Bank of America Corporation $BAC Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 721,422 shares of the financial services provider’s stock after selling 17,245 shares during the quarter. Bank of America comprises 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 23rd biggest position. Mutual of America Capital Management LLC’s holdings in Bank of America were worth $39,678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BAC. DecisionMap Wealth Management LLC boosted its holdings in Bank of America by 4.7% during the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock worth $223,000 after buying an additional 182 shares in the last quarter. Money Concepts Capital Corp boosted its holdings in Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock worth $273,000 after buying an additional 182 shares in the last quarter. Holistic Financial Partners boosted its holdings in Bank of America by 2.4% during the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock worth $434,000 after buying an additional 183 shares in the last quarter. Operose Advisors LLC boosted its holdings in Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 185 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its holdings in Bank of America by 1.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 187 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the 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 sale, 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 at this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 354,588 shares of company stock worth $17,814,296 over the last three months. 0.27% of the stock is currently owned by insiders.

Bank of America Stock Performance

Shares of BAC stock opened at $51.48 on Tuesday. Bank of America Corporation has a one year low of $43.36 and a one year high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average price of $51.20 and a 200 day moving average price of $52.30. The firm has a market capitalization of $365.36 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Bank of America’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is presently 27.72%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BAC shares. Robert W. Baird boosted their price objective on shares of Bank of America from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.06.

More Bank of America News

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

• Positive Sentiment: Analysts and commentators continue to highlight Bank of America’s earnings power, with recent pieces pointing to its strong deposit franchise, attractive valuation, and resilient near-term outlook. Bank of America’s Deposit Franchise Is the Hidden Asset Investors Keep Missing
• Positive Sentiment: Reuters-referenced reports say BAC expects second-quarter trading revenue to rise about 15% year over year, helped by elevated market volatility and stronger trading activity, which could lift results. Bank of America (BAC) Expects Q2 Trading Revenue to Jump 15%, Reuters Reports
• Positive Sentiment: Another recent note said Bank of America’s CEO sounded constructive on the near-term outlook, including better full-year net interest income trends, reinforcing confidence in the bank’s core business. Is Bank of America (BAC) the Best Undervalued Financial Stock to Buy Now?
• Neutral Sentiment: Several items focused on Bank of America Securities research in unrelated markets such as Indian IT, Amazon’s satellite internet plans, and Nvidia’s AI platform; these reinforce BAC’s broader market intelligence franchise but are unlikely to move the stock on their own. AI will expand opportunities for Indian IT; luxury housing demand remains strong: BofA Securities
• Neutral Sentiment: Coverage saying Bank of America kept a neutral view on AST SpaceMobile was about another company and does not materially affect BAC’s fundamentals. Bank of America and New Street Research Maintain Neutral Stance on AST SpaceMobile (ASTS) Amid Launch Delays
• Neutral Sentiment: Articles on BofA-hosted investor forums in Asia and quant markets indicate active client engagement and asset-management relationships, but they are not direct stock catalysts. BofA Securities Asia Forum Gathers Global Investors Amid Surge in Hedge Funds Allocations

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.