Lincluden Management Ltd. Decreases Position in Bank of America Corporation $BAC

Key Points

• Lincluden Management Ltd. cut its stake in Bank of America by 8.6% in Q4, selling 11,867 shares to hold 126,604 shares worth $6.96 million, about 0.8% of its portfolio and its 29th largest holding.
• Bank of America beat Q1 estimates (EPS $1.11 vs $1.00; revenue $30.27B vs $29.72B), announced a $0.28 quarterly dividend (annualized $1.12, ~2.1% yield), and carries a consensus analyst rating of "Moderate Buy" with a $61.02 target.
• Insiders sold 227,832 shares (~$11.1M) in the past 90 days, while hedge funds and other institutions own roughly 70.7% of BAC shares.

Lincluden Management Ltd. cut its stake in Bank of America Corporation (NYSE:BAC) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,604 shares of the financial services provider's stock after selling 11,867 shares during the quarter. Bank of America makes up approximately 0.8% of Lincluden Management Ltd.'s portfolio, making the stock its 29th largest holding. Lincluden Management Ltd.'s holdings in Bank of America were worth $6,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DecisionMap Wealth Management LLC lifted its stake in Bank of America by 4.7% in the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after buying an additional 182 shares in the last quarter. Holistic Financial Partners lifted its stake in Bank of America by 2.4% in the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after buying an additional 183 shares in the last quarter. Riverview Capital Advisers LLC lifted its stake in Bank of America by 4.2% in the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock valued at $242,000 after buying an additional 188 shares in the last quarter. Shepherd Financial Partners LLC raised its holdings in Bank of America by 0.3% in the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock valued at $3,110,000 after acquiring an additional 189 shares during the last quarter. Finally, William B. Walkup & Associates Inc. raised its holdings in Bank of America by 1.4% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock valued at $723,000 after acquiring an additional 192 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $52.69 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $376.51 billion, a P/E ratio of 13.04, a PEG ratio of 0.89 and a beta of 1.23. The company has a 50 day moving average price of $50.33 and a 200 day moving average price of $52.41. Bank of America Corporation has a fifty-two week low of $38.81 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. Equities research analysts forecast that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

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

Insider Buying and Selling at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider owned 307,240 shares of the company's stock, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's 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 $7,988,436.96. This represents a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last 90 days. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BAC shares. Wolfe Research downgraded shares of Bank of America from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 7th. Evercore increased their price objective on shares of Bank of America from $55.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Robert W. Baird increased their price objective on shares of Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Daiwa Securities Group increased 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. Finally, Wells Fargo & Company increased their price objective on shares of Bank of America from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.02.

Key Bank of America News

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

• Positive Sentiment: Daiwa Securities raised its price target on BAC to $61 and kept an "Overweight" rating, signaling a roughly mid-teens upside from current levels and prompting buy-side interest. Daiwa raises PT to $61
• Positive Sentiment: Bank of America’s recent Q1 results (EPS $1.11 vs. $1.00 est.; revenue $30.27B vs. $29.72B est.) continue to underpin optimism about loan growth, trading revenue and profitability — a core reason analysts are upgrading and defending higher valuations. (Company Q1 release / consensus data)
• Positive Sentiment: Macro/sector write-ups picked BAC as a beneficiary of a solid Q1 and improved outlook for investment banks — Zacks included BAC among investment-bank picks after strong results. That reinforces momentum among institutional investors. Zacks: Buy these banks
• Positive Sentiment: Chart-of-the-day pieces highlighting Bank of America’s flagship “sleep like a baby” portfolio performing extremely well this year bolster confidence in management’s asset allocation and fee income prospects. Yahoo: Chart of the Day
• Neutral Sentiment: Coverage pieces assessing whether Wall Street is broadly bullish on BAC provide mixed takes — many analysts are constructive but some call BAC fairly valued at current multiples, leaving room for consolidation. MSN: Are analysts bullish?
• Neutral Sentiment: Analyst and market-commentary roundups (e.g., Kalkine) highlight valuation, buybacks, and rate-sensitivity as the main drivers — these are longer-term fundamental considerations rather than immediate catalysts. Kalkine: What's driving attention
• Neutral Sentiment: Trade/structural ideas tied to BAC’s preferreds and capital structure are circulating among traders (pair-trade ideas), which may boost liquidity in derivative/preferred markets but have limited immediate impact on common shares. Seeking Alpha: Preferreds pair trade
• Negative Sentiment: News that Berkshire Hathaway's new leadership is reshuffling large positions (article about Greg Abel trimming a former top holding) has stoked concern about institutional selling patterns; if major holders reduce stakes, that can temporarily pressure BAC or banking peers. Fool: Berkshire holdings update

Bank of America 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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