Mitsubishi UFJ Trust & Banking Corp Sells 270,387 Shares of Bank of America Corporation $BAC

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Bank of America Corporation (NYSE:BAC) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 3,072,788 shares of the financial services provider’s stock after selling 270,387 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bank of America were worth $158,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Birch Financial Group LLC raised its holdings in shares of Bank of America by 479.9% during the third quarter. Birch Financial Group LLC now owns 55,304 shares of the financial services provider’s stock valued at $2,853,000 after acquiring an additional 45,768 shares in the last quarter. Drive Wealth Management LLC increased its position in Bank of America by 1.8% during the 3rd quarter. Drive Wealth Management LLC now owns 19,199 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 337 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Bank of America by 3.2% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 476,764 shares of the financial services provider’s stock valued at $24,596,000 after purchasing an additional 14,583 shares during the period. Lockheed Martin Investment Management Co. raised its holdings in Bank of America by 15.9% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after purchasing an additional 86,290 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Bank of America by 1.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 1,981,804 shares of the financial services provider’s stock worth $102,241,000 after purchasing an additional 26,466 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.3%

BAC stock opened at $51.75 on Friday. The business has a 50 day moving average of $54.06 and a 200 day moving average of $51.33. The firm has a market cap of $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAC. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, January 7th. Wall Street Zen downgraded Bank of America from a “hold” rating to a “sell” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods lowered their target price on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Barclays lifted their price target on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.74.

Trending Headlines about Bank of America

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

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.