MUFG Securities EMEA plc Sells 90,011 Shares of Bank of America Corporation $BAC

Key Points

• MUFG Securities EMEA plc reduced its Bank of America stake by 23.7% in the fourth quarter, selling 90,011 shares and leaving it with 289,421 shares valued at about $15.9 million.
• Institutional activity around BAC was mixed, with some large investors increasing holdings sharply, while insiders also sold shares; insiders have sold 354,588 shares worth $17.8 million over the last 90 days.
• Bank of America reported better-than-expected quarterly results with $1.11 EPS and $30.27 billion in revenue, and it also announced a quarterly dividend of $0.28 per share, implying a 2.2% annual yield.

MUFG Securities EMEA plc cut its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 23.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,421 shares of the financial services provider's stock after selling 90,011 shares during the quarter. MUFG Securities EMEA plc's holdings in Bank of America were worth $15,918,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Bank of America in the fourth quarter valued at approximately $4,774,210,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after acquiring an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. increased its stake in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares during the last quarter. Capital World Investors increased its stake in Bank of America by 11.0% in the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock valued at $7,448,816,000 after acquiring an additional 14,275,810 shares during the last quarter. Finally, American Assets Investment Management LLC increased its stake in Bank of America by 1,248.5% in the fourth quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider's stock valued at $837,338,000 after acquiring an additional 14,095,375 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The shares were 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 of the company's stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,588 shares of company stock worth $17,814,296 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $51.56 on Friday. The firm has a market cap of $365.91 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The firm's fifty day moving average is $51.11 and its 200-day moving average is $52.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. Bank of America Corporation has a 52 week low of $43.36 and a 52 week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. Sell-side analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is currently 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s strong first-quarter results and guidance for roughly 15% year-over-year trading revenue growth are supporting the case for continued earnings momentum. Bank of America CEO flags massive Wall Street surge
• Positive Sentiment: Several commentators say BAC looks attractively valued after a sideways 2026, suggesting upside if earnings strength persists. Bank of America Could Be a Bargain After Strong Q1 Earnings
• Neutral Sentiment: Bank of America announced new arts funding in Canada and other community initiatives, which are positive for reputation but unlikely to move the stock materially. Bank of America Deepens Support for the Arts in Canada
• Neutral Sentiment: Coverage noting BAC’s recent underperformance versus the Nasdaq and bearish price action reflects the stock’s recent lag, though analysts still sound optimistic. Is Bank of America Stock Underperforming the Nasdaq?

Analysts Set New Price Targets

A number of research analysts recently issued reports on BAC shares. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Erste Group Bank cut shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.06.

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.

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