Mn Services Vermogensbeheer B.V. Grows Stock Position in Bank of America Corporation $BAC

Mn Services Vermogensbeheer B.V. lifted its stake in Bank of America Corporation (NYSE:BAC) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,633,310 shares of the financial services provider’s stock after buying an additional 215,510 shares during the quarter. Bank of America makes up 0.6% of Mn Services Vermogensbeheer B.V.’s holdings, making the stock its 29th largest position. Mn Services Vermogensbeheer B.V.’s holdings in Bank of America were worth $89,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bank of America by 640.5% in the third 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 valued at $2,399,798,000 after acquiring an additional 40,235,201 shares during the period. Capital World Investors grew its stake in shares of Bank of America by 11.0% during the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Bank of America by 124.8% during 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 purchasing an additional 9,782,208 shares during the period. Danske Bank A S purchased a new position in shares of Bank of America during the 3rd quarter valued at approximately $224,863,000. Finally, Capitolis Liquid Global Markets LLC increased its holdings in shares of Bank of America by 52.0% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock valued at $644,681,000 after purchasing an additional 4,273,472 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the transaction, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BAC. Jefferies Financial Group assumed coverage on shares of Bank of America in a report on Thursday, March 26th. They set a “buy” rating and a $60.00 price target on the stock. Evercore set a $59.00 target price on shares of Bank of America in a research note on Thursday, January 15th. Wells Fargo & Company raised their target price on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Piper Sandler lifted their price target on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Finally, Argus upped their price target on Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Bank of America Stock Up 0.5%

BAC opened at $47.20 on Tuesday. The company has a market cap of $337.26 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The company has a 50-day moving average price of $50.91 and a 200 day moving average price of $52.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the previous year, the business earned $0.82 EPS. Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America’s dividend payout ratio is currently 29.24%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Sector momentum: Financial stocks are broadly advancing this morning, which tends to lift large-cap banks like BAC as investors rotate into financials. Sector Update: Financial Stocks Advance Premarket Monday
• Positive Sentiment: “Big bank” safe-haven narrative: Coverage arguing the major banks are safer than private-credit funds has supported demand for systemically important banks, benefiting BAC relative to smaller credit providers. Private-credit crisis or growing pains? Why the ‘Big Six’ banks are a safer bet.
• Neutral Sentiment: BofA research product highlights AI winners — underscores the firm’s visible research franchise but has no direct earnings impact on BAC. These stocks are ‘the place to be’ if you want serious AI growth, says BofA
• Neutral Sentiment: BofA initiated coverage on ProPetro with a Buy — positive for BofA’s institutional-fee generation and research visibility, but indirect for BAC equity moves. ProPetro awarded ‘Buy’ rating in initial coverage from Bank of America
• Negative Sentiment: Legal hit: Reports say BAC will pay about $72.5M to settle a lawsuit by victims of Jeffrey Epstein — a direct expense and reputational headwind that can pressure the stock. Bank of America to pay $72.5M to settle lawsuit by Epstein victims
• Negative Sentiment: Security/reputation risk: French authorities opened a terror probe after a failed attack near BAC’s Paris HQ — an operational/reputational risk that can add short-term uncertainty. France Opens Terror Probe After Failed Attack at Bank of America’s Paris HQ
• Negative Sentiment: Analyst and market caution: Oppenheimer trimmed BAC’s price target, and a BofA technical analyst warned Q2 may be challenging for equities — both increase downside risk and could limit upside. Oppenheimer Cuts Bank of America (NYSE:BAC) Price Target to $58.00 Bank of America has blunt message on stocks and bonds for Q2
• Negative Sentiment: Geopolitical risk: Middle East strikes and escalation concerns are raising market volatility broadly — a headwind for banks’ trading and loan books. Iran Strikes Spread as US Troop Buildup Spurs Escalation Concern

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.