1,963,661 Shares in Bank of America Corporation $BAC Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB bought a new stake in Bank of America during the first quarter, acquiring 1,963,661 shares valued at about $95.7 million.
• Bank of America reported Q2 earnings of $1.21 per share, topping analyst estimates of $1.13, while revenue rose 19.6% year over year.
• Analysts remain broadly positive on BAC, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target price of $63.77.

SEB Asset Management AB acquired a new stake in Bank of America Corporation (NYSE:BAC) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,963,661 shares of the financial services provider's stock, valued at approximately $95,728,000.

Several other institutional investors have also recently bought and sold shares of BAC. Valley Wealth Managers Inc. lifted its holdings in shares of Bank of America by 284.7% in the first quarter. Valley Wealth Managers Inc. now owns 1,508 shares of the financial services provider's stock worth $74,000 after acquiring an additional 1,116 shares during the last quarter. AIA Group Ltd boosted its stake in shares of Bank of America by 22.6% in the 1st quarter. AIA Group Ltd now owns 798,364 shares of the financial services provider's stock valued at $38,920,000 after purchasing an additional 147,268 shares in the last quarter. Legacy Wealth Advisors LLC grew its holdings in shares of Bank of America by 102.1% during the 1st quarter. Legacy Wealth Advisors LLC now owns 8,732 shares of the financial services provider's stock valued at $426,000 after purchasing an additional 4,411 shares during the last quarter. Spartan Wealth Advisory Services LLC bought a new stake in shares of Bank of America during the 1st quarter valued at approximately $712,000. Finally, Tandem Wealth Advisors LLC increased its position in Bank of America by 11.2% during the 1st quarter. Tandem Wealth Advisors LLC now owns 12,639 shares of the financial services provider's stock worth $616,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE BAC opened at $61.18 on Friday. The company has a market capitalization of $434.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.12. The stock has a fifty day simple moving average of $55.30 and a 200 day simple moving average of $53.15. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Sell-side analysts expect that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 25.69%.

Insider Activity

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

Bank of America News Summary

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Analyst Ratings Changes

Several brokerages recently commented on BAC. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Barclays boosted their target price on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Citigroup increased their price target on Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada raised their price objective on Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average target price of $63.77.

Bank of America 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.

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