Savant Capital LLC Lowers Position in Bank of America Corporation $BAC

Key Points

• Savant Capital LLC reduced its Bank of America stake by 27.3% in the fourth quarter, selling 91,655 shares and leaving it with 243,981 shares worth about $13.4 million.
• Several large institutional investors have been active in BAC, with firms like Vanguard, UBS AM, and Capital World Investors increasing positions; overall, hedge funds and other institutions own 70.71% of the stock.
• Bank of America reported strong first-quarter results, beating earnings and revenue estimates, and also declared a quarterly dividend of $0.28 per share, implying a 2.2% annual yield.

Savant Capital LLC cut its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,981 shares of the financial services provider's stock after selling 91,655 shares during the period. Savant Capital LLC's holdings in Bank of America were worth $13,419,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank of America by 640.5% during 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 purchasing an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bank of America by 3.7% during 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 in the last quarter. Capital World Investors increased its position in shares of Bank of America by 11.0% during 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 in the last quarter. American Assets Investment Management LLC grew its position in Bank of America by 1,248.5% in the 4th quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider's stock worth $837,338,000 after purchasing an additional 14,095,375 shares during the period. Finally, Danske Bank A S bought a new stake in Bank of America in the 3rd quarter worth approximately $224,863,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the 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 transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 354,588 shares of company stock valued at $17,814,296 in the last ninety days. Company insiders own 0.27% of the company's stock.

Bank of America News Roundup

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?

Bank of America Stock 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 0.86 and a beta of 1.21. The firm's 50 day simple moving average is $51.11 and its 200-day simple moving average is $52.32. Bank of America Corporation has a one year low of $43.36 and a one year high of $57.55. 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 (NYSE:BAC - Get Free Report) last issued its 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 business 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%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The firm 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 dividend of $0.28 per share. 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 dividend payout ratio (DPR) is currently 27.72%.

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Piper Sandler boosted 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 report on Thursday, April 16th. The Goldman Sachs Group upped their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Autonomous Res dropped their price objective on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Truist Financial increased their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group increased 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. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.06.

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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