World Investment Advisors Sells 47,359 Shares of Bank of America Corporation $BAC

Key Points

• World Investment Advisors cut its Bank of America stake by 19.4% in the first quarter, selling 47,359 shares and leaving it with 196,832 shares worth about $9.6 million.
• Wall Street sentiment remains mostly positive, with 21 analysts rating BAC a Buy and six a Hold; the consensus is a “Moderate Buy” with an average price target of $61.60.
• Bank of America reported solid quarterly results, beating EPS and revenue estimates, while also paying a quarterly dividend of $0.28 per share, which implies a 1.9% annual yield.

World Investment Advisors lessened its stake in Bank of America Corporation (NYSE:BAC) by 19.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,832 shares of the financial services provider's stock after selling 47,359 shares during the quarter. World Investment Advisors' holdings in Bank of America were worth $9,596,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America in the 3rd quarter valued at about $27,000. Legacy Bridge LLC grew its holdings in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the period. CrossGen Wealth LLC acquired a new position in Bank of America during the fourth quarter worth approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America in the fourth quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BAC. UBS Group increased their price target on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Morgan Stanley lifted their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, June 29th. Daiwa Securities Group upped their target price 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. Evercore dropped their price target on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Finally, Oppenheimer downgraded Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Bank of America has an average rating of "Moderate Buy" and an average price target of $61.60.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America 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 transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Bank of America Stock Performance

Shares of Bank of America stock opened at $58.67 on Friday. The stock has a market cap of $416.35 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $59.19. The company's fifty day moving average is $53.82 and its 200 day moving average is $52.82. 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 announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Sell-side analysts forecast that Bank of America Corporation will post 4.49 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 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 analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

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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