Mediolanum International Funds Ltd Sells 773,754 Shares of Bank of America Corporation $BAC

Key Points

• Mediolanum International Funds Ltd reduced its Bank of America stake by 52.4% in the first quarter, selling 773,754 shares and leaving it with 703,227 shares valued at about $33.2 million.
• Wall Street sentiment remains upbeat: analysts currently rate BAC a “Moderate Buy,” with 21 Buy ratings and a consensus price target of $63.77.
• Bank of America’s recent results were solid, as it beat quarterly EPS estimates and posted year-over-year revenue growth, while also continuing shareholder returns through a regular dividend.

Mediolanum International Funds Ltd cut its holdings in shares of Bank of America Corporation (NYSE:BAC) by 52.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 703,227 shares of the financial services provider's stock after selling 773,754 shares during the quarter. Mediolanum International Funds Ltd's holdings in Bank of America were worth $33,213,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its stake in shares of Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after purchasing an additional 1,603,080 shares during the period. Legal & General Group Plc raised its holdings in Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock valued at $2,497,655,000 after buying an additional 1,487,809 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Bank of America by 2.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider's stock valued at $159,794,000 after buying an additional 71,307 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in Bank of America by 34.3% during the 4th quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider's stock valued at $119,647,000 after buying an additional 555,063 shares during the period. Finally, Ritholtz Wealth Management boosted its position in Bank of America by 9.9% during the 4th quarter. Ritholtz Wealth Management now owns 231,018 shares of the financial services provider's stock valued at $12,706,000 after buying an additional 20,819 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of analyst reports. Autonomous Res decreased their price objective 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. Citigroup increased their target price on shares of Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price target on Bank of America from $57.50 to $62.50 and gave the company an "overweight" rating in a report on Monday, July 6th. Piper Sandler upped their price target on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Finally, Barclays increased their price objective on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.77.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

Bank of America Trading Down 0.5%

NYSE:BAC opened at $61.18 on Friday. The company has a 50-day moving average price of $55.30 and a 200-day moving average price of $53.15. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The stock has a market cap of $434.16 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $8.08 billion for the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. Bank of America's quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America's payout ratio is presently 25.69%.

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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