Sumitomo Mitsui DS Asset Management Company Ltd Acquires 16,810 Shares of Bank of America Corporation $BAC

Key Points

• Sumitomo Mitsui DS Asset Management added 16,810 shares of Bank of America, raising its stake 1.2% to 1,474,641 shares valued at about $81.11 million per its latest 13F filing.
• Several large institutions also materially increased stakes—Vanguard added ~23.35M shares to hold 651.08M shares and UBS AM added ~40.24M shares to hold 46.52M shares—leaving roughly 70.71% of BAC owned by institutions.
• Bank of America recently beat quarterly estimates (EPS $1.11 vs $1.00; revenue $30.27B vs $29.72B) and announced a quarterly dividend of $0.28 per share (2.1% yield) payable June 26.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,474,641 shares of the financial services provider's stock after buying an additional 16,810 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Bank of America were worth $81,105,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 buying an additional 40,235,201 shares during the period. Vanguard Group Inc. increased its position 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 buying an additional 23,351,183 shares during the period. Capital World Investors increased its position in 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 period. Danske Bank A S bought a new position in Bank of America in the 3rd quarter worth approximately $224,863,000. Finally, Capitolis Liquid Global Markets LLC increased its position in Bank of America by 52.0% in the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider's stock worth $644,681,000 after buying an additional 4,273,472 shares during the period. 70.71% of the stock is owned by institutional investors.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Merrill’s wealth-advisor bench gets public recognition, reinforcing BofA’s lead in advisory distribution and brand strength — a steady source of fee revenue and client retention for BAC. 2,314 Merrill Advisors Recognized on the 2026 Forbes List
• Positive Sentiment: BofA Securities (Merrill Lynch Int’l) was appointed a joint corporate broker by Plus500 — a sign of dealflow and fee opportunities in BofA’s investment-banking franchise. Plus500 adds BofA Securities as joint corporate broker
• Positive Sentiment: Local partnership with the Portland Thorns names BofA as the club’s Official Wealth Management Partner — small near-term revenue impact but useful for brand, community outreach and HNW client pipeline. Portland Thorns announce Bank of America as partner
• Neutral Sentiment: Routine regulatory filing — BofA filed its latest 10-Q with the U.K. National Storage Mechanism (procedural update; watch for disclosures but not market-moving by itself). Bank of America Files Latest 10-Q
• Neutral Sentiment: BofA research commentary on topics from Take‑Two’s GTA6 pricing to midterms and tariffs illustrates the bank’s influence on sector views — useful for investors but not an immediate earnings driver for BAC itself. BofA on GTA 6 price point
• Negative Sentiment: BofA’s own market research has been cautionary — the firm warned Wall Street about stretched market internals and highlighted rate uncertainty — commentary that can weigh on bank multiples given sensitivity to interest rates and volatility. Bank of America issues blunt warning to Wall Street
• Negative Sentiment: Reporting and market stories flagged “rate uncertainty” as a drag on financial stocks broadly, a near-term headwind for BAC’s net interest income outlook and investor sentiment. BAC falls as rate uncertainty weighs on financials

Bank of America Price Performance

Shares of BAC stock opened at $53.13 on Wednesday. The stock's fifty day simple moving average is $50.34 and its 200 day simple moving average is $52.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $379.67 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a one year low of $40.56 and a one year high of $57.55.

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. The business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, analysts expect that Bank of America Corporation will post 4.46 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Insider Buying and Selling at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction on Wednesday, March 4th. The stock was 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 owned 307,240 shares in the company, valued at approximately $15,362,000. The trade was a 21.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares of the company's stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BAC shares. Evercore lifted their price objective on Bank of America from $55.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Argus lifted their price objective on Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Jefferies Financial Group lifted their price objective on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Robert W. Baird lifted their price objective on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Finally, Oppenheimer lifted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.02.

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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