Bank of America Corporation $BAC Stock Position Reduced by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC trimmed its Bank of America stake by 0.5% in the fourth quarter, but still held 3.67 million shares worth about $201.7 million, making BAC its sixth-largest position.
• Institutional ownership remains very high at 70.71%, and several major funds increased or initiated large positions in the bank during recent quarters, including Norges Bank, Capital International Investors, and Vanguard.
• Analysts remain broadly positive on Bank of America: the stock has a consensus rating of “Moderate Buy” with an average target price of $61.06, while the company also reported better-than-expected quarterly earnings and revenue and pays a $0.28 quarterly dividend.

Great Lakes Advisors LLC lowered its stake in Bank of America Corporation (NYSE:BAC) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,668,045 shares of the financial services provider's stock after selling 17,182 shares during the quarter. Bank of America comprises approximately 1.6% of Great Lakes Advisors LLC's holdings, making the stock its 6th largest holding. Great Lakes Advisors LLC owned 0.05% of Bank of America worth $201,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of BAC. Norges Bank purchased a new stake in Bank of America in the 4th quarter worth $4,774,210,000. Capital International Investors purchased a new stake in Bank of America in the 4th quarter worth $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Bank of America by 640.5% in 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Bank of America by 11.0% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Keefe, Bruyette & Woods boosted their target price on shares of Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a report on Friday, April 24th. UBS Group boosted their target price on shares of Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Finally, HSBC boosted their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction dated 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 directly 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 is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America launched new client offerings, including pay-over-time tools, an expanded rewards program, and credit monitoring features, which could support card usage, customer retention, and fee revenue. Bank of America Introduces New Ways to Reward Clients, Manage Payments and Track Credit
• Positive Sentiment: The bank is planning real-time global payments through Swift and CashPro, a move that could boost fee income and strengthen client relationships over time. BAC Plans to Launch Real-Time Global Payments: A Fee Revenue Catalyst?
• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Bank of America NYSE: BAC, suggesting more confidence in the company’s longer-term earnings outlook. Bank of America Corporation - Free Report
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, trade, and FX solutions in Asia-Pacific, reinforcing a constructive outlook for its global payments and transaction banking business. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Neutral Sentiment: Bank of America declared preferred stock dividends for multiple series, a routine capital-return update that is not likely to materially move the common stock. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Neutral Sentiment: Several articles referenced Bank of America’s market-timing and stock-market warning indicators, which may reflect caution on broader equities rather than a direct operational issue for BAC. Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
• Negative Sentiment: The Justice Department’s subpoena probe into alleged “debanking,” which includes Bank of America, adds regulatory overhang and could create headlines risk for the shares. US Justice Department subpoenas major banks over alleged 'debanking', WSJ reports

Bank of America Stock Performance

Shares of NYSE:BAC opened at $55.17 on Friday. The company has a market capitalization of $391.48 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.92 and a beta of 1.18. Bank of America Corporation has a 12 month low of $43.66 and a 12 month high of $57.55. The firm's 50-day moving average is $52.16 and its 200 day moving average is $52.39. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. Research analysts predict that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio is presently 27.72%.

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.

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