BDF Gestion Sells 31,437 Shares of Bank of America Corporation $BAC

BDF Gestion lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 30.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,184 shares of the financial services provider’s stock after selling 31,437 shares during the quarter. BDF Gestion’s holdings in Bank of America were worth $3,820,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BAC. Total Clarity Wealth Management Inc. increased its position in shares of Bank of America by 3.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 168 shares during the last quarter. Orca Wealth Management LLC boosted its stake in shares of Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock valued at $1,999,000 after purchasing an additional 179 shares in the last quarter. Financial Consulate Inc. raised its position in Bank of America by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the period. Bedel Financial Consulting Inc. raised its position in Bank of America by 1.1% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the period. Finally, GatePass Capital LLC lifted its stake in Bank of America by 3.6% in the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 190 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Down 1.5%

NYSE BAC traded down $0.77 during trading hours on Monday, reaching $50.47. 16,450,632 shares of the company’s stock traded hands, compared to its average volume of 37,665,609. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day simple moving average of $59.05 and a 200 day simple moving average of $56.75. The firm has a market cap of $352.89 billion, a PE ratio of 11.99, a PEG ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter last year, the company posted $1.06 EPS. Bank of America’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 4.54 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is currently 30.40%.

Bank of America News Summary

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

• Positive Sentiment: Analysts and financial commentators continue to view the recent sell-off as a potential buying opportunity, citing Bank of America’s strong underlying profitability, “fortress” balance sheet and capacity to absorb the regulatory settlement without derailing long-term earnings growth. Bank of America Stock Is a Buy after the Recent Sell-Off
• Positive Sentiment: Bank of America Securities reiterated a Buy rating on Aura Minerals, with a $101 price target. The recommendation is positive for the bank’s investment-banking franchise, although it is unlikely to materially affect BAC’s valuation. Aura Minerals Buy Rating
• Neutral Sentiment: Bank of America disclosed that its indirect ownership in Turkish venture investment firm ICU Girisim Sermayesi Yatirim Ortakligi rose to 4.1%. The holding is too small to be a major driver of BAC’s stock. Bank of America Lifts Indirect Stake in ICU
• Neutral Sentiment: Management has said it is addressing the anti-money-laundering shortcomings, while reports indicate the bank is deploying about 1,000 consultants to help remediate AI-related security weaknesses. These actions could limit future risk but may increase near-term costs. Bank of America CEO Addresses Compliance Problem
• Negative Sentiment: Several law firms announced securities-fraud investigations and class-action lawsuits alleging that Bank of America and senior executives misled investors about compliance and AML controls. The filings do not establish liability, but they increase legal, reputational and potential financial risks. Hagens Berman BAC Investigation
• Negative Sentiment: The $1.2 billion Treasury penalty for AML violations remains the clearest immediate overhang. Alongside the latest earnings miss, it raises questions about compliance execution and could lead to additional remediation expenses or regulatory scrutiny. Bank of America Stock After a Regulatory Fine

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAC. Wells Fargo & Company reduced their price objective on Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup lowered their price objective on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Argus set a $70.00 target price on Bank of America in a research note on Wednesday, July 15th. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price target on the stock in a report on Thursday. Finally, Jefferies Financial Group cut their target price on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Twenty investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.52.

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.