Handelsbanken Fonder AB Sells 69,510 Shares of Bank of America Corporation $BAC

Key Points

• Handelsbanken Fonder AB reduced its Bank of America stake by 69,510 shares, or 1.5%, leaving it with 4.53 million shares valued at approximately $258.1 million.
• Analysts remain generally positive, with 21 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $64.08.
• Bank of America raised its quarterly dividend to $0.32 per share, equivalent to $1.28 annually and a 2.0% yield; BAC recently traded at $63.74, near its 52-week high of $64.00.

Handelsbanken Fonder AB trimmed its position in Bank of America Corporation (NYSE:BAC - Free Report) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,529,611 shares of the financial services provider's stock after selling 69,510 shares during the quarter. Bank of America accounts for 0.7% of Handelsbanken Fonder AB's holdings, making the stock its 23rd biggest holding. Handelsbanken Fonder AB owned 0.06% of Bank of America worth $258,097,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BAC. Abound Financial LLC bought a new stake in shares of Bank of America in the fourth quarter valued at about $26,000. Legacy Bridge LLC increased its position in 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 acquiring an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new stake in Bank of America in the 3rd quarter worth about $27,000. CrossGen Wealth LLC bought a new stake in Bank of America in the 4th quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America in the 4th quarter valued at about $32,000. Institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Citigroup increased their price target on Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, UBS Group lifted their price objective on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Price Performance

BAC stock opened at $63.74 on Tuesday. The company has a 50 day simple moving average of $58.88 and a 200 day simple moving average of $53.97. The stock has a market cap of $445.72 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.01 and a beta of 1.17. Bank of America Corporation has a 1 year low of $45.81 and a 1 year high of $64.00. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio (DPR) is currently 25.69%.

Bank of America News Summary

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

• Positive Sentiment: Bank of America received an average “Moderate Buy” rating from brokerages, reinforcing generally constructive analyst sentiment toward BAC. Bank of America Corporation Given Average Rating of Moderate Buy by Brokerages
• Positive Sentiment: Broad S&P 500 earnings momentum remains favorable, with approximately 80% of reporting companies posting year-over-year earnings-per-share growth. A healthy corporate backdrop could support investment banking, lending and markets activity for Bank of America. Corporate earnings soared in Q2, with AI as the growth engine
• Positive Sentiment: BofA analyst Vivek Arya reiterated Nvidia as a top semiconductor pick and assigned a $350 price target, citing a potential upgrade cycle tied to Nvidia’s Rubin platform. The call highlights Bank of America’s research visibility and continued exposure to technology investment banking and markets activity. Nvidia Stock’s Rubin Era Begins: A Top Pick, BofA Says
• Neutral Sentiment: Bank of America disclosed that a wholly controlled subsidiary increased its indirect stake in Turkey’s Alves Kablo to 5.2%. The transaction demonstrates investment activity but was not accompanied by details suggesting a material effect on BAC’s results. Bank of America Raises Indirect Stake in Alves Kablo to 5.2%
• Neutral Sentiment: Bank of America increased its IREN stake by 58% in the first quarter. The investment may provide exposure to data-center and artificial-intelligence infrastructure growth, but IREN’s high valuation and recent earnings miss make the position a relatively small, higher-risk factor for BAC investors. IREN Stock: Bank of America Boosts Holdings 58%
• Neutral Sentiment: Bank of America announced a $50,000 grant supporting mentoring, workforce development and career pathways in New Jersey. The initiative strengthens the bank’s community profile but has no meaningful near-term earnings impact. Bank of America Expands Partnership With Big Brothers Big Sisters
• Negative Sentiment: Commentary questioning whether AI spending is slowing raises a risk for technology-heavy markets and could pressure investor sentiment toward AI-linked investments. The concern is indirect for BAC, but weaker market valuations could affect trading and investment-banking activity. AI Spending is Slowing Down: How Will the S&P 500 React?

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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