Vinva Investment Management Ltd Purchases 106,604 Shares of Bank of America Corporation $BAC

Vinva Investment Management Ltd boosted its position in Bank of America Corporation (NYSE:BAC) by 21.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 605,931 shares of the financial services provider’s stock after purchasing an additional 106,604 shares during the period. Bank of America makes up approximately 0.6% of Vinva Investment Management Ltd’s holdings, making the stock its 28th largest holding. Vinva Investment Management Ltd’s holdings in Bank of America were worth $31,763,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BAC. Steph & Co. grew 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 acquiring an additional 379 shares during the period. Marquette Asset Management LLC bought a new stake in Bank of America in the 3rd quarter valued at about $30,000. Collier Financial bought a new stake in Bank of America in the 3rd quarter valued at about $30,000. Mountain Hill Investment Partners Corp. purchased a new stake in Bank of America during the third quarter valued at about $31,000. Finally, Wealth Preservation Advisors LLC boosted its position in Bank of America by 48.7% during the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The stock was 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 approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was 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 of the company’s stock, valued at approximately $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

Bank of America Trading Down 2.3%

Shares of Bank of America stock opened at $48.68 on Friday. The company’s 50-day moving average price is $53.27 and its 200-day moving average price is $52.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a market cap of $349.36 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.19 and a beta of 1.28.

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

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. Bank of America’s payout ratio is 29.24%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. The Goldman Sachs Group upped their price target on shares of Bank of America from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley lowered 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 report on Thursday, January 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.30.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Analyst buy thesis: BAC is described as “slipping back into the buy zone” — trading at ~12.5x trailing earnings (below its 10-year average) with a multiyear tailwind from net interest margin expansion as low?yielding assets reprice, supporting operating leverage and returns. Bank Of America: Slipping Back Into The ‘Buy’ Zone
• Positive Sentiment: Dividend & income angle: Coverage argues BAC remains attractive for dividend-seeking portfolios — an important point for income investors given the bank’s payout and current yield profile. Bank of America (BAC) Could Be a Great Choice
• Positive Sentiment: Wealth-management product expansion: Bank of America Private Bank launched an Art Consulting service — a niche revenue/relationship initiative that modestly diversifies fee income and deepens HNW client ties. Bank Of America Art Consulting Adds Dimension To Wealth And Valuation Story
• Neutral Sentiment: Underwriting / investment-banking activity: BofA Securities is lead in SM Energy’s $1bn senior notes offering — a reminder of recurring fee revenue from capital markets, but not large enough alone to swing BAC’s stock. Vinson & Elkins Advises Initial Purchasers on SM Energy’s $1 Billion Senior Notes Offering
• Neutral Sentiment: Shareholder / holdings disclosure: Galapagos filed transparency notices showing Bank of America entities crossed a reporting threshold — operational detail about holdings rather than a direct signal about BAC’s performance. Galapagos Receives Transparency Notifications from Bank of America
• Negative Sentiment: Geopolitical / market risk: BofA strategists warn that a prolonged U.S.–Iran war could push investors out of Europe and Japan into oil and the dollar — a macro shock that raises volatility and can hurt banks via risk?off flows, trading losses, or credit stress. BofA’s Hartnett Sees European, Japanese Stocks at Risk From War
• Negative Sentiment: Market sentiment cooling: Coverage noting that recent BAC share momentum has cooled and valuation dynamics are being reassessed — this sort of reassessment can trigger short?term selling even if fundamentals remain intact. Assessing Bank Of America (BAC) Valuation As Recent Share Momentum Cools
• Negative Sentiment: Sector rotation commentary: Bank of America research and market pieces (and consequent media coverage) around selling oil stocks and shifting sector preferences signal rotation and positioning changes that can temporarily depress financial shares amid heightened commodity and FX volatility. Bank of America (BAC) Is Telling Investors to Sell Oil Stocks as Crude Prices Soar. Here’s Why

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.