Gateway Investment Advisers LLC Sells 206,932 Shares of Bank of America Corporation $BAC

Gateway Investment Advisers LLC trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC) by 12.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,465,013 shares of the financial services provider’s stock after selling 206,932 shares during the period. Bank of America makes up approximately 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 24th largest position. Gateway Investment Advisers LLC’s holdings in Bank of America were worth $83,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after purchasing an additional 23,351,183 shares during the last quarter. Norges Bank purchased a new position in Bank of America in the fourth quarter worth about $4,774,210,000. Bank of New York Mellon Corp lifted its stake in shares of Bank of America by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after buying an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Bank of America by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Bank of America by 5.9% during the fourth quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock valued at $2,594,488,000 after buying an additional 2,611,776 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.9%

Bank of America stock opened at $64.21 on Friday. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.20. The stock has a fifty day moving average of $59.56 and a 200 day moving average of $54.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $449.03 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.32 dividend. The ex-dividend date is Friday, September 4th. This is a boost from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.0%. Bank of America’s payout ratio is 25.69%.

Analyst Upgrades and Downgrades

BAC has been the topic of several analyst reports. Piper Sandler upped their price objective on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Evercore set a $63.00 price target on Bank of America and gave the company an “outperform” rating in a report on Monday, July 6th. Daiwa Securities Group increased their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley boosted their target price on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America agreed to invest up to approximately $1.9 billion for a 49.9% stake in Jio Credit, the lending subsidiary of India’s Jio Financial Services. The partnership gives BAC access to Jio’s digital distribution network and exposure to India’s expanding consumer-credit market; the initial investment is expected to provide a 26.5% stake, with warrants potentially increasing ownership. BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit
• Positive Sentiment: BAC launched an 18-month initiative to mobilize and deploy $250 billion toward U.S. digital, energy, power and core infrastructure projects. The program could generate lending, investment, capital-markets and advisory revenue, particularly from data-center and AI-related construction. Bank of America launches $250 billion initiative for US tech, energy infrastructure
• Positive Sentiment: An analyst raised Bank of America’s fiscal 2026 EPS estimate, adding to the view that earnings momentum remains favorable. The bank previously reported quarterly EPS of $1.21, above the $1.13 consensus, with revenue up 19.6% year over year. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Neutral Sentiment: Firm interest rates remain a key focus. Higher rates can support net-interest income, but continued or additional Federal Reserve tightening could pressure credit demand, bond portfolios and the broader economy. BofA Exec Still Calls For 3 Fed Hikes After July CPI
• Negative Sentiment: The Jio transaction requires substantial capital and regulatory approvals, while the benefits from building the Indian lending platform will take time to materialize. Investors may therefore be balancing long-term growth potential against near-term execution and return-on-investment uncertainty. Bank of America Jio Credit joint venture announcement

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.