Clearbridge Investments LLC Has $895.73 Million Stock Position in Bank of America Corporation $BAC

Key Points

• Clearbridge Investments reduced its Bank of America stake by 9.8% in the fourth quarter, selling 1.77 million shares and leaving it with 16.29 million shares worth about $895.7 million.
• Institutional ownership in BAC remains very high, with hedge funds and other investors holding 70.71% of the company. Several large funds, including Norges Bank, Capital International Investors, and Vanguard, also increased or established major positions.
• Bank of America recently reported better-than-expected quarterly results, posting EPS of $1.11 versus the $1.00 estimate and revenue of $30.27 billion. The company also announced a $0.28 quarterly dividend and analysts currently have a consensus Moderate Buy rating with a $61.06 price target.

Clearbridge Investments LLC lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 9.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,285,931 shares of the financial services provider's stock after selling 1,765,399 shares during the quarter. Bank of America comprises 0.7% of Clearbridge Investments LLC's holdings, making the stock its 28th biggest position. Clearbridge Investments LLC owned 0.22% of Bank of America worth $895,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. Norges Bank acquired a new position in Bank of America in the fourth quarter valued at about $4,774,210,000. Capital International Investors acquired a new position in Bank of America in the fourth quarter valued at about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Bank of America by 640.5% in the third 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 in the last quarter. Vanguard Group Inc. raised its stake in Bank of America by 3.7% in the fourth 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 in the last quarter. Finally, Capital World Investors raised its stake 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 valued at $7,448,816,000 after purchasing an additional 14,275,810 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

More Bank of America News

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

• Positive Sentiment: Bank of America announced a new cross-border real-time payments solution that will let corporate and institutional clients send and receive funds instantly via SWIFT or CashPro, a potentially meaningful growth driver for its global payments franchise. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Merrill, Bank of America’s wealth management unit, earned strong recognition across three 2026 Barron’s lists, reinforcing the quality of its advisory business and brand strength in wealth management. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron's Lists
• Positive Sentiment: Multiple articles highlighted bullish views on BAC, including references to broad analyst optimism and BAC being viewed as a low-cost stock with upside potential, which can help support investor confidence. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America and other major U.S. banks are moving ahead with a shared tokenized deposit network, a strategic industry initiative that is important long term but not an immediate earnings catalyst. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Bank of America also disclosed a 2.84% voting interest in QIAGEN, but the filing appears to be a routine ownership update rather than a major strategic shift for BAC. Bank of America Reports 2.84% Voting Interest in QIAGEN
• Negative Sentiment: Jim Cramer commented that something “not that great” may be happening at Bank of America, a bearish soundbite that could weigh on sentiment even though it was not tied to a specific fundamental warning. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company's 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 transaction, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.27% of the company's stock.

Bank of America Trading Down 0.6%

BAC opened at $53.87 on Friday. The company's 50 day moving average is $51.63 and its 200-day moving average is $52.30. Bank of America Corporation has a 1-year low of $43.66 and a 1-year high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $382.27 billion, a P/E ratio of 13.33, a PEG ratio of 0.91 and a beta of 1.18.

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

Bank of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAC. Evercore dropped their price target on Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Jefferies Financial Group boosted their price target on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. dropped their price target on Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Piper Sandler boosted their price target on Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

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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