Bank of America Corporation $BAC Shares Sold by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH reduced its stake in Bank of America Corporation (NYSE:BAC) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,038 shares of the financial services provider’s stock after selling 10,303 shares during the period. Bank of America makes up about 0.6% of Siemens Fonds Invest GmbH’s investment portfolio, making the stock its 24th biggest holding. Siemens Fonds Invest GmbH’s holdings in Bank of America were worth $10,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America in the 3rd quarter valued at about $27,000. Legacy Bridge LLC boosted its position in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares during the last quarter. Joseph Group Capital Management purchased a new position in Bank of America in the 4th quarter valued at about $32,000. Finally, HFM Investment Advisors LLC boosted its position in Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after buying an additional 532 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America CEO Brian Moynihan said consumers are still spending on discretionary items despite inflation and affordability concerns, suggesting BAC’s customer base remains resilient and supporting a constructive outlook for card, deposit, and lending activity. Bank of America CEO Says Consumers Keep Spending Despite Affordability Concerns
• Positive Sentiment: Bank of America is expanding its “Scaminars” fraud-prevention campaign and using AI-powered detection tools, which could help reduce losses, protect clients, and strengthen the bank’s reputation with retail customers. Bank of America to Host Thousands of “Scaminars” to Help Protect Clients and Fight Fraud
• Positive Sentiment: Bank of America noted that Meta’s new AI search tools could create a larger monetization opportunity, highlighting BAC’s research influence and its bullish view on AI-driven growth themes. Meta introduces AI search and creative tools, Bank of America flags emerging monetization opportunity
• Neutral Sentiment: Bank of America maintained a Hold rating on PDD Holdings, citing softer-than-expected results; this is not directly about BAC, but it reflects ongoing analyst discipline across the firm’s coverage. Bank of America Securities Maintains Hold Rating on PDD Holdings (PDD) Stock
• Neutral Sentiment: Bank of America’s market commentary showing AI stock enthusiasm is still in the “boom phase” may support risk appetite in equities, but it is more of a market sentiment signal than a direct BAC-specific catalyst. AI Stock Rally Is in Boom Phase Not Euphoria, BofA Survey Shows
• Neutral Sentiment: Bank of America renewed its partnership with the Kansas City Current, a positive branding and community item, but it is unlikely to materially affect earnings or the stock near term. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Neutral Sentiment: Bank of America slightly reduced a derivative-based stake in CA Immobilien Anlagen, a routine disclosure that does not appear significant for BAC’s fundamentals. Bank of America slightly trims derivative-based stake in CA Immobilien Anlagen

Insider Activity at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Piper Sandler upped their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. The Goldman Sachs Group upped their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Evercore decreased their price objective on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.06.

Bank of America Stock Performance

Shares of NYSE BAC opened at $56.79 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average price is $52.57 and its two-hundred day moving average price is $52.47. Bank of America Corporation has a 52-week low of $44.06 and a 52-week high of $57.55. The stock has a market capitalization of $402.99 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.95 and a beta of 1.19.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter last year, the company posted $0.90 earnings per share. Bank of America’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

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.