Resona Asset Management Co. Ltd. Decreases Position in Bank of America Corporation $BAC

Key Points

• Resona Asset Management reduced its Bank of America stake by 5.6% in the fourth quarter, selling 128,960 shares and leaving it with 2.16 million shares valued at about $119.2 million.
• Bank of America reported better-than-expected Q1 earnings, with EPS of $1.11 versus the $1.00 estimate and revenue of $30.27 billion, while analysts now expect 4.46 EPS for the full year.
• The bank also declared a $0.28 quarterly dividend, or $1.12 annualized, implying a 2.2% yield; meanwhile, Wall Street sentiment remains constructive with a Moderate Buy consensus and an average price target of $61.06.

Resona Asset Management Co. Ltd. lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,164,999 shares of the financial services provider's stock after selling 128,960 shares during the period. Bank of America accounts for 0.6% of Resona Asset Management Co. Ltd.'s investment portfolio, making the stock its 26th biggest holding. Resona Asset Management Co. Ltd.'s holdings in Bank of America were worth $119,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Legacy Bridge LLC increased its stake in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the 3rd quarter worth approximately $27,000. Collier Financial purchased a new stake in shares of Bank of America during the 3rd quarter worth approximately $30,000. Joseph Group Capital Management purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $32,000. Finally, HFM Investment Advisors LLC increased its stake in shares of Bank of America by 566.0% during the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock worth $34,000 after purchasing an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s own analysts continued to sound constructive on several AI-linked tech names, including Micron, NVIDIA and ServiceNow, with higher price targets and Buy ratings. That can reinforce BAC’s reputation for having influential research coverage and may reflect confidence in broader market conditions that support investment banking and trading activity. BofA Remains a Buy on Micron (MU), Raises PT
• Positive Sentiment: Separate coverage also highlighted Bank of America’s digital banking strength, noting that the bank tied for first place in a Keynova Group ranking. That supports the view that BAC is improving customer experience and competing effectively on technology, which is important for long-term deposit retention and efficiency. Bank Of America’s Digital Win And What It Means For Investors
• Neutral Sentiment: Bank of America agreed to a $2.25 million settlement in a 7-Eleven ATM lawsuit tied to certain account holders. The dollar amount is small relative to BAC’s size, so the financial impact appears limited, though it adds another legal headline. Bank of America agrees to $2.25M settlement in 7-Eleven ATM lawsuit
• Neutral Sentiment: One article pointed to a change in Bank of America’s economic exposure to CA Immo, but this appears to be a holdings disclosure rather than a direct operating development for BAC. It is unlikely to drive the stock on its own. Bank of America lifts economic exposure to CA Immo to 4.15%
• Negative Sentiment: One market note warned that credit conditions may deteriorate in the second half of 2026, which would be a concern for large banks like BAC because it could pressure loan growth and increase credit losses. Best Bank Stocks to Buy in 2026
• Negative Sentiment: Another article framed Bank of America as one of several S&P 500 names facing concerns, suggesting some investors still see structural or execution risks. That kind of caution can weigh on sentiment, even if it is not tied to a fresh BAC-specific earnings miss. 3 S&P 500 Stocks That Concern Us

Bank of America Stock Up 1.7%

Shares of NYSE:BAC opened at $50.64 on Tuesday. The firm has a fifty day moving average price of $50.42 and a two-hundred day moving average price of $52.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. Bank of America Corporation has a one year low of $42.35 and a one year high of $57.55. The company has a market cap of $359.36 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.84 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last announced 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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The firm had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same period last year, the firm earned $0.90 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the subject of several research analyst reports. Daiwa Securities Group raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Argus raised their price objective on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Evercore cut their price objective on shares of Bank of America from $70.00 to $61.00 and set an "outperform" rating for the company in a report on Friday. Finally, Truist Financial raised their price objective on shares of Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insider Activity

In other Bank of America news, insider James P. Demare sold 83,832 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider directly owned 307,240 shares of the company's stock, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,588 shares of company stock valued at $17,814,296 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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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