Commerzbank Aktiengesellschaft FI Has $17.65 Million Stock Position in Bank of America Corporation $BAC

Commerzbank Aktiengesellschaft FI increased its holdings in Bank of America Corporation (NYSE:BAC) by 36.9% in the 1st quarter, Holdings Channel reports. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC grew its position in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 6,174 shares in the last quarter. Jump Financial LLC increased its stake in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after buying an additional 18,227 shares during the period. Nebula Research & Development LLC purchased a new stake in Bank of America in the 2nd quarter worth approximately $1,396,000. Finally, Vivaldi Capital Management LP lifted its position in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after buying an additional 355 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares of the company’s stock, 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 SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Bank of America Stock Down 1.4%

BAC stock opened at $60.41 on Tuesday. 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 Corporation has a 1 year low of $44.75 and a 1 year high of $62.12. The company has a fifty day simple moving average of $55.50 and a 200 day simple moving average of $53.17. The firm has a market cap of $428.70 billion, a PE ratio of 13.86, a PEG ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The firm 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. Sell-side analysts anticipate that Bank of America Corporation will post 4.64 EPS for the current fiscal year.

Bank of America Announces Dividend

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

Key Bank of America News

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?

Wall Street Analysts Forecast Growth

BAC has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Wells Fargo & Company increased their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. The Goldman Sachs Group lifted their price objective 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. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, Barclays upped their target price on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $63.77.

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.