Jennison Associates LLC Purchases 3,838,627 Shares of Bank of America Corporation $BAC

Key Points

• Jennison Associates increased its Bank of America stake by 193.6%$320.17 million or ~0.08% of BAC).
• Bank of America recently beat Q1 earnings ($1.11 vs. $1.00) with revenue up 10.7%, and is returning capital via ~$18.66B of buybacks (12 months through Sept 2025) plus a $0.28 quarterly dividend (2.1% yield).
• Institutional investors own ~70.71% of the stock and analysts show a consensus "Moderate Buy" with a $61.02 price target, while insiders sold about 227,832 shares in the last 90 days.

Jennison Associates LLC increased its position in Bank of America Corporation (NYSE:BAC - Free Report) by 193.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,821,274 shares of the financial services provider's stock after purchasing an additional 3,838,627 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Bank of America worth $320,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC lifted its position in Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider's stock worth $3,008,000 after purchasing an additional 20,591 shares during the period. Lockheed Martin Investment Management Co. lifted its holdings in shares of Bank of America by 15.9% during the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider's stock valued at $32,482,000 after acquiring an additional 86,290 shares during the period. World Equity Group Inc. lifted its holdings in shares of Bank of America by 21.8% during the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider's stock valued at $3,779,000 after acquiring an additional 13,119 shares during the period. AdvisorShares Investments LLC bought a new position in shares of Bank of America during the third quarter valued at $482,000. Finally, Mufg Securities Americas Inc. lifted its holdings in shares of Bank of America by 26.6% during the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider's stock valued at $10,262,000 after acquiring an additional 41,809 shares during the period. 70.71% of the stock is owned by institutional investors.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America extended its multi‑year co‑brand credit‑card agreement with Alaska Air — its largest co‑brand partnership — and the firm has been an active repurchaser (about $18.66B of buybacks in the 12 months through Sept 2025). Those items support recurring card fees and shareholder returns, a direct positive for BAC’s valuation. BAC Stock In Focus After Multi-Year Alaska Air Extension
• Positive Sentiment: Market flows are supportive: coverage noted BAC shares “climb” as Russell 1000 ETF activity draws attention, which can amplify upward moves as index/ETF rebalancing and flows lift large‑cap bank names. Bank Of America Stock Climbs As Russell 1000 ETF Watches
• Positive Sentiment: Analyst revisions are tilting mildly positive: Erste Group raised FY2026 and FY2027 EPS estimates for BAC, which supports forward earnings expectations and reduces downside from model re‑ratings. Erste Group raises FY2026/27 EPS estimates for Bank of America
• Neutral Sentiment: Bank of America research headlines (eg. a high‑profile silver price scenario of $309 and other sector notes) show an active equity/research franchise — useful for fee income but not an immediate driver of BAC equity moves. Silver Prices Have Pulled Back, But Bank of America Predicts They Could Soar to $309 Before the End of 2026. How?
• Neutral Sentiment: Research and macro commentary from BofA (e.g., on private‑credit BDC redemptions and “ignore sell‑in‑May” guidance) provide market color that can influence client positioning, but are indirect for BAC’s bank fundamentals. Private credit BDC redemption requests likely to peak in Q2 2026 – BofA
• Neutral Sentiment: BAC’s strategic capital deployment and portfolio moves (example: raising an indirect stake in CA Immo) are activity signals but currently neutral for the stock until they affect earnings or trigger material M&A outcomes. Bank of America Lifts Stake in CA Immo to 4.3% of Voting Rights

Bank of America Stock Performance

Shares of NYSE:BAC opened at $53.15 on Thursday. Bank of America Corporation has a twelve month low of $39.58 and a twelve month high of $57.55. The firm has a market cap of $379.77 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.89 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average of $50.32 and a 200-day moving average of $52.42.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $29.72 billion. During the same period last year, the company posted $0.90 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced 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 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 dividend payout ratio (DPR) is 27.72%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Oppenheimer lifted their price objective on Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. HSBC lifted their price objective on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, CICC Research assumed coverage on Bank of America in a report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 price objective for the company. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.02.

Insider Activity

In other news, insider Thomas M. Scrivener sold 50,000 shares of the firm's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction 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 owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is owned by corporate insiders.

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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