UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.49 Billion Stake in Bank of America Corporation $BAC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Bank of America Corporation (NYSE:BAC) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,727,148 shares of the financial services provider’s stock after selling 2,972,076 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bank of America were worth $2,491,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Bank increased its holdings in Bank of America by 0.8% during the 2nd quarter. Washington Trust Bank now owns 47,520 shares of the financial services provider’s stock worth $2,708,000 after purchasing an additional 357 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Bank of America by 5.4% in the second quarter. New Mexico Educational Retirement Board now owns 330,054 shares of the financial services provider’s stock valued at $18,806,000 after purchasing an additional 16,800 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in shares of Bank of America by 95.3% in the second quarter. Toth Financial Advisory Corp now owns 31,144 shares of the financial services provider’s stock valued at $1,775,000 after purchasing an additional 15,194 shares in the last quarter. Mufg Securities Americas Inc. boosted its position in shares of Bank of America by 8.1% during the second quarter. Mufg Securities Americas Inc. now owns 215,893 shares of the financial services provider’s stock worth $12,302,000 after buying an additional 16,260 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Bank of America by 6.9% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 47,182 shares of the financial services provider’s stock worth $2,688,000 after buying an additional 3,028 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s artificial-intelligence initiatives and branch expansion are expected to improve operating efficiency and customer service. The potential for productivity gains supports the long-term earnings case, although elevated expenses remain a risk. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: Strong inflows into gold and cryptocurrency funds reported by BofA suggest elevated client demand for investment products. That activity could benefit the bank’s wealth-management, brokerage and trading businesses, though the impact on BAC’s earnings is indirect.
• Neutral Sentiment: Bank of America disclosed holdings of approximately 4.69% and 5.87% in QIAGEN, reflecting regulatory notifications about its investment position. The disclosures may attract attention but do not materially change BAC’s core banking outlook. Bank of America Discloses 5.87% Stake in QIAGEN
• Neutral Sentiment: BofA strategists warned that global equities could face an autumn “reality check” tied to the U.S. midterm elections and geopolitical developments. A market pullback could weigh on BAC through lower investment-banking, asset-management and trading activity. Bank of America Warns of an Autumn Reality Check
• Negative Sentiment: JPMorgan is hiring senior technology dealmaker David Fishman from Bank of America. Losing an experienced M&A executive could weaken BAC’s technology investment-banking franchise and adds to competitive pressure. JPMorgan Hiring Bank of America’s David Fishman
• Negative Sentiment: The SEC is reportedly investigating margin lending to hedge fund Situational Awareness after a 67% drawdown, with Bank of America among the subpoenaed banks. Potential legal, credit and reputational risks could pressure sentiment. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: BAC is challenging proposed changes to the Federal Reserve’s global systemically important bank capital surcharge. Higher capital requirements could constrain lending, reduce balance-sheet flexibility and pressure returns on equity. Bank of America Joins Clash Over Fed GSIB Capital Rule

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Robert W. Baird upped their price target on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $64.08.

Bank of America Stock Performance

Shares of NYSE BAC opened at $62.38 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day moving average price of $61.18 and a 200 day moving average price of $54.90. The stock has a market capitalization of $436.21 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. Analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. Bank of America’s dividend payout ratio is presently 25.69%.

Bank of America Company 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.