Bank of America Corporation $BAC Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its stake in Bank of America by 6.3% in Q4, selling 1,103,851 shares and now holding 16,334,615 shares worth about $898.4 million (roughly 0.22% of BAC and 0.5% of the fund's portfolio, its 26th largest holding).
• Bank of America beat EPS estimates with $0.98 versus $0.96 consensus and reported revenue up 12.3% year-over-year, and the company pays a $0.28 quarterly dividend (annualized $1.12, ~2.1% yield).
• Insiders sold 227,832 shares (~$11.1 million) over the last quarter, while analysts hold a consensus "Moderate Buy" rating with a $59.10 average price target amid mixed price-target revisions.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Bank of America Corporation (NYSE:BAC) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,334,615 shares of the financial services provider's stock after selling 1,103,851 shares during the period. Bank of America comprises about 0.5% of Sumitomo Mitsui Trust Group Inc.'s investment portfolio, making the stock its 26th biggest holding. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Bank of America worth $898,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $27,000. Steph & Co. raised its holdings in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider's stock valued at $28,000 after buying an additional 379 shares during the last quarter. Marquette Asset Management LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $30,000. Collier Financial bought a new stake in shares of Bank of America during the third quarter valued at approximately $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Bank of America during the third quarter valued at approximately $31,000. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $52.56 on Friday. Bank of America Corporation has a 12 month low of $34.81 and a 12 month high of $57.55. The stock has a market cap of $375.56 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.92 and a beta of 1.23. The stock's 50 day moving average price is $50.59 and its 200 day moving average price is $52.20. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC - Get Free Report) last announced 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 firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $27.73 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.1%. Bank of America's payout ratio is presently 29.24%.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider owned 170,184 shares of the company's stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Demare sold 83,832 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. The trade was a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 over the last quarter. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BAC shares. Evercore cut their price target on Bank of America from $59.00 to $55.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. cut their price target on Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Barclays lifted their price target on Bank of America from $59.00 to $71.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Finally, HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $57.00 price target on the stock in a report on Wednesday, April 1st. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.10.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: KBW says largest banks now trade at higher multiples than smaller banks, a relative-valuation tailwind for big-cap lenders like BAC as investors re-rate scale and franchise advantages. Largest banks trade at higher multiples than smaller banks now, says KBW's Chris McGratty
• Positive Sentiment: Several analysts have revised earnings forecasts ahead of BAC’s Q1 report (consensus ~ $1.01/sh), which raises expectations that a modest beat could lift the stock on the print. Bank of America Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Positive Sentiment: An analyst raised FY2026 EPS forecasts for BAC, signaling some upward revision risk to estimates that could support the stock if confirmed by results. FY2026 EPS Forecast for Bank of America Increased by Analyst
• Positive Sentiment: BAC is highlighted for OCIO leadership and involvement in potential large AI data-center financing (Oracle project), which points to meaningful investment-banking/credit revenue opportunities. Bank Of America’s OCIO Leadership And AI Financing Set Against Valuation
• Neutral Sentiment: BofA research upgraded its semiconductor view and flagged AI “picks-and-shovels” (Cadence, Synopsys) — a sign of research strength that indirectly supports fee businesses but doesn’t move BAC’s core banking metrics. Bank of America Wants You to Buy the Dip in These 2 Picks-and-Shovels AI Stocks
• Neutral Sentiment: BofA reiterates a view that the Fed is likely to cut rates this year — a macro forecast that has mixed implications for bank net interest margins and stock multiple direction. BofA explains why Fed is likely to deliver rate cuts this year
• Negative Sentiment: UBS trimmed its BAC price target to $62, signaling reduced upside from that shop and contributing to downward pressure on the stock. UBS Group Cuts Bank of America NYSE: BAC Price Target to $62.00
• Negative Sentiment: JPMorgan also lowered its BAC price target to $57.50, adding to analyst-driven headwinds into the earnings print. JPMorgan Chase & Co. Lowers Bank of America NYSE: BAC Price Target to $57.50

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.

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