Epoch Investment Partners Inc. Lowers Stock Holdings in Bank of America Corporation $BAC

Epoch Investment Partners Inc. cut its position in Bank of America Corporation (NYSE:BAC) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,787,953 shares of the financial services provider’s stock after selling 52,653 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Bank of America were worth $87,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BAC. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Bank of America by 63.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,797,936 shares of the financial services provider’s stock worth $575,149,000 after acquiring an additional 4,570,349 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Bank of America in the 1st quarter valued at about $67,507,000. Bollard Group LLC increased its stake in Bank of America by 11.3% during the first quarter. Bollard Group LLC now owns 192,945 shares of the financial services provider’s stock worth $9,406,000 after purchasing an additional 19,665 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Bank of America by 51.3% during the first quarter. Hilltop Holdings Inc. now owns 38,237 shares of the financial services provider’s stock worth $1,864,000 after purchasing an additional 12,957 shares in the last quarter. Finally, Morningstar Investment Management LLC raised its stake in shares of Bank of America by 8.7% in the first quarter. Morningstar Investment Management LLC now owns 38,527 shares of the financial services provider’s stock valued at $1,878,000 after acquiring an additional 3,079 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s 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 completion of the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Bank of America Stock Performance

NYSE:BAC opened at $62.00 on Friday. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.28. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $439.96 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business’s fifty day moving average price is $56.42 and its 200 day moving average price is $53.36.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Corporation will post 4.65 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio is presently 25.69%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Autonomous Res cut their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Daiwa Securities Group lifted their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, HSBC upped their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.77.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

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.