Lbp Am Sa Reduces Position in Bank of America Corporation $BAC

Key Points

• LBP AM SA cut its stake in Bank of America by 59% in Q4, selling 207,501 shares and leaving 144,176 shares valued at about $7.93 million.
• Bank of America posted a strong Q1 with EPS $1.11 (vs. $1.00 expected) and $30.27 billion revenue, prompting multiple analyst price‑target raises and a consensus target near $60.90.
• Significant insider selling occurred recently—insiders sold 227,832 shares (~$11.09M) in the past three months—and the stock traded down about 1.4% despite the quarterly beat.

Lbp Am Sa decreased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 59.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 144,176 shares of the financial services provider's stock after selling 207,501 shares during the quarter. Lbp Am Sa's holdings in Bank of America were worth $7,930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wiser Advisor Group LLC bought a new position in Bank of America in the 3rd quarter valued at $27,000. Legacy Bridge LLC lifted its position 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 last quarter. Marquette Asset Management LLC purchased a new stake in shares of Bank of America during the third quarter valued at $30,000. Collier Financial bought a new position in shares of Bank of America in the third quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Bank of America in the third quarter worth about $31,000. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BAC shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. Autonomous Res reduced their target price on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday. Evercore boosted their price target on Bank of America from $55.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday. Finally, CICC Research started coverage on Bank of America in a report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 price objective on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned 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 target price of $60.90.

Bank of America News Summary

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

• Positive Sentiment: Record Q1 results — BAC posted EPS $1.11 and roughly $30.3B revenue, driven by a jump in equities trading, stronger net interest income and $8.6B net income; management highlighted resilient consumer activity and strong wealth flows. Bank of America Posts Monster Quarter, Best in Nearly Two Decades
• Positive Sentiment: Analyst re-ratings and price target increases — Multiple brokerages (Goldman, Jefferies, Evercore, Keefe, Argus, HSBC, RBC, Baird) raised price targets or reiterated outperform/buy calls after the beat, signaling upside revision to consensus. Goldman Sachs Raises Price Target on BAC
• Positive Sentiment: Street sees re‑rating potential — UBS and other analysts called the quarter “clean” and suggested BAC’s results and momentum could support multiple expansion. Bank of America's Q1 Results Could Support Re-Rating, UBS Says
• Positive Sentiment: Operational/strategic tailwinds — BofA rolled out an AI tool for its ~18,000 financial advisors and emphasized tech investments that could lift fee income and client retention. Bank of America’s 18,000 financial advisors just got a new AI tool
• Neutral Sentiment: Debt action — BofA announced redemption of €1.5B of senior notes due May 4, 2027; a straightforward liability management move with limited immediate credit impact but uses cash/ISS liquidity. Redemption of €1.5B Senior Notes
• Neutral Sentiment: Sector context — RBC and others noted strong capital‑markets performance industrywide in Q1, which helped BAC’s trading and IB fees but also concentrates earnings on volatile revenue streams. Big Banks Delivered Strong Capital Markets Performance in First Quarter, RBC Says
• Negative Sentiment: Macro/growth concerns — Recent BofA surveys show investors trimming growth expectations, a backdrop that can cap bank multiples if broader growth or risk appetite weakens. Investors slash growth views — BofA survey
• Negative Sentiment: Market reaction and volume — Despite the strong quarter and several price‑target raises, the stock decreased today, likely due to short‑term profit‑taking, lower-than-average volume and broader market/geopolitical noise that temporarily weighed on financials.

Insider Activity

In related news, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated 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 transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by company insiders.

Bank of America Trading Down 1.4%

NYSE:BAC opened at $53.53 on Friday. The firm has a 50-day simple moving average of $50.50 and a 200-day simple moving average of $52.24. Bank of America Corporation has a one year low of $36.49 and a one year high of $57.55. The firm has a market cap of $382.54 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.95 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.80 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. The firm 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 company's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.