Banque Cantonale Vaudoise Sells 163,837 Shares of Bank of America Corporation $BAC

Key Points

• Banque Cantonale Vaudoise cut its Bank of America stake by 47.7% in the first quarter, selling 163,837 shares and leaving it with 179,859 shares valued at about $8.77 million.
• Bank of America reported better-than-expected quarterly results, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion, up 10.7% from a year earlier.
• Wall Street sentiment remains positive overall, with analysts assigning BAC a Moderate Buy rating on average and a consensus price target of $61.23, while the stock recently traded near its 12-month high.

Banque Cantonale Vaudoise lowered its stake in Bank of America Corporation (NYSE:BAC) by 47.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,859 shares of the financial services provider's stock after selling 163,837 shares during the quarter. Banque Cantonale Vaudoise's holdings in Bank of America were worth $8,769,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Abound Financial LLC bought a new position in Bank of America in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the 3rd quarter valued at about $27,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. CrossGen Wealth LLC bought a new position in shares of Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management bought a new position in shares of Bank of America in the 4th quarter worth approximately $32,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAC. Jefferies Financial Group boosted their target price on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Evercore cut their price objective on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research report on Friday, May 15th. Finally, Autonomous Res reduced their price objective on Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $61.23.

Bank of America Trading Down 0.3%

Shares of NYSE:BAC opened at $57.73 on Thursday. The stock has a 50 day moving average of $53.19 and a 200 day moving average of $52.62. The company has a market cap of $409.71 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $58.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Bank of America's payout ratio is presently 27.72%.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s own research teams remained active on the bullish side of the market, including a raised price target on Micron and a higher target on Credicorp, which reinforces BAC’s influence in equity research and could support investor confidence in its capital markets franchise. Article Title
• Positive Sentiment: Bank of America also highlighted improving U.S. housing sentiment in its latest Homebuyer Insights Report, which could signal healthier consumer demand and stronger lending activity ahead. Article Title
• Positive Sentiment: The company announced a new community initiative with Street Child United tied to the 2026 World Cup, a brand-building move that may help BAC’s public image but is unlikely to move earnings by itself. Article Title
• Neutral Sentiment: Bank of America increased its stake in CA Immobilien to just over 4%, and disclosed another holding update in Qiagen; these are notable portfolio disclosures, but they are not directly tied to BAC’s operating results. Article Title
• Neutral Sentiment: Several articles focused on Bank of America’s macro outlook, including a more hawkish Fed forecast with three rate hikes in 2026 and commentary on consumer spending trends; these may matter for BAC’s lending margins and credit demand, but the implications are mixed. Article Title
• Negative Sentiment: The most market-sensitive macro call is BAC’s shift to a higher-rate forecast, which could increase pressure on borrowers and add uncertainty for the broader economy even if it helps net interest income. Article Title

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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