Americana Partners LLC Sells 15,112 Shares of Bank of America Corporation $BAC

Key Points

• Americana Partners LLC reduced its Bank of America stake by 23.1% in the fourth quarter, selling 15,112 shares and leaving it with 50,287 shares worth about $2.77 million.
• Bank of America continues to see significant institutional ownership and active hedge fund buying, with firms like Vanguard and Capital World Investors adding to positions. Overall, institutional investors hold about 70.71% of the stock.
• The company reported better-than-expected quarterly results, with EPS of $1.11 on revenue of $30.27 billion, and it also declared a quarterly dividend of $0.28 per share payable on June 26.

Americana Partners LLC cut its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,287 shares of the financial services provider's stock after selling 15,112 shares during the quarter. Americana Partners LLC's holdings in Bank of America were worth $2,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after purchasing an additional 23,351,183 shares in the last quarter. Capital World Investors boosted its position in shares of Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock valued at $7,448,816,000 after purchasing an additional 14,275,810 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Bank of America by 2.5% during the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider's stock valued at $2,717,657,000 after purchasing an additional 1,272,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Bank of America by 3.4% during the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider's stock valued at $2,266,045,000 after purchasing an additional 1,458,551 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business's 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 completion of the transaction, the insider owned 1,373,397 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the business's stock in a transaction 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 transaction, the insider owned 227,973 shares of the company's stock, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 354,588 shares of company stock worth $17,814,296 over the last three months. Company insiders own 0.27% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Bank of America Stock Up 0.6%

BAC stock opened at $51.81 on Friday. Bank of America Corporation has a 1-year low of $42.35 and a 1-year high of $57.55. The business has a fifty day moving average price of $50.65 and a 200-day moving average price of $52.38. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $367.64 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.88 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 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 firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. Bank of America's payout ratio is currently 27.72%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price target on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research report on Friday, April 24th. Jefferies Financial Group lifted their price objective on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Argus lifted their price objective on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, Daiwa Securities Group lifted their price objective on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $61.06.

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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