Bank of America Corporation $BAC Shares Sold by Ruffer LLP

Key Points

• Ruffer LLP trimmed its Bank of America stake by 10.9% in Q4, selling 203,612 shares and retaining 1,668,030 shares worth about $91.9 million, making BAC its fourth-largest position (4.2% of holdings).
• Q1 earnings beat — Bank of America reported $1.11 EPS versus $1.00 expected and $30.27 billion in revenue versus $29.72 billion, prompting several broker target raises and a consensus "Moderate Buy" rating with an average price target of $60.90.
• Dividends and insider activity — The firm pays a $0.28 quarterly dividend (annualized $1.12, ~2.1% yield), while insiders sold roughly 227,832 shares over the past 90 days (insiders own 0.27% of the stock).

Ruffer LLP trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,668,030 shares of the financial services provider's stock after selling 203,612 shares during the period. Bank of America accounts for 4.2% of Ruffer LLP's holdings, making the stock its 4th largest position. Ruffer LLP's holdings in Bank of America were worth $91,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors increased its stake in Bank of America by 11.0% in 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 acquiring an additional 14,275,810 shares during the last quarter. Fisher Asset Management LLC increased its stake in Bank of America by 2.5% in 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 acquiring an additional 1,272,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% in 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 acquiring an additional 40,235,201 shares during the last quarter. Legal & General Group Plc increased its stake in Bank of America by 3.4% in 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 acquiring an additional 1,458,551 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Bank of America by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider's stock valued at $1,581,350,000 after acquiring an additional 640,462 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Performance

NYSE BAC opened at $53.43 on Wednesday. The firm's fifty day moving average price is $50.36 and its two-hundred day moving average price is $52.31. The stock has a market cap of $381.76 billion, a PE ratio of 13.22, a PEG ratio of 0.92 and a beta of 1.23. Bank of America Corporation has a fifty-two week low of $37.40 and a fifty-two week high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, equities analysts expect that Bank of America Corporation will post 4.44 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date of this dividend 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 currently 27.72%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAC. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. TD Cowen decreased their price objective on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. Truist Financial lifted their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, CICC Research assumed coverage on shares of Bank of America in a research note on Wednesday, January 14th. They set an "outperform" rating and a $62.00 target price on the stock. 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 an average rating of "Moderate Buy" and an average price target of $60.90.

Bank of America News Roundup

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

• Positive Sentiment: Analysts and commentary highlight BAC's AI-driven margin opportunity — coverage (summary of AI/phygital strategy that should lower costs, improve branch productivity and create new revenue levers) supports a constructive medium‑term earnings outlook. BAC's AI Edge Likely to Drive Margin Expansion: Should You Invest Now?
• Positive Sentiment: Several brokers raised BAC targets after its Q1 beat — Piper Sandler and Truist lifted targets (Piper Sandler to $59) following better-than-expected results, reinforcing analyst support for the stock. Piper Sandler, Truist Raise Bank of America (BAC) Targets After Q1 Beat
• Positive Sentiment: Oppenheimer and other outlets have recently nudged price targets higher and highlighted BAC as an attractive, value-oriented bank after the quarter — adds to buy-side conviction around dividend/earnings durability. Is Bank of America Corporation (BAC) One of the Best Cheap Stocks for Beginners to Invest in?
• Positive Sentiment: Commercial partnership expansion — BAC extended its long-running co‑brand card agreement with Alaska Air, which should support card revenue and rewards ecosystem growth. This is a steady revenue/profitability positive for consumer card operations. Alaska Air Group and Bank of America Expand Long-Standing Credit Card Partnership
• Neutral Sentiment: Corporate PR/visibility — BAC executives participated in a market open ceremony in Canada, a symbolic reminder of global footprint but with limited immediate financial impact. Bank of America Opens the Market
• Negative Sentiment: Internal strategist warning on market risk — BofA’s Sebastian Raedler cautioned that equity markets may be underestimating macro and geopolitical risks (a 20‑year low in risk premium), which can pressure bank multiples and prompt sectorwide profit‑taking. This comment likely contributes to near‑term selling pressure. BofA’s Raedler Warns Equity Markets Too Optimistic Amid 20-Year Low Risk Premium

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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