Mondrian Investment Partners LTD raised its holdings in shares of Bank of America Corporation (NYSE:BAC) by 34.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,175,401 shares of the financial services provider’s stock after acquiring an additional 555,063 shares during the period. Bank of America makes up 1.9% of Mondrian Investment Partners LTD’s holdings, making the stock its 24th largest position. Mondrian Investment Partners LTD’s holdings in Bank of America were worth $119,647,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. DecisionMap Wealth Management LLC raised its position in shares of Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 182 shares during the last quarter. Money Concepts Capital Corp raised its holdings in Bank of America by 3.8% in the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 182 shares during the period. Holistic Financial Partners raised its holdings in Bank of America by 2.4% in the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 183 shares during the period. Asahi Life Asset Management CO. LTD. raised its holdings in Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 187 shares during the period. Finally, Riverview Capital Advisers LLC raised its holdings in Bank of America by 4.2% in the third quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 188 shares during the period. Institutional investors own 70.71% of the company’s stock.
Trending Headlines about Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
- Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
- Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
- Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
- Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold
Bank of America Stock Up 0.6%
Bank of America (NYSE:BAC – Get Free Report) last issued its quarterly earnings data 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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.
Bank of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is currently 27.72%.
Insider Activity at Bank of America
In other news, insider Thomas M. Scrivener sold 50,000 shares of the 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 owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This represents a 35.58% decrease in their position. 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 three months. 0.27% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Truist Financial increased their target price 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, Daiwa Securities Group increased their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.06.
View Our Latest Analysis on BAC
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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