Robeco Institutional Asset Management B.V. Purchases 1,246,634 Shares of Bank of America Corporation $BAC

Robeco Institutional Asset Management B.V. lifted its position in Bank of America Corporation (NYSE:BAC) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,443,813 shares of the financial services provider’s stock after acquiring an additional 1,246,634 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Bank of America were worth $459,597,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America during the second quarter valued at $25,000. Cherry Tree Wealth Management LLC raised its position in Bank of America by 167.6% during the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after buying an additional 300 shares during the period. Principia Wealth Advisory LLC lifted its stake in Bank of America by 69.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 218 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in Bank of America in the 2nd quarter worth about $34,000. Finally, Vermillion Wealth Management Inc. lifted its stake in Bank of America by 199.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Evercore set a $62.00 price target on shares of Bank of America in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Monday. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Thursday, October 15th. Finally, Oppenheimer lowered shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.82.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s second-quarter average loans rose 8% year over year while deposits increased 2%. Despite the uneven growth, net interest income climbed 9%, suggesting the bank is generating stronger returns from its deposit base and lending franchise. Bank of America Deposit Franchise Article
• Positive Sentiment: Bank of America was upgraded to a Buy rating by JLPascual. Other recent commentary indicated that the previously announced regulatory fine and earnings-related weakness may already be reflected in the stock, supporting the potential for a recovery. Bank of America Buy Upgrade
• Neutral Sentiment: The bank launched another investment-grade bond offering, including perpetual notes, shortly after raising $8 billion. The issuance may strengthen funding and capital flexibility, although it also adds financing costs and highlights continued reliance on wholesale markets. Bank of America Bond Sale
• Neutral Sentiment: Bank of America disclosed higher indirect stakes in Qiagen, ICU Girişim Sermayesi and Link Bilgisayar. These appear to be investment or regulatory ownership disclosures rather than changes to the core banking business. Qiagen Stake Disclosure
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged investor misstatements concerning anti-money-laundering and sanctions-compliance failures. The litigation follows more than $1.2 billion in federal penalties and creates potential legal costs and reputational damage. BAC Securities Class Action Alert
• Negative Sentiment: The latest reported quarter missed consensus estimates on both earnings and revenue, while broad bank stocks remain under pressure from rising Treasury yields and uncertainty over Federal Reserve policy. Bank Stocks Under Pressure

Bank of America Price Performance

BAC opened at $50.59 on Wednesday. The stock has a market cap of $353.77 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.86 and a beta of 1.21. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average price of $58.52 and a 200 day moving average price of $56.77.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The firm had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. Analysts forecast that Bank of America Corporation will post 4.54 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a $0.32 dividend. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is presently 30.40%.

Bank of America Company Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.