LSV Asset Management Has $347.03 Million Stock Holdings in Bank of America Corporation $BAC

Key Points

• LSV Asset Management reduced its Bank of America stake by 4.4% in the fourth quarter, though it still held 6.31 million shares worth about $347 million and made BAC its 29th-largest position.
• Analysts remain largely positive on BAC, with a consensus rating of “Moderate Buy” and an average price target of $61.06. Recent calls included higher targets from Jefferies, UBS, Daiwa, and RBC, though CFRA downgraded the stock to Hold.
• Bank of America reported solid quarterly results, beating EPS and revenue expectations with $1.11 EPS and $30.27 billion in revenue. The company also announced a $0.28 quarterly dividend, equal to a 2.2% annualized yield.

LSV Asset Management trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,309,666 shares of the financial services provider's stock after selling 290,200 shares during the quarter. Bank of America comprises about 0.8% of LSV Asset Management's portfolio, making the stock its 29th biggest position. LSV Asset Management owned approximately 0.09% of Bank of America worth $347,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Bridge LLC lifted its stake in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 330 shares during the period. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at about $27,000. Collier Financial acquired a new position in shares of Bank of America in the 3rd quarter valued at about $30,000. Joseph Group Capital Management acquired a new position in shares of Bank of America in the 4th quarter valued at about $32,000. Finally, HFM Investment Advisors LLC lifted its stake in shares of Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 532 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on BAC shares. Jefferies Financial Group upped their price target on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Autonomous Res dropped their price target on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. UBS Group upped their price target on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $59.00 price target on shares of Bank of America in a research note on Thursday, April 16th. 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 presently has a consensus rating of "Moderate Buy" and an average price target of $61.06.

Bank of America Stock Performance

Shares of Bank of America stock opened at $51.81 on Friday. The company has a market cap of $367.64 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 52 week low of $42.35 and a 52 week high of $57.55. The business has a 50 day moving average price of $50.65 and a 200-day moving average price of $52.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. Equities analysts anticipate that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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. 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 dividend 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 hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Insider Buying and Selling

In other news, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares of the company's stock, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 354,588 shares of company stock valued at $17,814,296. 0.27% of the stock is owned by company insiders.

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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