Eurizon Capital SGR S.p.A. Makes New Investment in Bank of America Corporation $BAC

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Bank of America, buying 6,745,788 shares worth about $371.5 million in the fourth quarter. The stake represents roughly 1.2% of the firm’s portfolio and makes BAC its 12th-largest holding.
• Bank of America’s latest quarter beat expectations, with EPS of $1.11 versus the $1.00 consensus and revenue of $30.27 billion versus estimates of $29.72 billion. Revenue rose 10.7% year over year, and analysts now expect $4.45 EPS for the current fiscal year.
• Wall Street remains generally positive on BAC, with 22 Buy ratings and 5 Hold ratings, giving it an average “Moderate Buy” rating and target price of about $61.06. The stock was trading around $51.56, and the company also announced a quarterly dividend of $0.28 per share.

Eurizon Capital SGR S.p.A. acquired a new position in Bank of America Corporation (NYSE:BAC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,745,788 shares of the financial services provider's stock, valued at approximately $371,467,000. Bank of America makes up approximately 1.2% of Eurizon Capital SGR S.p.A.'s investment portfolio, making the stock its 12th biggest position. Eurizon Capital SGR S.p.A. owned 0.09% of Bank of America at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. raised its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares in the last quarter. Capital World Investors raised its stake in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares in the last quarter. American Assets Investment Management LLC raised its stake in Bank of America by 1,248.5% in the 4th quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider's stock worth $837,338,000 after purchasing an additional 14,095,375 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Bank of America in the 3rd quarter worth about $224,863,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BAC. Argus lifted their price objective on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Evercore decreased their target price on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Piper Sandler raised their target price on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Erste Group Bank lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.06.

Bank of America Trading Up 1.6%

Shares of Bank of America stock opened at $51.56 on Friday. The firm has a market capitalization of $365.91 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. 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 firm's 50 day moving average is $51.11 and its 200 day moving average is $52.32. Bank of America Corporation has a 1 year low of $43.36 and a 1 year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly 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. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates 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 revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. Bank of America's payout ratio is 27.72%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares of the company's stock, valued at approximately $15,362,000. The trade was a 21.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America 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 sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company's stock.

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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