Gateway Investment Advisers LLC Lowers Holdings in Bank of America Corporation $BAC

Key Points

• Gateway Investment Advisers LLC trimmed its stake in Bank of America by 5.1% in Q4, selling 88,654 shares and now holds 1,647,039 shares worth $90,587,000, making BAC its 19th largest holding (about 0.8% of the firm's portfolio).
• Bank of America beat quarterly expectations with EPS of $1.11 vs. $1.00 and revenue of $30.27B (+10.7% YoY), and announced a quarterly dividend of $0.28 (annualized $1.12, ~2.1% yield).
• Insiders have been net sellers, including Thomas M. Scrivener (50,000 shares) and Bernard A. Mensah (94,000 shares); insiders sold a total of 227,832 shares (~$11.09M) over the last 90 days and now own 0.27% of the company.

Gateway Investment Advisers LLC trimmed its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,647,039 shares of the financial services provider's stock after selling 88,654 shares during the period. Bank of America makes up about 0.8% of Gateway Investment Advisers LLC's holdings, making the stock its 19th largest holding. Gateway Investment Advisers LLC's holdings in Bank of America were worth $90,587,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BAC. DecisionMap Wealth Management LLC lifted its stake in Bank of America by 4.7% during the fourth 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 in the last quarter. Holistic Financial Partners lifted its stake in Bank of America by 2.4% during the fourth 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 in the last quarter. Riverview Capital Advisers LLC lifted its stake in Bank of America by 4.2% during the third quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after purchasing an additional 188 shares in the last quarter. Shepherd Financial Partners LLC lifted its stake in Bank of America by 0.3% during the third quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock worth $3,110,000 after purchasing an additional 189 shares in the last quarter. Finally, William B. Walkup & Associates Inc. lifted its stake in Bank of America by 1.4% during the third quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock worth $723,000 after purchasing an additional 192 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the sale, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Up 0.9%

Shares of NYSE BAC opened at $53.61 on Thursday. The stock has a market cap of $380.43 billion, a P/E ratio of 13.27, a PEG ratio of 0.90 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. Bank of America Corporation has a 12-month low of $40.86 and a 12-month high of $57.55. The business's fifty day simple moving average is $50.39 and its 200-day simple moving average is $52.50.

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, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts predict that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is presently 27.72%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird upped their price target on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. TD Cowen dropped their price objective on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, January 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Daiwa Securities Group lifted their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Finally, Argus lifted their price objective on shares of Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.02.

Bank of America News Roundup

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

• Positive Sentiment: BofA’s GovCon division is supporting financing for U.S. defense drone and robotics manufacturing, positioning the bank to earn lending, deposit and advisory revenue from a large share of federal contractors. This underscores franchise exposure to government-backed flows and potential higher-fee business. Advanced Manufacturing and Strategic Financing Solutions for Defense Drone and Robotics Production
• Positive Sentiment: Consumer/wealth-management momentum: Merrill had the largest number of advisors named on Forbes lists and BofA announced a community/wealth partnership with the Portland Thorns — positive for client retention, AUM growth and fee income. PORTLAND THORNS ANNOUNCE BANK OF AMERICA AS PARTNER
• Positive Sentiment: BofA Securities picked up corporate broking/coverage mandates (Plus500 named BofA Securities as joint corporate broker), which can add transaction and advisory revenue in markets and international origination. Plus500 adds BofA Securities as joint corporate broker
• Neutral Sentiment: Shareholders reaffirmed existing leadership and governance at the annual meeting — removes near-term governance uncertainty but is unlikely to move fundamentals materially. Bank of America Shareholders Back Leadership and Governance Status Quo
• Neutral Sentiment: Routine filings and corporate events (latest 10‑Q, BofA-hosted conferences and research calls) keep the bank visible to clients and the market but are maintenance items rather than catalysts. Bank of America Files Latest 10-Q
• Negative Sentiment: Rate uncertainty and a cautious outlook on markets have weighed on financials this week; analyst commentary and fund flows tied to interest-rate direction are pressuring BAC sentiment and valuation multiples. Bank of America Corporation (BAC) Falls as Rate Uncertainty Weighs on Financials
• Negative Sentiment: Consumer lending headwinds: HELOC and home-equity rates have spiked above 8%, which can slow originations and increase credit stress risk over time — a headwind for BofA’s consumer-loan growth and margins. HELOC, home equity rates spike higher
• Negative Sentiment: BofA has publicly warned about frothy market conditions — a defensive tone that can damp investor appetite for bank equities if volatility or a market pullback accelerates. Bank of America issues blunt warning to Wall Street on stock market

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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