Triglav Investments D.O.O. Reduces Stake in Bank of America Corporation $BAC

Triglav Investments D.O.O. lowered its position in Bank of America Corporation (NYSE:BAC) by 45.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,820 shares of the financial services provider’s stock after selling 94,915 shares during the period. Triglav Investments D.O.O.’s holdings in Bank of America were worth $5,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Handelsbanken Fonder AB grew its position in shares of Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after purchasing an additional 1,603,080 shares in the last quarter. Legal & General Group Plc lifted its holdings in Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Bank of America by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock worth $159,794,000 after purchasing an additional 71,307 shares during the period. International Assets Investment Management LLC grew its holdings in Bank of America by 217.4% during the 4th quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock valued at $18,037,000 after buying an additional 224,627 shares in the last quarter. Finally, Moore Capital Management LP raised its position in shares of Bank of America by 2.2% during the third quarter. Moore Capital Management LP now owns 2,628,480 shares of the financial services provider’s stock valued at $135,603,000 after buying an additional 55,840 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s consumer team said its latest report showed spending up 6.3%, the fastest pace in four years, with wage growth broad-based across all income groups. That suggests the U.S. consumer remains resilient, which is supportive for BAC’s lending and fee income outlook. BofA Consumer Chief: Spending Jumps 6.3% With Wage Growth Across “All Income Groups”
• Positive Sentiment: Financial funds saw their biggest inflow since January, according to Bank of America, signaling improved investor appetite for the sector ahead of bank earnings season. That kind of rotation can lift BAC and other large-cap financials. Financial funds steal the spotlight with biggest inflow since January, Bofa says
• Positive Sentiment: Analysts and market coverage continue to frame Bank of America’s upcoming July 14 earnings report as potentially strong, with expectations for healthy net interest income, fee income, and double-digit EPS growth. Strong results could extend the recent move higher in BAC shares. Bank of America Reports Q2 Earnings Next Week. What Investors Should Expect.
• Neutral Sentiment: Bank of America also continues to generate headlines through its analyst research, including bullish views on names like Meta, Nvidia, Micron, Costco, and homebuilders. These reports help reinforce BAC’s influence on Wall Street, but they are only an indirect driver of BAC stock itself. Meta Stock’s AI Chip Ambitions Are Reaching a ‘Positive Inflection,’ Says Bank of America
• Neutral Sentiment: Bank of America, N.A. announced redemptions of $2.6 billion of senior notes due in August 2026. The move is routine balance-sheet management and is not likely to materially affect the stock on its own. Bank of America, N.A. Announces Redemptions of $2,000,000,000 5.526% Senior Bank Notes and $600,000,000 Floating Rate Senior Bank Notes, Due August 2026

Insider Buying and Selling

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Bank of America Stock Performance

Bank of America stock opened at $59.67 on Monday. 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 Corporation has a twelve month low of $44.75 and a twelve month high of $60.83. The company’s 50-day moving average price is $54.50 and its 200-day moving average price is $52.96. The company has a market cap of $423.49 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The company 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%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several research analyst reports. Robert W. Baird boosted their target price on shares of Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Bank of America from $57.50 to $62.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Argus increased their price objective on shares of Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Jefferies Financial Group raised their price objective on Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $59.00 target price on shares of Bank of America in a research report on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $62.19.

About Bank of America

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.