Epoch Investment Partners Inc. Trims Stake in Bank of America Corporation $BAC

Epoch Investment Partners Inc. reduced its position in Bank of America Corporation (NYSE:BAC) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,787,953 shares of the financial services provider’s stock after selling 52,653 shares during the period. Epoch Investment Partners Inc.’s holdings in Bank of America were worth $87,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB boosted its stake in Bank of America by 53.0% during 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 during the last quarter. Legal & General Group Plc raised its position in shares of Bank of America by 3.4% in the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock valued at $2,497,655,000 after buying an additional 1,487,809 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Bank of America by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock worth $159,794,000 after buying an additional 71,307 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in Bank of America by 34.3% during the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock worth $119,647,000 after acquiring an additional 555,063 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Bank of America by 217.4% during the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock worth $18,037,000 after acquiring an additional 224,627 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC stock opened at $62.00 on Friday. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.28. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock has a market cap of $439.96 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business has a fifty day moving average of $56.42 and a two-hundred day moving average of $53.36.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. As a group, research analysts anticipate that Bank of America Corporation will post 4.65 earnings per share for the current year.

Bank of America Increases Dividend

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

Analyst Ratings Changes

A number of research firms have commented on BAC. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. upped their target price on Bank of America from $57.50 to $62.50 and gave the company an “overweight” rating in a report on Monday, July 6th. Truist Financial lifted their price target on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.77.

Bank of America News Roundup

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

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America 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 completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

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.