Bank of America Corporation $BAC Shares Bought by Exane Asset Management

Key Points

• Exane Asset Management dramatically increased its stake in Bank of America by 16,175.1% in Q4, buying an additional 824,929 shares to hold 830,029 shares (about $45.65M), which represents roughly 10.5% of Exane’s portfolio and is its second-largest holding.
• Bank of America beat Q1 expectations with adjusted EPS of $1.11 (vs. $1.00 consensus) and revenue of $30.27B (up 10.7% YoY), prompting multiple analyst upgrades and higher price targets that have lifted investor sentiment.
• Insiders have been net sellers recently—most notably Bernard A. Mensah sold 94,000 shares and Thomas M. Scrivener sold 50,000 shares—and insiders now own just 0.27% of the company, while institutional investors hold about 70.7% of the stock.

Exane Asset Management raised its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 16,175.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 830,029 shares of the financial services provider's stock after buying an additional 824,929 shares during the period. Bank of America comprises about 10.5% of Exane Asset Management's investment portfolio, making the stock its 2nd biggest holding. Exane Asset Management's holdings in Bank of America were worth $45,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BAC. Permanent Capital Management LP acquired a new stake in shares of Bank of America in the 3rd quarter valued at $649,000. Meridian Wealth Management LLC lifted its stake in shares of Bank of America by 54.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider's stock valued at $3,008,000 after purchasing an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. lifted its stake in shares of Bank of America by 15.9% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider's stock valued at $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. lifted its stake in shares of Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider's stock valued at $3,779,000 after purchasing an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at $482,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Q1 results beat expectations: BAC reported a “monster” quarter with revenue up ~7% and adjusted EPS $1.11, above consensus, driven by broad-based growth and strong capital markets performance — the core reason investors bid the stock up. Bank of America Posts Monster Quarter
• Positive Sentiment: Multiple analysts raised price targets/ratings after the beat (Goldman, Jefferies, Evercore, Argus, Keefe Bruyette & Woods, HSBC, RBC and others), lifting sentiment and providing technical catalyst for further buying. Goldman Sachs raises price target
• Positive Sentiment: KBW reiterated/initiated a Buy (outperform) on BAC, adding institutional endorsement that can attract fund flows. KBW Buy on BAC
• Positive Sentiment: Strategic win: Bank of America rolled out an AI tool for its ~18,000 financial advisors — a sign management is investing in scalable, fee‑generating capabilities that can improve retention and cross‑sell over time. AI tool for advisers
• Neutral Sentiment: Capital/ liability management: BAC announced the redemption of €1.5B of senior notes due 2027 (to be redeemed May 4) — shows active maturity management but will use capital; impact depends on funding and rates. Redemption of senior notes
• Neutral Sentiment: Preferred dividends declared for multiple series with upcoming record/payment dates — routine corporate action that matters to preferred holders but is not a surprise for common equity investors. Preferred dividends declared

Insider Transactions at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by company insiders.

Bank of America Trading Up 0.0%

Bank of America stock opened at $53.92 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50-day simple moving average is $50.45 and its 200-day simple moving average is $52.27. The firm has a market capitalization of $385.31 billion, a PE ratio of 13.35, a PEG ratio of 0.92 and a beta of 1.23. Bank of America Corporation has a 52 week low of $36.49 and a 52 week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $0.90 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America's payout ratio is presently 27.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAC shares. Wolfe Research lowered shares of Bank of America from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 7th. TD Cowen dropped their target price on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, January 15th. Argus lifted their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial lifted their target price on shares of Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.90.

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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