Brandes Investment Partners LP Sells 604,823 Shares of Bank of America Corporation $BAC

Key Points

• Brandes Investment Partners LP reduced its Bank of America stake by 12.1% in the fourth quarter, selling 604,823 shares and leaving it with 4.39 million shares valued at about $241.2 million.
• Wall Street remains broadly positive on BAC: analysts currently have a consensus Moderate Buy rating, with an average price target of $61.06 and multiple firms raising or maintaining bullish targets.
• Bank of America beat quarterly expectations, reporting $1.11 EPS on revenue of $30.27 billion, and it also announced a quarterly dividend of $0.28 per share, implying a 2.1% annual yield.

Brandes Investment Partners LP cut its holdings in shares of Bank of America Corporation (NYSE:BAC) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,386,202 shares of the financial services provider's stock after selling 604,823 shares during the quarter. Bank of America makes up 1.8% of Brandes Investment Partners LP's portfolio, making the stock its 11th largest position. Brandes Investment Partners LP owned about 0.06% of Bank of America worth $241,241,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BAC shares. Royal Bank Of Canada restated an "outperform" rating and set a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price target on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods upped their price target on shares of Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Argus upped their price target on shares of Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Finally, UBS Group upped their price target on shares of Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.06.

Bank of America Stock Performance

Shares of Bank of America stock opened at $54.36 on Wednesday. The company has a 50 day moving average of $51.88 and a 200-day moving average of $52.34. Bank of America Corporation has a 1-year low of $43.66 and a 1-year high of $57.55. 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 company has a market cap of $385.75 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.91 and a beta of 1.18.

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 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 company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America said demand is rising for AI-led treasury, FX, trade and payments solutions in Asia Pacific, highlighting stronger client interest in higher-value digital banking services that could support fee growth. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Positive Sentiment: Co-President Jim DeMare said Bank of America’s trading revenue could exceed the firm’s 15% growth outlook for the second quarter, driven by strength in equities trading. Bank of America could exceed 15% market revenue growth in Q2
• Positive Sentiment: Bank of America also unveiled new payment initiatives, including a cross-border real-time payments service and participation in a tokenized deposit network, which reinforce its push into modern digital finance. Bank of America's Real-Time Payments and Tokenized Deposits Push Could Be A Game Changer For BAC
• Positive Sentiment: The company is also using high-profile brand activity, including FIFA World Cup 2026 fan promotions, to boost visibility and consumer engagement. BofA Kicks Off FIFA World Cup 2026™ With 2 Million Free Fan Bands and Fan Experiences Nationwide
• Neutral Sentiment: Several headlines focused on Bank of America’s market commentary, including warnings about recession risk and “bear market signposts,” which may reflect a cautious macro view but do not directly change BAC’s operating results. BofA warns investors to take profits as 70% of the bank's bear market signals flash red

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

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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