Amundi Lowers Holdings in Bank of America Corporation $BAC

Amundi trimmed its stake in shares of Bank of America Corporation (NYSE:BAC) by 13.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,615,958 shares of the financial services provider's stock after selling 5,769,157 shares during the period. Amundi owned about 0.52% of Bank of America worth $2,086,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America during the 2nd quarter valued at approximately $25,000. Abound Financial LLC acquired a new stake in Bank of America during the fourth quarter valued at $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America during the third quarter valued at $27,000. CrossGen Wealth LLC purchased a new position in Bank of America in the fourth quarter valued at $30,000. Finally, Frazier Financial Advisors LLC purchased a new position in Bank of America in the second quarter valued at $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America's New Warning Should Concern Stock Investors

Bank of America Stock Performance

BAC opened at $62.64 on Monday. The firm's fifty day simple moving average is $61.64 and its two-hundred day simple moving average is $55.22. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a market cap of $438.03 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.00 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The company's quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America's payout ratio is currently 29.36%.

Analysts Set New Price Targets

A number of research analysts have weighed in on BAC shares. Barclays upped their price objective on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Truist Financial lifted their price target on Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada upped their price target on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Morgan Stanley increased their price target on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Finally, UBS Group raised their price objective on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of America has an average rating of "Moderate Buy" and a consensus price target of $64.08.

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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