Bank of America Corporation $BAC Shares Purchased by Tredje AP fonden

Tredje AP fonden raised its position in Bank of America Corporation (NYSE:BAC) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614,496 shares of the financial services provider’s stock after purchasing an additional 28,684 shares during the period. Tredje AP fonden’s holdings in Bank of America were worth $83,292,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quaker Wealth Management LLC lifted its stake in shares of Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after buying an additional 880 shares during the period. Steph & Co. lifted its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Bank of America during the third quarter worth $30,000. Collier Financial acquired a new stake in shares of Bank of America during the third quarter worth $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bank of America in the third quarter valued at $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America News Summary

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

• Positive Sentiment: Large growth/fee opportunity — BofA plans to commit $25 billion of its own capital to expand private?credit and direct?lending activity, a move that can boost fee income, diversify lending channels and signal aggressive growth of non?interest revenue. BofA commits $25 billion to private-credit deals, memo shows
• Positive Sentiment: Client acquisition and deposit strategy — BofA is redesigning a no?fee rewards program aimed at expanding relationships with checking clients (potentially ~30M more), which could deepen deposit balances and cross?sell into cards and wealth management over time. How BAC’s No-Fee Rewards Program Can Be a Slow-Burn Growth Driver
• Positive Sentiment: Wealth business recognition — Merrill had 24 advisors named to Financial Planning’s Top 40 Brokers Under 40, underscoring talent depth in wealth management, which supports fee revenue stability and advisor retention. 24 Merrill Advisors Recognized on Financial Planning’s Top 40 Brokers Under 40 List
• Neutral Sentiment: Investor attention rising — Screening and search interest in BAC has picked up, which can amplify moves both ways depending on incoming data and macro headlines. Investors Heavily Search Bank of America Corporation (BAC)
• Neutral Sentiment: Macro/sector commentary — Bank of America Securities flagged the housing rebound as shaky (weak year?on?year), which is sector commentary that could influence mortgage volumes but isn’t an immediate hit to BAC’s broad franchise. Home Construction Rebound Looks Shaky, Says Analyst
• Negative Sentiment: Risk/valuation concerns in private credit — Coverage from FT and others notes growing industry moves into private credit and flags mounting concerns about the sector’s health and underwriting risk; deploying large balance?sheet capital raises exposure and regulatory/credit?cycle risk if conditions sour. Bank of America commits $25bn to private credit lending

Analysts Set New Price Targets

BAC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Morgan Stanley decreased their target price on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. HSBC upped their price target on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Piper Sandler lifted their price target on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Bank of America Price Performance

BAC opened at $53.04 on Friday. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55. The company has a 50 day moving average of $54.29 and a two-hundred day moving average of $52.22. The company has a market cap of $387.35 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.29 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is presently 29.24%.

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.