TD Waterhouse Canada Inc. Trims Stock Position in Bank of America Corporation $BAC

TD Waterhouse Canada Inc. cut its position in Bank of America Corporation (NYSE:BAC) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 895,406 shares of the financial services provider’s stock after selling 22,286 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Bank of America were worth $45,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in BAC. Norges Bank purchased a new stake in shares of Bank of America in the second quarter worth $5,091,641,000. Arrowstreet Capital Limited Partnership increased its stake in Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after acquiring an additional 9,782,208 shares during the last quarter. ABN AMRO Bank N.V. purchased a new stake in shares of Bank of America in the 2nd quarter valued at about $202,439,000. OMERS ADMINISTRATION Corp boosted its position in shares of Bank of America by 881.5% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after acquiring an additional 3,781,417 shares during the last quarter. Finally, AMF Tjanstepension AB grew its holdings in shares of Bank of America by 62.9% during the second quarter. AMF Tjanstepension AB now owns 8,904,561 shares of the financial services provider’s stock worth $421,564,000 after purchasing an additional 3,438,876 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America News Roundup

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

• Positive Sentiment: Analysts and valuation bulls still see upside — several write-ups point to BAC’s low P/E and multi-analyst buy calls that imply ~20–25% upside, supporting a buy-the-dip narrative. Bank of America’s Rock-Bottom P/E and 25% Upside Potential
• Positive Sentiment: Short interest fell sharply in January (down ~12.4%), reducing one source of downward pressure and indicating fewer active bearish bets on the stock.
• Neutral Sentiment: Internal HR/PR move — BofA will match a $1,000 pilot contribution to employee “Trump Accounts,” per an internal memo; important for employee retention/PR but not material to fundamentals. BofA to match US government’s pilot contribution to Trump Accounts, memo says
• Neutral Sentiment: Bank of America increased a disclosed stake in Flutter Entertainment — a portfolio/positioning update that shows ongoing trading/investment activity but is not a core-bank earnings driver. Bank of America Boosts Stake in Flutter Entertainment
• Negative Sentiment: BofA strategists flag rising long-term yields as a market risk — the firm’s chief investment strategist warned the U.S. Treasury “cannot allow” the 30?year yield to move above ~5%, signaling the market is sensitive to long-end rate moves; rising long yields can trigger equity volatility and weigh on bank trading/market sentiment. Top Bank of America strategist says the long bond is nearing the key line in the sand
• Negative Sentiment: Analysts trimming near-term price targets — Daiwa cut its BAC target (from $66 to $62) and some outlets note lower targets from others even as ratings remain largely constructive, which can pressure sentiment and spark short-term selling. Daiwa adjusts price target on Bank of America to $62 from $66
• Negative Sentiment: BofA’s own survey signals “hyper-bull” sentiment among fund managers — historically associated with elevated correction risk; combined with strategist warnings about the long bond, this raises short-term downside risk for cyclicals and big banks. This Signal Just Flashed for the First Time in 8 Years

Bank of America Trading Down 0.7%

Shares of BAC opened at $51.82 on Thursday. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55. The firm has a market cap of $378.44 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.27 and a beta of 1.29. The firm has a 50 day moving average price of $54.08 and a 200-day moving average price of $51.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. Phillip Securities raised their target price on shares of Bank of America from $50.00 to $56.00 in a research note on Tuesday, October 21st. Piper Sandler increased their price target on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a report on Monday, January 5th. Finally, Argus upped their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

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.