LSV Asset Management Sells 290,200 Shares of Bank of America Corporation $BAC

LSV Asset Management cut its holdings in Bank of America Corporation (NYSE:BAC) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,309,666 shares of the financial services provider’s stock after selling 290,200 shares during the period. Bank of America comprises approximately 0.8% of LSV Asset Management’s portfolio, making the stock its 29th biggest holding. LSV Asset Management’s holdings in Bank of America were worth $347,032,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. New World Advisors LLC grew its holdings in shares of Bank of America by 11.6% in the fourth quarter. New World Advisors LLC now owns 10,752 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 1,118 shares in the last quarter. Advisory Alpha LLC grew its holdings in shares of Bank of America by 1.6% in the fourth quarter. Advisory Alpha LLC now owns 34,628 shares of the financial services provider’s stock valued at $1,905,000 after acquiring an additional 530 shares in the last quarter. Evoke Wealth LLC grew its holdings in Bank of America by 0.6% during the fourth quarter. Evoke Wealth LLC now owns 79,281 shares of the financial services provider’s stock valued at $4,360,000 after purchasing an additional 436 shares during the period. SGL Investment Advisors Inc. grew its holdings in Bank of America by 3.1% during the fourth quarter. SGL Investment Advisors Inc. now owns 8,838 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 268 shares during the period. Finally, Empirical Asset Management LLC grew its holdings in Bank of America by 0.8% during the fourth quarter. Empirical Asset Management LLC now owns 49,818 shares of the financial services provider’s stock valued at $2,740,000 after purchasing an additional 419 shares during the period. 70.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 1,373,397 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 354,588 shares of company stock valued at $17,814,296 over the last three months. Insiders own 0.27% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
• Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
• Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
• Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
• Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Bank of America Price Performance

Bank of America stock opened at $51.81 on Friday. Bank of America Corporation has a one year low of $42.35 and a one year high of $57.55. The business has a fifty day moving average price of $50.65 and a 200-day moving average price of $52.38. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $367.64 billion, a P/E ratio of 12.82, a PEG ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC) last posted 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. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America Corporation will post 4.46 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Robert W. Baird increased their price objective on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Evercore reduced 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. Erste Group Bank lowered Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Daiwa Securities Group increased their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.06.

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.