Bank of America Corporation $BAC Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its holdings in Bank of America Corporation (NYSE:BAC) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 506,677 shares of the financial services provider’s stock after selling 26,220 shares during the quarter. Stephens Inc. AR’s holdings in Bank of America were worth $26,139,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Quaker Wealth Management LLC grew its position in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares during the last quarter. RMG Wealth Management LLC purchased a new position in shares of Bank of America in the second quarter worth $28,000. Steph & Co. lifted its stake in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares during the period. CGC Financial Services LLC lifted its stake in shares of Bank of America by 585.4% during the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after buying an additional 521 shares during the period. Finally, Marquette Asset Management LLC purchased a new stake in shares of Bank of America during the third quarter valued at $30,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Earnings and revenue beat: Q4 net income rose to about $7.6B, EPS of $0.98 topped consensus and revenue (~$28.3B) beat estimates — a core reason for the early positive reaction. Bank of America (BAC) Stock: Consumer Spending Drives Earnings Beat
• Positive Sentiment: Consumer strength + credit quality: Debit/credit card spending rose ~6% and 90+ day credit-card delinquencies improved, supporting fee income and lowering credit-cost risk. View Press Release
• Positive Sentiment: Trading and investment-banking helped the beat: Markets and capital-markets activity pushed revenue higher than peers expected, cushioning NII sensitivity concerns. Bank of America’s Profit Climbs on Higher Revenue
• Positive Sentiment: Management tone: CEO Brian Moynihan said he’s bullish on the U.S. economy, which can reassure investors about outlook and capital allocation. Bank of America’s CEO says he’s bullish on the U.S. economy as earnings edge past expectations
• Neutral Sentiment: Official filings and slide deck posted with the results (details on margins, ROE and guidance to watch); these documents will shape analyst revisions. View Slide Deck
• Positive Sentiment: Short interest fell sharply in December, reducing a near-term squeeze risk and signaling less bearish positioning. (Short interest dropped ~21% to ~90.6M shares as of Dec 31.)
• Negative Sentiment: Market reaction and sector pressure: Despite the beat, BAC shares slipped as traders digested mixed bank prints and pared positions; futures were softer as multiple banks reported. Wall St futures edge lower as Bank of America, Wells Fargo earnings roll in
• Negative Sentiment: Political/regulatory overhang: President Trump’s proposal to cap credit-card rates has put downward pressure on bank stocks broadly; policy risk could weigh on future card yields and margins. Banks warn consumers will be hurt by Trump’s 10% cap on credit card interest rates

Wall Street Analyst Weigh In

A number of analysts have commented on BAC shares. Royal Bank Of Canada lifted their price target on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, January 7th. Robert W. Baird upped their target price on Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Oppenheimer lifted their price objective on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.91.

Bank of America Stock Performance

Shares of NYSE BAC opened at $54.47 on Wednesday. The company has a market capitalization of $397.80 billion, a PE ratio of 14.84 and a beta of 1.29. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The company’s fifty day moving average price is $54.19 and its 200 day moving average price is $51.14. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $28.53 billion for the quarter, compared to analyst estimates of $27.73 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. On average, research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is currently 30.52%.

Bank of America 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.