Bank of America Corporation $BAC Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,402,686 shares of the financial services provider's stock after selling 700,281 shares during the period. Bank of America accounts for about 1.5% of UniSuper Management Pty Ltd's portfolio, making the stock its 12th largest position. UniSuper Management Pty Ltd owned about 0.06% of Bank of America worth $242,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BAC. Handelsbanken Fonder AB lifted its stake in Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after acquiring an additional 1,603,080 shares during the period. Mufg Securities Americas Inc. lifted its stake in Bank of America by 26.6% during the 3rd quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider's stock valued at $10,262,000 after acquiring an additional 41,809 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its stake in Bank of America by 11.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider's stock valued at $34,974,000 after acquiring an additional 68,093 shares during the period. Constant Guidance Financial LLC lifted its stake in Bank of America by 603.4% during the 3rd quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider's stock valued at $1,253,000 after acquiring an additional 20,831 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Bank of America during the 3rd quarter valued at approximately $27,629,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Wall Street Zen upgraded shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. 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. Daiwa Securities Group lifted their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Finally, Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average price target of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America launched new client offerings, including pay-over-time tools, an expanded rewards program, and credit monitoring features, which could support card usage, customer retention, and fee revenue. Bank of America Introduces New Ways to Reward Clients, Manage Payments and Track Credit
• Positive Sentiment: The bank is planning real-time global payments through Swift and CashPro, a move that could boost fee income and strengthen client relationships over time. BAC Plans to Launch Real-Time Global Payments: A Fee Revenue Catalyst?
• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Bank of America NYSE: BAC, suggesting more confidence in the company’s longer-term earnings outlook. Bank of America Corporation - Free Report
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, trade, and FX solutions in Asia-Pacific, reinforcing a constructive outlook for its global payments and transaction banking business. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Neutral Sentiment: Bank of America declared preferred stock dividends for multiple series, a routine capital-return update that is not likely to materially move the common stock. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Neutral Sentiment: Several articles referenced Bank of America’s market-timing and stock-market warning indicators, which may reflect caution on broader equities rather than a direct operational issue for BAC. Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
• Negative Sentiment: The Justice Department’s subpoena probe into alleged “debanking,” which includes Bank of America, adds regulatory overhang and could create headlines risk for the shares. US Justice Department subpoenas major banks over alleged 'debanking', WSJ reports

Bank of America Stock Performance

BAC opened at $55.17 on Friday. 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 firm has a fifty day moving average price of $52.16 and a 200 day moving average price of $52.39. Bank of America Corporation has a 1 year low of $43.66 and a 1 year high of $57.55. The stock has a market cap of $391.48 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.92 and a beta of 1.18.

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 (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same period in the previous year, the business posted $0.90 EPS. The business's revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America's payout ratio is currently 27.72%.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were 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 directly owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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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