Border to Coast Pensions Partnership Ltd Has $53.80 Million Stock Position in Bank of America Corporation $BAC

Border to Coast Pensions Partnership Ltd reduced its holdings in shares of Bank of America Corporation (NYSE:BAC) by 21.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,100,242 shares of the financial services provider’s stock after selling 297,279 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Bank of America were worth $53,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Abound Financial LLC acquired a new position in Bank of America during the fourth quarter worth $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America in the 3rd quarter valued at $27,000. Legacy Bridge LLC increased its stake 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. CrossGen Wealth LLC bought a new stake in Bank of America during the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America during the 4th quarter worth about $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Performance

Shares of BAC opened at $57.92 on Friday. The firm has a 50-day moving average of $53.36 and a 200-day moving average of $52.68. Bank of America Corporation has a one year low of $44.75 and a one year high of $59.19. The company has a market cap of $411.06 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.18. 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 released 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 for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. 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 previous year, the business earned $0.90 EPS. As a group, equities analysts forecast that Bank of America Corporation will post 4.47 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s payout ratio is 27.72%.

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 $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 company insiders.

Bank of America News Roundup

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

• Positive Sentiment: Citi raised its price target on Bank of America and kept a Buy rating, citing expectations for strong second-quarter results and reinforcing the view that BAC can deliver solid earnings growth. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
• Positive Sentiment: Barclays reaffirmed its Buy rating on BAC, adding to the bullish analyst backdrop and suggesting Wall Street still sees room for upside. Barclays Reaffirms Their Buy Rating on Bank of America (BAC)
• Positive Sentiment: Bank of America’s own research highlighted AI-driven semiconductor demand, projecting an additional $1 trillion in chip sales over five years, which supports a more constructive macro outlook for markets tied to technology spending and capital formation. BofA Sees AI Driving the Next $1 Trillion in Semiconductor Revenue
• Positive Sentiment: Reports that major banks passed the Fed stress test again and showed capital resilience may lift sentiment toward large money-center banks like BAC by reinforcing dividend and buyback flexibility. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
• Neutral Sentiment: Other BofA commentary focused on housing trends, small- and mid-cap preferences, and wealthy-investor behavior, but these items are more market-color than direct catalysts for BAC shares. Bank of America sees major housing shift despite high mortgage rates
• Negative Sentiment: Bank of America also warned that the risk of a market correction is rising, a cautious tone that can temper enthusiasm for financial stocks even when fundamentals remain solid. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Analyst Ratings Changes

BAC has been the subject of several analyst reports. Evercore decreased their price objective on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. UBS Group upped their target price on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Autonomous Res reduced their price target 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. The Goldman Sachs Group increased their price target on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Citigroup raised their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

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.