Bank of America Corporation $BAC Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 24.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,082,510 shares of the financial services provider’s stock after selling 1,024,597 shares during the quarter. Bank of America comprises about 3.4% of Ontario Teachers Pension Plan Board’s holdings, making the stock its 7th biggest holding. Ontario Teachers Pension Plan Board’s holdings in Bank of America were worth $159,027,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Bank of America during the second quarter worth about $5,091,641,000. Arrowstreet Capital Limited Partnership increased its stake in Bank of America by 124.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after acquiring an additional 9,782,208 shares during the period. ABN AMRO Bank N.V. acquired a new position in Bank of America in the second quarter valued at about $202,439,000. OMERS ADMINISTRATION Corp increased its stake in Bank of America by 881.5% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after acquiring an additional 3,781,417 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of Bank of America by 96.5% during the 2nd quarter. LSV Asset Management now owns 6,882,719 shares of the financial services provider’s stock worth $325,690,000 after buying an additional 3,379,335 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 1.2%

Shares of NYSE BAC opened at $53.39 on Thursday. The business has a 50-day moving average of $54.37 and a 200-day moving average of $52.17. The firm has a market capitalization of $389.84 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.29 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Bank of America’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s payout ratio is 29.24%.

Bank of America News Summary

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

• Positive Sentiment: BofA announced a new, no‑fee BofA Rewards program that expands eligibility to more than 30 million clients and launches May 27 — a move that can boost card spend, deposits and cross‑sell opportunities across consumer and Merrill relationships. New BofA Rewards Program to Reach Millions More Clients with Expanded Benefits
• Positive Sentiment: Bank of America Private Bank launched an art consulting service for wealthy clients — a niche, fee‑based offering that can deepen relationships, support higher‑margin lending (art as collateral) and grow AUM in the private bank/Merrill channels. Bank of America Launches Art Consulting Service
• Positive Sentiment: Analyst and retail coverage notes BofA’s dividend profile and valuation (coverage such as Zacks) — supporting the narrative that BAC is an income/value play for investors focused on yield and steady earnings. Bank of America (BAC) Could Be a Great Choice
• Neutral Sentiment: BofA research has been prominent in industry commentary on AI — its surveys say fund managers see an AI spending “bubble” and that AI will separate winners and losers among banks; this flags both upside from successful AI deployment and execution risk if BofA or peers misstep. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Neutral Sentiment: Options/quant pieces are highlighting mean‑reversion trades on BAC — these note the stock’s technical setup more than fundamentals, which can amplify intraday moves but don’t change the long‑term thesis. Bank of America Stock (BAC) Offers Mean-Reversion Options Trade
• Neutral Sentiment: Reports on executive pay rising after earnings growth (CEO compensation coverage) are drawing governance attention but are unlikely to materially change earnings outlook. Bank of America CEO Brian Moynihan sees compensation rise following earnings growth
• Negative Sentiment: Berkshire Hathaway (Warren Buffett) trimmed its Bank of America stake, and coverage reported a sizable reduction of BofA holdings — big shareholder selling can weigh on sentiment and add supply pressure to the stock. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position Warren Buffett Sold 29% of Bank of America and Bought This Consumer Stock for 4 Consecutive Quarters
• Negative Sentiment: Coverage that BofA dramatically increased a stake in a struggling crypto company (reported as a 1,668% increase) raises questions about risk exposure and could spook some investors focused on conservative capital deployment. Bank of America hikes stake in sinking crypto stock by 1,668%

Analysts Set New Price Targets

Several research firms have recently issued reports on BAC. Ameriprise Financial raised Bank of America to a “buy” rating in a research note on Wednesday, October 22nd. TD Cowen lowered their target price on Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 15th. CICC Research started coverage on shares of Bank of America in a report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective on the stock. Daiwa Securities Group decreased their price target on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Finally, Wells Fargo & Company raised their target price on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

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.