Bank of America Corporation $BAC Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in shares of Bank of America Corporation (NYSE:BAC) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,123 shares of the financial services provider’s stock after purchasing an additional 97,649 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Bank of America were worth $17,653,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in shares of Bank of America during the 4th quarter valued at $26,000. Legacy Bridge LLC lifted its holdings in shares of Bank of America by 182.3% in 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. Wiser Advisor Group LLC bought a new position in Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC acquired a new position in Bank of America during the fourth quarter worth about $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America during the fourth quarter worth about $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s analysts are still finding opportunities across financials and related sectors, with recent notes highlighting attractive valuations, net interest margin upside at regional banks, and other potential buying opportunities. That reinforces a constructive view on BAC and the broader bank group. Article: Citizens Financial Group: Buy Rating Backed by Attractive Valuation, Above-Peer Growth and Net Interest Margin Upside
• Positive Sentiment: Bank of America is also leaning into growth areas like AI and digital assets, promoting executives to lead its AI transformation and crypto efforts. Investors may see that as evidence the bank is investing for long-term efficiency and new revenue streams. Article: Bank of America Promotes Execs to Champion AI and Crypto
• Neutral Sentiment: Several headlines reflect broad market and macro themes, including inflation expectations, Fed policy debates, and bank earnings commentary. These are more relevant to sector sentiment than to a direct BAC-specific catalyst. Article: Bond Traders Take Warsh at Word, See Inflation Fight Continuing
• Neutral Sentiment: Bank of America’s own recent dividend declarations on preferred shares are routine capital-return updates and are unlikely to move the common stock meaningfully on their own. Article: Bank of America Corporation 5.375 DEP PFD KK declares $0.3359 dividend
• Negative Sentiment: Macro uncertainty around Fed policy and inflation could keep pressure on bank valuation multiples if rate-cut expectations fade or markets price in a more restrictive policy path. That is a risk for BAC even if its fundamentals remain solid. Article: Could Warsh Break a 56-Year Fed Rate-Hike Streak?

Bank of America Trading Down 1.4%

Shares of BAC opened at $60.41 on Tuesday. The business’s 50-day moving average price is $55.50 and its 200 day moving average price is $53.17. The stock has a market capitalization of $428.70 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts expect that Bank of America Corporation will post 4.64 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of America’s payout ratio is currently 25.69%.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s 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 completion of the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BAC shares. Morgan Stanley upped their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. UBS Group lifted their price objective on shares of Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Barclays boosted their target price on shares of Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $63.77.

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.