Berkshire Hathaway Inc Has $28.45 Billion Position in Bank of America Corporation $BAC

Berkshire Hathaway Inc lessened its holdings in Bank of America Corporation (NYSE:BAC) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 517,295,934 shares of the financial services provider’s stock after selling 50,774,078 shares during the quarter. Bank of America makes up approximately 10.4% of Berkshire Hathaway Inc’s holdings, making the stock its 3rd biggest holding. Berkshire Hathaway Inc owned about 7.08% of Bank of America worth $28,451,276,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB grew its position in shares of Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after buying an additional 1,603,080 shares during the period. Mufg Securities Americas Inc. boosted its stake in Bank of America by 26.6% during the 3rd quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock worth $10,262,000 after acquiring an additional 41,809 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Bank of America by 11.2% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock worth $34,974,000 after acquiring an additional 68,093 shares during the last quarter. Constant Guidance Financial LLC boosted its stake in Bank of America by 603.4% during the 3rd quarter. Constant Guidance Financial LLC now owns 24,283 shares of the financial services provider’s stock worth $1,253,000 after acquiring an additional 20,831 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Bank of America during the 3rd quarter worth approximately $27,629,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC opened at $56.55 on Thursday. The company has a market capitalization of $401.28 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.96 and a beta of 1.18. The business’s 50-day moving average price is $52.70 and its two-hundred day moving average price is $52.49. Bank of America Corporation has a 1 year low of $44.21 and a 1 year high of $57.98. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81.

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

Bank of America Dividend Announcement

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 issued a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America 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 directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BAC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Morgan Stanley reduced 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 research note on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America was added to the Investor’s Business Daily Breakout Stocks Index and moved into a new buy zone, with the stock showing clear signs of investor demand. AI Strategy, Double-Digit Growth Put BofA Stock In Focus
• Positive Sentiment: Analysts and market coverage are highlighting BAC’s strong multi-year gains and continued appeal as a reasonably valued financial stock, which may be supporting sentiment despite the run-up in the share price. Bank of America (BAC) Stock After Strong Multi‑Year Gains Still Reasonably Priced?
• Positive Sentiment: Bank of America executives said AI could expand its dominance in municipal underwriting, reinforcing the bank’s technology-driven growth narrative and potential for higher fee income. BofA Exec Sees AI Expanding Its Domination of Muni Underwriting
• Positive Sentiment: A new Bank of America study found wealthy clients are facing more complex financial planning needs due to longer lifespans and faster wealth transfer, which could support demand for the bank’s private banking and wealth management services. BofA Study Finds Longevity and Accelerating Wealth Transfer Are Making Family Finances More Complex
• Neutral Sentiment: Bank of America’s latest investor survey pointed to resilient economic conditions and a higher equity overweight among fund managers, but this is more a read on market positioning than a direct earnings catalyst. Bank of America takes firm position on inflation, economy
• Neutral Sentiment: The company also renewed its partnership with the Kansas City Current, a positive branding move but not likely to have a material near-term impact on BAC shares. Kansas City Current, BofA Announces Multi-Year Partnership Renewal Featuring Enhanced Community Efforts
• Negative Sentiment: Analyst price-target moves were mixed, with some firms cutting estimates, suggesting the market still has some concerns about BAC’s valuation and earnings outlook after a strong rally. Bank of America (BAC) Stock Draws Fresh Price Target Split After Mixed Analyst Revisions

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.