Bank of America Corporation $BAC Stake Trimmed by Capitolis Liquid Global Markets LLC

Key Points

• Capitolis Liquid Global Markets LLC trimmed its Bank of America stake by 0.7% in the fourth quarter, but it still held 12.4 million shares worth about $682.4 million, making BAC its seventh-largest holding.
• Bank of America recently reported better-than-expected quarterly results, with EPS of $1.11 versus $1.00 expected and revenue of $30.27 billion, up 10.7% year over year. It also announced a quarterly dividend of $0.28 per share, or $1.12 annually.
• Market sentiment remains broadly supportive, with BAC added to the Investor’s Business Daily Breakout Stocks Index and analysts maintaining a consensus Moderate Buy rating with an average target price of $61.06. However, some price-target cuts suggest valuation concerns after the stock’s strong run.

Capitolis Liquid Global Markets LLC reduced its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,406,855 shares of the financial services provider's stock after selling 89,381 shares during the period. Bank of America comprises 4.1% of Capitolis Liquid Global Markets LLC's investment portfolio, making the stock its 7th largest holding. Capitolis Liquid Global Markets LLC owned approximately 0.17% of Bank of America worth $682,377,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. DecisionMap Wealth Management LLC increased its stake in Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock worth $223,000 after buying an additional 182 shares during the period. Money Concepts Capital Corp increased its position in shares of Bank of America by 3.8% in the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 182 shares during the last quarter. Holistic Financial Partners increased its position in shares of Bank of America by 2.4% in the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 183 shares during the last quarter. Operose Advisors LLC increased its position in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. increased its position in shares of Bank of America by 1.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after purchasing an additional 187 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America was added to the Investor’s Business Daily Breakout Stocks Index and moved into a new buy zone, with the stock showing clear signs of investor demand. AI Strategy, Double-Digit Growth Put BofA Stock In Focus
• Positive Sentiment: Analysts and market coverage are highlighting BAC’s strong multi-year gains and continued appeal as a reasonably valued financial stock, which may be supporting sentiment despite the run-up in the share price. Bank of America (BAC) Stock After Strong Multi‑Year Gains Still Reasonably Priced?
• Positive Sentiment: Bank of America executives said AI could expand its dominance in municipal underwriting, reinforcing the bank’s technology-driven growth narrative and potential for higher fee income. BofA Exec Sees AI Expanding Its Domination of Muni Underwriting
• Positive Sentiment: A new Bank of America study found wealthy clients are facing more complex financial planning needs due to longer lifespans and faster wealth transfer, which could support demand for the bank’s private banking and wealth management services. BofA Study Finds Longevity and Accelerating Wealth Transfer Are Making Family Finances More Complex
• Neutral Sentiment: Bank of America’s latest investor survey pointed to resilient economic conditions and a higher equity overweight among fund managers, but this is more a read on market positioning than a direct earnings catalyst. Bank of America takes firm position on inflation, economy
• Neutral Sentiment: The company also renewed its partnership with the Kansas City Current, a positive branding move but not likely to have a material near-term impact on BAC shares. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Negative Sentiment: Analyst price-target moves were mixed, with some firms cutting estimates, suggesting the market still has some concerns about BAC’s valuation and earnings outlook after a strong rally. Bank of America (BAC) Stock Draws Fresh Price Target Split After Mixed Analyst Revisions

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company'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 owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company's stock.

Bank of America Trading Down 0.5%

Shares of Bank of America stock opened at $56.55 on Thursday. The company has a fifty day simple moving average of $52.70 and a 200-day simple moving average of $52.49. Bank of America Corporation has a 12-month low of $44.21 and a 12-month high of $57.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock has a market cap of $401.28 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.96 and a beta of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last issued 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 business had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

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

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $59.00 price objective on shares of Bank of America in a research report on Thursday, April 16th. Autonomous Res dropped their price objective on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Morgan Stanley dropped their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price objective on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Finally, Truist Financial increased 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 report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Bank of America Company 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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