Y Intercept Hong Kong Ltd Sells 255,427 Shares of Bank of America Corporation $BAC

Y Intercept Hong Kong Ltd trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 61.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,061 shares of the financial services provider’s stock after selling 255,427 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Bank of America were worth $7,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Bank of America in the fourth quarter valued at $4,774,210,000. Capital International Investors purchased a new stake in Bank of America during the 4th quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. Vanguard Group Inc. boosted its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. grew its holdings in Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after buying an additional 22,621,546 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.1%

Shares of BAC opened at $58.67 on Friday. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $59.19. The company has a market capitalization of $416.35 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $53.82 and its 200 day simple moving average is $52.82.

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 analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Sell-side analysts forecast that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Morgan Stanley raised their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Daiwa Securities Group boosted their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a report on Thursday, April 16th. Finally, UBS Group increased their price objective on Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.60.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America analysts are backing Meta Platforms’ AI/cloud expansion, highlighting a potentially large revenue opportunity tied to selling AI infrastructure capacity. While this is about Meta, it reinforces BAC’s influence in high-profile AI and cloud investment themes. Article Title
• Positive Sentiment: One report says Bank of America could soon increase its dividend after passing stress tests, which would be a favorable capital-return signal for income investors. Article Title
• Neutral Sentiment: Analysts and market commentary continue to frame BAC as a relatively reasonable value among major banks, with discussion around earnings power, valuation, and how it compares with peers like Wells Fargo. Article Title
• Neutral Sentiment: Bank of America’s strategists remain active in market calls, including a warning that the S&P 500 could face a correction and a view that “boring” cyclical stocks may outperform. These comments reflect BAC’s broad market influence more than direct company-specific news. Article Title
• Negative Sentiment: One article highlights a $7.5 million SEC settlement related to Bank of America, adding a modest regulatory overhang even though the dollar amount is not material relative to BAC’s size. Article Title

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

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.