Natixis Advisors LLC Grows Stock Holdings in Bank of America Corporation $BAC

Key Points

• Natixis Advisors LLC increased its Bank of America stake by 3.9% in the fourth quarter, adding 272,571 shares to bring its total holding to 7.23 million shares worth about $397.7 million.
• Bank of America reported better-than-expected quarterly earnings, with EPS of $1.11 versus the $1.00 estimate and revenue of $30.27 billion, up 10.7% year over year.
• The bank also announced a quarterly dividend of $0.28 per share, implying a 2.2% annualized yield, while analysts remain broadly constructive with a consensus rating of Moderate Buy and an average price target of $61.06.

Natixis Advisors LLC boosted its holdings in Bank of America Corporation (NYSE:BAC) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,231,654 shares of the financial services provider's stock after buying an additional 272,571 shares during the period. Bank of America makes up 0.6% of Natixis Advisors LLC's investment portfolio, making the stock its 23rd biggest holding. Natixis Advisors LLC owned approximately 0.10% of Bank of America worth $397,741,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAC. Brighton Jones LLC grew its stake in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after buying an additional 6,174 shares in the last quarter. Jump Financial LLC grew its stake in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after buying an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Bank of America in the 2nd quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP grew its stake in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after buying an additional 355 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Bank of America news, insider James P. Demare sold 83,832 shares of the business's stock in a transaction dated 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 transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction dated 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 transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 354,588 shares of company stock worth $17,814,296 over the last ninety days. 0.27% of the stock is owned by insiders.

Bank of America Price Performance

BAC stock opened at $51.48 on Tuesday. The firm's 50-day moving average price is $51.20 and its two-hundred day moving average price is $52.30. Bank of America Corporation has a 12-month low of $43.36 and a 12-month high of $57.55. The stock has a market capitalization of $365.36 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.87 and a beta of 1.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion for the quarter, compared to analysts' expectations of $29.72 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities 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 disclosed 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. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America's payout ratio is presently 27.72%.

Bank of America News Summary

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

• Positive Sentiment: Analysts and commentators continue to highlight Bank of America’s earnings power, with recent pieces pointing to its strong deposit franchise, attractive valuation, and resilient near-term outlook. Bank of America's Deposit Franchise Is the Hidden Asset Investors Keep Missing
• Positive Sentiment: Reuters-referenced reports say BAC expects second-quarter trading revenue to rise about 15% year over year, helped by elevated market volatility and stronger trading activity, which could lift results. Bank of America (BAC) Expects Q2 Trading Revenue to Jump 15%, Reuters Reports
• Positive Sentiment: Another recent note said Bank of America’s CEO sounded constructive on the near-term outlook, including better full-year net interest income trends, reinforcing confidence in the bank’s core business. Is Bank of America (BAC) the Best Undervalued Financial Stock to Buy Now?
• Neutral Sentiment: Several items focused on Bank of America Securities research in unrelated markets such as Indian IT, Amazon’s satellite internet plans, and Nvidia’s AI platform; these reinforce BAC’s broader market intelligence franchise but are unlikely to move the stock on their own. AI will expand opportunities for Indian IT; luxury housing demand remains strong: BofA Securities
• Neutral Sentiment: Coverage saying Bank of America kept a neutral view on AST SpaceMobile was about another company and does not materially affect BAC’s fundamentals. Bank of America and New Street Research Maintain Neutral Stance on AST SpaceMobile (ASTS) Amid Launch Delays
• Neutral Sentiment: Articles on BofA-hosted investor forums in Asia and quant markets indicate active client engagement and asset-management relationships, but they are not direct stock catalysts. BofA Securities Asia Forum Gathers Global Investors Amid Surge in Hedge Funds Allocations

Analyst Upgrades and Downgrades

Several research analysts have commented on BAC shares. JPMorgan Chase & Co. cut their price target on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Morgan Stanley cut their price target on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Jefferies Financial Group raised their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Truist Financial lifted their price objective on shares of Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average price target of $61.06.

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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