target on Bank of America and kept a Buy rating, citing expectations for strong second-quarter results and reinforcing the view that BAC can deliver solid earnings growth. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Barclays reaffirmed its Buy rating on BAC, adding to the bullish analyst backdrop and suggesting Wall Street still sees room for upside. Barclays Reaffirms Their Buy Rating on Bank of America (BAC)
• Positive Sentiment: Bank of America’s own research highlighted AI-driven semiconductor demand, projecting an additional $1 trillion in chip sales over five years, which supports a more constructive macro outlook for markets tied to technology spending and capital formation. BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue
• Positive Sentiment: Reports that major banks passed the Fed stress test again and showed capital resilience may lift sentiment toward large money-center banks like BAC by reinforcing dividend and buyback flexibility. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
• Neutral Sentiment: Other BofA commentary focused on housing trends, small- and mid-cap preferences, and wealthy-investor behavior, but these items are more market-color than direct catalysts for BAC shares. Bank of America sees major housing shift despite high mortgage rates
• Negative Sentiment: Bank of America also warned that the risk of a market correction is rising, a cautious tone that can temper enthusiasm for financial stocks even when fundamentals remain solid. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BAC shares. Citigroup lifted their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Autonomous Res reduced their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. HSBC raised their price objective on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

Bank of America Stock Performance

Shares of Bank of America stock opened at $57.92 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $411.06 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18. The company has a 50 day moving average of $53.36 and a 200-day moving average of $52.68. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $59.19.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) 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 business had revenue of $30.27 billion for 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of America Corporation will post 4.47 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on 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 approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

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.