1,246,634 Bank of America Corporation $BAC Shares Bought by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its Bank of America stake by 17.3%, purchasing 1.25 million shares to hold 8.44 million shares valued at approximately $459.6 million. Institutional investors collectively own 70.71% of BAC.
• Analysts remain broadly positive, with 20 Buy ratings and six Holds; the stock has a “Moderate Buy” consensus and an average price target of $62.82.
• Bank of America’s latest quarter fell slightly short of earnings and revenue estimates, but revenue rose 3.2% year over year. The company also raised its quarterly dividend to $0.32 per share, representing a 2.5% yield.

Robeco Institutional Asset Management B.V. raised its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,443,813 shares of the financial services provider's stock after buying an additional 1,246,634 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.12% of Bank of America worth $459,597,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Legal & General Group Plc bought a new position in shares of Bank of America during the second quarter worth about $2,571,060,000. Deutsche Bank AG bought a new stake in shares of Bank of America during the 2nd quarter worth about $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America during the 2nd quarter valued at $2,313,953,000. Amundi boosted its stake in Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider's stock valued at $1,517,599,000 after purchasing an additional 561,413 shares during the period. Institutional investors own 70.71% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BAC shares. Robert W. Baird upgraded Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 price objective for the company in a report on Thursday, October 15th. Evercore set a $62.00 target price on Bank of America in a research note on Thursday, October 1st. Citigroup lowered their target price on Bank of America from $66.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, October 15th. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company cut their price target on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Twenty analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.82.

Bank of America Trading Up 0.4%

Bank of America stock opened at $50.59 on Wednesday. The firm has a market cap of $353.77 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The firm's 50 day moving average price is $58.52 and its two-hundred day moving average price is $56.77. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same quarter last year, the company posted $1.06 EPS. Bank of America's revenue was up 3.2% on a year-over-year basis. On average, research analysts predict that Bank of America Corporation will post 4.54 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. Bank of America's payout ratio is presently 30.40%.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s second-quarter average loans rose 8% year over year while deposits increased 2%. Despite the uneven growth, net interest income climbed 9%, suggesting the bank is generating stronger returns from its deposit base and lending franchise. Bank of America Deposit Franchise Article
• Positive Sentiment: Bank of America was upgraded to a Buy rating by JLPascual. Other recent commentary indicated that the previously announced regulatory fine and earnings-related weakness may already be reflected in the stock, supporting the potential for a recovery. Bank of America Buy Upgrade
• Neutral Sentiment: The bank launched another investment-grade bond offering, including perpetual notes, shortly after raising $8 billion. The issuance may strengthen funding and capital flexibility, although it also adds financing costs and highlights continued reliance on wholesale markets. Bank of America Bond Sale
• Neutral Sentiment: Bank of America disclosed higher indirect stakes in Qiagen, ICU Girişim Sermayesi and Link Bilgisayar. These appear to be investment or regulatory ownership disclosures rather than changes to the core banking business. Qiagen Stake Disclosure
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged investor misstatements concerning anti-money-laundering and sanctions-compliance failures. The litigation follows more than $1.2 billion in federal penalties and creates potential legal costs and reputational damage. BAC Securities Class Action Alert
• Negative Sentiment: The latest reported quarter missed consensus estimates on both earnings and revenue, while broad bank stocks remain under pressure from rising Treasury yields and uncertainty over Federal Reserve policy. Bank Stocks Under Pressure

Bank of America Company Profile

Bank of America Corporation NYSE: BAC is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company's consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.

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