Alecta Tjanstepension Omsesidigt Sells 396,900 Shares of Bank of America Corporation $BAC

Key Points

• Alecta Tjänstepension Omsesidigt reduced its Bank of America holding by 6.4%, selling 396,900 shares to hold 5,810,300 shares (about 0.08% of BAC) worth roughly $319.5 million, making BAC its 20th largest position and 1.4% of Alecta's portfolio.
• Analyst sentiment is positive with a consensus rating of Moderate Buy (22 Buys, 5 Holds) and an average price target of $61.02, while several firms recently adjusted targets around the low $60s.
• Bank of America reported an EPS beat ($1.11 vs. $1.00) and revenue up 10.7%, declared a $0.28 quarterly dividend (2.1% yield), and insiders have sold about 227,832 shares (~$11.1M) in the past 90 days.

Alecta Tjanstepension Omsesidigt lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,810,300 shares of the financial services provider's stock after selling 396,900 shares during the quarter. Bank of America comprises 1.4% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 20th largest position. Alecta Tjanstepension Omsesidigt owned about 0.08% of Bank of America worth $319,508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Indivisible Partners bought a new position in shares of Bank of America in the 4th quarter worth $5,716,000. RFG Advisory LLC raised its holdings in shares of Bank of America by 9.4% during the 4th quarter. RFG Advisory LLC now owns 32,289 shares of the financial services provider's stock valued at $1,776,000 after buying an additional 2,771 shares in the last quarter. Swedbank AB raised its holdings in shares of Bank of America by 2.0% during the 4th quarter. Swedbank AB now owns 11,840,325 shares of the financial services provider's stock valued at $651,218,000 after buying an additional 237,423 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Bank of America by 4.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,676,897 shares of the financial services provider's stock valued at $821,172,000 after buying an additional 558,929 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of Bank of America by 2.7% during the 4th quarter. BOKF NA now owns 287,530 shares of the financial services provider's stock valued at $15,814,000 after buying an additional 7,619 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Daiwa Securities Group raised their price objective on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods raised their price objective on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Morgan Stanley decreased their price objective on Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Finally, Evercore raised their price objective on Bank of America from $55.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $61.02.

Insider Buying and Selling

In other news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 in the last ninety days. 0.27% of the stock is owned by insiders.

Key Bank of America News

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

• Positive Sentiment: BofA’s GovCon division is supporting financing for U.S. defense drone and robotics manufacturing, positioning the bank to earn lending, deposit and advisory revenue from a large share of federal contractors. This underscores franchise exposure to government-backed flows and potential higher-fee business. Advanced Manufacturing and Strategic Financing Solutions for Defense Drone and Robotics Production
• Positive Sentiment: Consumer/wealth-management momentum: Merrill had the largest number of advisors named on Forbes lists and BofA announced a community/wealth partnership with the Portland Thorns — positive for client retention, AUM growth and fee income. PORTLAND THORNS ANNOUNCE BANK OF AMERICA AS PARTNER
• Positive Sentiment: BofA Securities picked up corporate broking/coverage mandates (Plus500 named BofA Securities as joint corporate broker), which can add transaction and advisory revenue in markets and international origination. Plus500 adds BofA Securities as joint corporate broker
• Neutral Sentiment: Shareholders reaffirmed existing leadership and governance at the annual meeting — removes near-term governance uncertainty but is unlikely to move fundamentals materially. Bank of America Shareholders Back Leadership and Governance Status Quo
• Neutral Sentiment: Routine filings and corporate events (latest 10‑Q, BofA-hosted conferences and research calls) keep the bank visible to clients and the market but are maintenance items rather than catalysts. Bank of America Files Latest 10-Q
• Negative Sentiment: Rate uncertainty and a cautious outlook on markets have weighed on financials this week; analyst commentary and fund flows tied to interest-rate direction are pressuring BAC sentiment and valuation multiples. Bank of America Corporation (BAC) Falls as Rate Uncertainty Weighs on Financials
• Negative Sentiment: Consumer lending headwinds: HELOC and home-equity rates have spiked above 8%, which can slow originations and increase credit stress risk over time — a headwind for BofA’s consumer-loan growth and margins. HELOC, home equity rates spike higher
• Negative Sentiment: BofA has publicly warned about frothy market conditions — a defensive tone that can damp investor appetite for bank equities if volatility or a market pullback accelerates. Bank of America issues blunt warning to Wall Street on stock market

Bank of America Price Performance

BAC opened at $53.61 on Thursday. The stock's 50 day simple moving average is $50.39 and its 200 day simple moving average is $52.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a 1 year low of $40.86 and a 1 year high of $57.55. The firm has a market cap of $380.43 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.90 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period last year, the company earned $0.90 EPS. Bank of America's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts predict that Bank of America Corporation will post 4.46 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is presently 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.

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