Bank of America Corporation $BAC Stock Holdings Lessened by Arizona State Retirement System

Key Points

• Arizona State Retirement System trimmed its stake in Bank of America by 5.4%, selling 112,854 shares and holding 1,977,535 shares valued at about $108.8 million, roughly 0.6% of its portfolio.
• Insider selling has been notable—company insiders sold 227,832 shares worth about $11.1 million in the past 90 days (including Bernard Mensah and James Demare), leaving insiders with about 0.27% ownership.
• Operational & shareholder update: BAC beat Q1 estimates (EPS $1.11 vs. $1.00; revenue $30.27B, +10.7% YoY), declared a $0.28 quarterly dividend (2.1% yield), and retains a consensus “Moderate Buy” with an average price target of $60.90.

Arizona State Retirement System lowered its holdings in Bank of America Corporation (NYSE:BAC) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,977,535 shares of the financial services provider's stock after selling 112,854 shares during the period. Bank of America comprises about 0.6% of Arizona State Retirement System's investment portfolio, making the stock its 22nd biggest holding. Arizona State Retirement System's holdings in Bank of America were worth $108,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. Capital World Investors increased its position in Bank of America by 11.0% in the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock worth $7,448,816,000 after buying an additional 14,275,810 shares during the period. Danske Bank A S bought a new stake in Bank of America in the third quarter valued at $224,863,000. Capitolis Liquid Global Markets LLC lifted its stake in Bank of America by 52.0% in the third quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider's stock valued at $644,681,000 after buying an additional 4,273,472 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Bank of America during the third quarter valued at $218,030,000. 70.71% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the sale, the insider directly owned 170,184 shares of the company's stock, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Demare sold 83,832 shares of the firm'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 transaction of $4,191,600.00. Following the sale, the insider owned 307,240 shares of the company's stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock worth $11,094,960 in the last 90 days. Company insiders own 0.27% of the company's stock.

Bank of America Trading Down 1.2%

NYSE:BAC opened at $52.50 on Friday. The stock has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $52.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $375.18 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.23. Bank of America Corporation has a 1-year low of $38.60 and a 1-year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business's quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that Bank of America Corporation will post 4.44 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America's payout ratio is currently 27.72%.

Analyst Ratings Changes

Several research firms have commented on BAC. Argus upped their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Wolfe Research downgraded Bank of America from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th. HSBC increased their price objective on Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. TD Cowen cut their target price on Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. Finally, Wells Fargo & Company boosted their price target on Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.90.

Key Bank of America News

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

• Positive Sentiment: Board declared a quarterly cash dividend of $0.28/share, payable June 26 — a direct return of capital that supports investor income and signals capital confidence. Bank of America Declares Second Quarter 2026 Stock Dividends
• Positive Sentiment: Underlying Q1 results remain a tailwind: the bank reported a better-than-expected quarter (strength in NII, fee businesses and controlled expenses), which continues to support earnings expectations and analyst optimism. 5 Insightful Analyst Questions From Bank of America’s Q1 Earnings Call
• Positive Sentiment: Independent analyst support: Jefferies reiterated a Buy and raised its price target after Q1, reflecting confidence in BAC’s earnings momentum and capital returns strategy. Analyst upgrades help underpin demand for the stock. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
• Positive Sentiment: Industry tailwind: major U.S. banks are returning record capital via buybacks and dividends in Q1—a supportive backdrop for BAC’s valuation and shareholder returns narrative. America's 8 Biggest Banks Are Returning Record Capital To Shareholders
• Positive Sentiment: Anchoring investor confidence: BAC remains a long-term holding in Warren Buffett’s portfolio, a signal that can reassure long‑term investors about franchise strength. Bank of America (BAC) Remains in Warren Buffett’s Portfolio Since 2011; See Why
• Neutral Sentiment: Corporate social responsibility/brand: BofA awarded 18 international art‑conservation grants, a reputational positive but unlikely to move near‑term stock direction materially. Historic Artworks Receive Funding through BofA's Art Conservation Project™
• Neutral Sentiment: Regulatory/portfolio note: Bank of America reported a transparency notification related to Umicore holdings (3% threshold crossing) — an institutional position disclosure with limited direct impact on BAC’s operating outlook. Umicore - Transparency notification by Bank of America Corporation
• Negative Sentiment: Broader market headwinds: Bank of America research flagged continued outflows from U.S. equities into international markets — sector rotation and risk‑off flows can pressure BAC even with solid fundamentals. Are investors turning bearish on US stocks? BofA flags outflows
• Negative Sentiment: Near-term technical/flow pressure: after the post‑earnings rally, some profit‑taking and below‑average intraday volume have coincided with the pullback — this explains today’s weaker tape despite the company-level positives.

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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.