Triglav Investments D.O.O. Sells 94,915 Shares of Bank of America Corporation $BAC

Triglav Investments D.O.O. trimmed its stake in Bank of America Corporation (NYSE:BAC) by 45.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,820 shares of the financial services provider’s stock after selling 94,915 shares during the period. Triglav Investments D.O.O.’s holdings in Bank of America were worth $5,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in shares of Bank of America in the 4th quarter worth $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at about $27,000. Legacy Bridge LLC raised its holdings in shares of Bank of America by 182.3% in 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 in the last quarter. CrossGen Wealth LLC purchased a new stake in shares of Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America in the 4th quarter worth approximately $32,000. Institutional investors own 70.71% of the company’s stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s consumer team said its latest report showed spending up 6.3%, the fastest pace in four years, with wage growth broad-based across all income groups. That suggests the U.S. consumer remains resilient, which is supportive for BAC’s lending and fee income outlook. BofA Consumer Chief: Spending Jumps 6.3% With Wage Growth Across “All Income Groups”
• Positive Sentiment: Financial funds saw their biggest inflow since January, according to Bank of America, signaling improved investor appetite for the sector ahead of bank earnings season. That kind of rotation can lift BAC and other large-cap financials. Financial funds steal the spotlight with biggest inflow since January, Bofa says
• Positive Sentiment: Analysts and market coverage continue to frame Bank of America’s upcoming July 14 earnings report as potentially strong, with expectations for healthy net interest income, fee income, and double-digit EPS growth. Strong results could extend the recent move higher in BAC shares. Bank of America Reports Q2 Earnings Next Week. What Investors Should Expect.
• Neutral Sentiment: Bank of America also continues to generate headlines through its analyst research, including bullish views on names like Meta, Nvidia, Micron, Costco, and homebuilders. These reports help reinforce BAC’s influence on Wall Street, but they are only an indirect driver of BAC stock itself. Meta Stock’s AI Chip Ambitions Are Reaching a ‘Positive Inflection,’ Says Bank of America
• Neutral Sentiment: Bank of America, N.A. announced redemptions of $2.6 billion of senior notes due in August 2026. The move is routine balance-sheet management and is not likely to materially affect the stock on its own. Bank of America, N.A. Announces Redemptions of $2,000,000,000 5.526% Senior Bank Notes and $600,000,000 Floating Rate Senior Bank Notes, Due August 2026

Insiders Place Their Bets

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Bank of America Trading Up 0.0%

Shares of NYSE:BAC opened at $59.67 on Monday. The business’s 50-day moving average is $54.50 and its 200 day moving average is $52.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $60.83. The firm has a market capitalization of $423.49 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter last year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that Bank of America Corporation will post 4.51 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

Analysts Set New Price Targets

BAC has been the subject of a number of analyst reports. Truist Financial upped their target price on Bank of America from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Jefferies Financial Group upped their price objective on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Wells Fargo & Company raised their price objective on Bank of America from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. UBS Group boosted their target price on shares of Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $62.19.

Bank of America 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.