Sumitomo Mitsui Trust Group Inc. Has $899.65 Million Stake in Bank of America Corporation $BAC

Sumitomo Mitsui Trust Group Inc. boosted its position in Bank of America Corporation (NYSE:BAC) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,438,466 shares of the financial services provider’s stock after purchasing an additional 875,514 shares during the period. Bank of America comprises 0.5% of Sumitomo Mitsui Trust Group Inc.’s holdings, making the stock its 29th largest position. Sumitomo Mitsui Trust Group Inc.’s holdings in Bank of America were worth $899,650,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Permanent Capital Management LP bought a new stake in Bank of America in the 3rd quarter valued at about $649,000. Boston Common Asset Management LLC raised its position in shares of Bank of America by 10.5% in the second quarter. Boston Common Asset Management LLC now owns 259,680 shares of the financial services provider’s stock valued at $12,288,000 after buying an additional 24,740 shares in the last quarter. Disciplined Investments LLC bought a new stake in shares of Bank of America in the second quarter valued at approximately $217,000. Sunbeam Capital Management LLC grew its position in Bank of America by 7.3% during the second quarter. Sunbeam Capital Management LLC now owns 6,476 shares of the financial services provider’s stock worth $306,000 after buying an additional 439 shares in the last quarter. Finally, CCG Wealth Management LLC bought a new position in Bank of America during the 2nd quarter worth $287,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC opened at $55.81 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $407.52 billion, a PE ratio of 15.21 and a beta of 1.29. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The business has a 50-day simple moving average of $54.14 and a two-hundred day simple moving average of $51.04.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $27.05 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America’s dividend payout ratio is presently 30.52%.

Bank of America News Roundup

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong‑Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax‑equity investments and is pushing into fixed‑income & digital‑asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near‑term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Morgan Stanley reduced their price target on shares of Bank of America from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Ameriprise Financial upgraded shares of Bank of America to a “buy” rating in a research report on Wednesday, October 22nd. Finally, Seaport Global Securities raised their target price on Bank of America from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.82.

Bank of America 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.