Leonteq Securities AG Sells 18,039 Shares of Bank of America Corporation $BAC

Leonteq Securities AG lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 182,007 shares of the financial services provider’s stock after selling 18,039 shares during the period. Leonteq Securities AG’s holdings in Bank of America were worth $8,873,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BAC. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the third quarter worth about $27,000. Legacy Bridge LLC increased its holdings in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares during the period. CrossGen Wealth LLC purchased a new position in Bank of America during the 4th quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new position in Bank of America during the 4th quarter valued at approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of several research analyst reports. Evercore dropped 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. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday. Daiwa Securities Group raised their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. UBS Group raised their price target on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Finally, HSBC boosted their price objective on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

Bank of America Stock Up 0.5%

BAC stock opened at $58.67 on Friday. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $59.19. The company has a market capitalization of $416.35 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business’s 50 day moving average price is $53.71 and its two-hundred day moving average price is $52.78. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, analysts forecast that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a $0.28 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 27.72%.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated 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 transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Analysts continue to view BAC as undervalued, with Morgan Stanley recently raising its price target and calling the stock attractive relative to peers, which supports the bullish case for the shares. Bank of America (BAC) Stock Looks Reasonable On Earnings But Stretched Versus Fair Value
• Positive Sentiment: The bank’s recent earnings strength and expectations for another strong quarter remain a key tailwind, with investors focusing on continued profit growth and solid revenue trends ahead of the next report. Bank of America (BAC) Stock Looks Reasonable On Earnings But Stretched Versus Fair Value
• Neutral Sentiment: Several articles framed BAC as a reasonable value-and-income play versus Wells Fargo and highlighted ongoing strength in the megabank group, but these pieces are more comparative than company-specific catalysts. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Bank of America’s own strategists have been active in market commentary, including warnings about a possible S&P 500 correction and broader rotation into “boring” stocks, but those views mainly reflect macro positioning rather than a direct BAC earnings catalyst. S&P 500 Faces Risk of a ‘Three-Wave Correction,’ Warns Bank of America
• Negative Sentiment: Senate Democrats are asking the Fed inspector general to review whether a Fed official violated rules by speaking at a private Bank of America client dinner, creating a modest regulatory and reputational overhang for BAC. US Senator Warren calls for Fed watchdog review of Bowman’s BofA dinner, WSJ reports
• Negative Sentiment: Bank of America’s Merrill Lynch unit was also fined by the SEC, which adds to headline risk even though the penalty appears relatively limited in size. Bank of America’s Merrill Lynch unit fined $7.5M by U.S. SEC

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.