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

Y Intercept Hong Kong Ltd cut its holdings in shares of Bank of America Corporation (NYSE:BAC) by 61.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,061 shares of the financial services provider’s stock after selling 255,427 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank of America were worth $7,754,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Abound Financial LLC purchased a new position in Bank of America in the 4th quarter worth $26,000. Wiser Advisor Group LLC purchased a new stake in Bank of America during the third quarter valued at about $27,000. Legacy Bridge LLC boosted its position in Bank of America by 182.3% during the fourth 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 period. CrossGen Wealth LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management purchased a new position in shares of Bank of America in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated 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 transaction, the insider directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Bank of America from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Autonomous Res lowered their price objective on Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Piper Sandler raised their target price on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Key Stories Impacting 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

Bank of America Price Performance

Shares of BAC stock opened at $58.67 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $59.19. The firm has a market cap 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 business’s 50 day moving average price is $53.82 and its 200-day moving average price is $52.82.

Bank of America (NYSE:BAC) last announced 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 company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities research analysts anticipate that Bank of America Corporation will post 4.49 earnings per share for the current year.

Bank of America Announces Dividend

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