TIAA Trust National Association Increases Position in Bank of America Corporation $BAC

Key Points

• TIAA Trust National Association increased its Bank of America stake by 2.5% in the fourth quarter, buying 17,478 shares and bringing its total holding to 707,724 shares worth about $38.9 million.
• Analyst sentiment remains mostly positive: Bank of America has a consensus rating of “Moderate Buy” with a consensus price target of $61.06, though several firms recently trimmed or raised targets and ratings.
• Bank of America reported better-than-expected first-quarter results, posting EPS of $1.11 on revenue of $30.27 billion, and it also announced a quarterly dividend of $0.28 per share to be paid June 26.

TIAA Trust National Association increased its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,724 shares of the financial services provider's stock after buying an additional 17,478 shares during the quarter. TIAA Trust National Association's holdings in Bank of America were worth $38,925,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the third quarter valued at $27,000. Legacy Bridge LLC grew its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after buying an additional 330 shares during the last quarter. Joseph Group Capital Management purchased a new stake in shares of Bank of America during the fourth quarter valued at $32,000. HFM Investment Advisors LLC grew its holdings in shares of Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider's stock valued at $34,000 after buying an additional 532 shares during the last quarter. Finally, Coston McIsaac & Partners grew its holdings in shares of Bank of America by 90.2% during the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider's stock valued at $36,000 after buying an additional 314 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BAC. JPMorgan Chase & Co. dropped their price objective on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Truist Financial boosted their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Autonomous Res lowered their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Finally, Erste Group Bank lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

Insider Buying and Selling at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the business'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. The trade was a 35.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America and other large U.S. banks are moving ahead with a shared tokenized deposit network, which could help BAC defend its payments franchise and participate in faster, blockchain-based money movement as stablecoin competition heats up. Bank Of America Joins Tokenized Deposit Network To Defend Payments Business
• Positive Sentiment: Analyst coverage continues to frame Bank of America as a strong large-cap bank with global scale, diversified revenue, and a solid deposit base that could benefit from better capital-markets activity and a more favorable rate environment. Bank of America vs. Truist: Which Bank Offers Better Upside in 2026?
• Neutral Sentiment: Bank of America also highlighted broader banking innovation by joining discussions around tokenized deposits, reinforcing its role in next-generation payments, though this is more of a long-term strategic theme than a near-term earnings driver. Big Banks Eye Tokenized Deposits as Stablecoin Competition Heats Up
• Neutral Sentiment: BofA’s analysts have also been active across other stocks, including upgrades and price-target changes, but these calls do not directly change BAC’s fundamentals. UnitedHealth Stock Jumps on Upgrade From Bank of America. UNH Is No Longer Just an Insurance Company.
• Negative Sentiment: In contrast, Bank of America’s market commentary has turned more defensive: it warned that only 20 S&P 500 stocks hit record highs in May, a level it views as reminiscent of past late-cycle market peaks. Bank of America says only 20 S&P 500 stocks hit record highs in May — the same number as the dot-com bubble peak in 2000
• Negative Sentiment: Another BofA warning said investors should “take profits” as multiple bear-market signposts are flashing, and the firm cautioned that a further market drop could trigger systematic selling. That kind of risk-off message can weigh on sentiment for BAC and the broader banking group. Time to ‘Take Profits,’ Warns BofA as ‘Bear Market Signposts’ Flash Red

Bank of America Trading Down 0.4%

BAC stock opened at $53.62 on Tuesday. The company's 50-day simple moving average is $51.73 and its 200-day simple moving average is $52.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. The firm has a market cap of $380.48 billion, a P/E ratio of 13.27, a PEG ratio of 0.91 and a beta of 1.19.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period in the prior year, the company posted $0.90 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business 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 $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's payout ratio is presently 27.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.