Boston Partners Has $433 Million Stock Position in Bank of America Corporation $BAC

Key Points

• Boston Partners trimmed its Bank of America stake by 2.6% in the fourth quarter, but it still held 7.87 million shares valued at about $433 million.
• Bank of America reported solid quarterly results, with EPS of $1.11 beating estimates and revenue of $30.27 billion also topping expectations, helped by 10.7% year-over-year revenue growth.
• The bank continued returning capital to shareholders by declaring a quarterly dividend of $0.28 per share, while analysts maintained a mostly positive outlook with a consensus rating of “Moderate Buy.”

Boston Partners reduced its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,873,240 shares of the financial services provider's stock after selling 207,223 shares during the quarter. Boston Partners owned approximately 0.11% of Bank of America worth $432,996,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Legacy Bridge LLC boosted its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America during the third quarter worth approximately $27,000. Joseph Group Capital Management acquired a new stake in shares of Bank of America during the fourth quarter worth approximately $32,000. HFM Investment Advisors LLC lifted its stake in Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 532 shares during the last quarter. Finally, Coston McIsaac & Partners lifted its stake in Bank of America by 90.2% in the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 314 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America News Roundup

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time. Bank of America Corporation
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Morgan Stanley reduced their target price on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Erste Group Bank cut shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Finally, Oppenheimer lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a research note 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's stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and an average price target of $61.06.

Bank of America Stock Up 1.5%

Shares of NYSE:BAC opened at $55.96 on Friday. The company's fifty day moving average is $52.29 and its 200-day moving average is $52.41. The company has a market capitalization of $397.15 billion, a PE ratio of 13.85, a P/E/G ratio of 0.93 and a beta of 1.18. 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 Corporation has a 52 week low of $43.66 and a 52 week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities research analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared 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. 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 dividend payout ratio is 27.72%.

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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