Unisphere Establishment Sells 863,300 Shares of Bank of America Corporation $BAC

Unisphere Establishment trimmed its position in Bank of America Corporation (NYSE:BAC) by 15.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,774,000 shares of the financial services provider’s stock after selling 863,300 shares during the quarter. Bank of America accounts for 2.0% of Unisphere Establishment’s holdings, making the stock its 14th largest holding. Unisphere Establishment’s holdings in Bank of America were worth $232,732,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the period. Norges Bank bought a new position in Bank of America during the 4th quarter worth about $4,774,210,000. Bank of New York Mellon Corp increased its position in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after purchasing an additional 2,929,779 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after purchasing an additional 1,105,833 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after purchasing an additional 2,611,776 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Trading Up 1.2%

NYSE BAC opened at $62.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a market cap of $439.96 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The company has a 50 day moving average price of $56.42 and a 200 day moving average price of $53.36. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.28.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. Bank of America’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.65 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders 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 represents a $1.28 annualized dividend and a dividend yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is currently 25.69%.

Insider Buying and Selling at Bank of America

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 sale, the insider 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BAC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Robert W. Baird lifted their price target on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley boosted their price target on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, UBS Group upped their price objective on Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.