Sound Shore Management Inc. CT Decreases Stake in Bank of America Corporation $BAC

Posted by Donald Scott on Jun 4th, 2026

Sound Shore Management Inc. CT lessened its stake in Bank of America Corporation (NYSE:BAC) by 16.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,577,921 shares of the financial services provider’s stock after selling 301,769 shares during the quarter. Bank of America makes up about 2.8% of Sound Shore Management Inc. CT’s holdings, making the stock its 17th biggest holding. Sound Shore Management Inc. CT’s holdings in Bank of America were worth $86,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAC. Norges Bank purchased a new position in Bank of America in the 4th quarter worth approximately $4,774,210,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 acquiring an additional 40,235,201 shares during the period. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 23,351,183 shares during the period. Capital World Investors boosted its holdings 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 acquiring an additional 14,275,810 shares during the period. Finally, American Assets Investment Management LLC boosted its holdings in Bank of America by 1,248.5% in the 4th quarter. American Assets Investment Management LLC now owns 15,224,325 shares of the financial services provider’s stock worth $837,338,000 after acquiring an additional 14,095,375 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $52.46 on Thursday. The business’s 50 day moving average is $51.40 and its two-hundred day moving average is $52.28. 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 $372.27 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.89 and a beta of 1.18. 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 (NYSE:BAC – Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company 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. Bank of America’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts forecast that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio is currently 27.72%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of analyst reports. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Piper Sandler upped their price target on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Jefferies Financial Group upped their price target on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group upped their price target on Bank of America from $62.00 to $63.00 in a report on Wednesday, May 6th. Finally, Robert W. Baird upped their target price on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $61.06.

Check Out Our Latest Stock Report on BAC

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on 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 approximately $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Key Bank of America News

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

Positive Sentiment: Bank of America said it will hire nearly 4,000 summer interns and campus recruits this year, signaling continued investment in talent even as AI changes the labor market. BofA to Welcome Nearly 4,000 Summer Interns and Campus Recruits
Positive Sentiment: The bank partnered with FIFA and Vet Tix to provide $2.25 million in free World Cup tickets to veterans, military members, first responders and their families, supporting its consumer-facing brand and community profile. Bank of America and FIFA partner with Vet Tix to Offer Thousands of Free FIFA World Cup 2026 Tickets
Positive Sentiment: Analysts highlighted Bank of America’s large deposit base as a strength, saying its low-cost funding supports net interest income and earnings growth across rate cycles. Does Bank of America’s Deposit Franchise Power Earnings Growth?
Neutral Sentiment: CEO Brian Moynihan discussed consumer spending, affordability, lending and AI investment, reinforcing the bank’s focus on growth but offering no immediate catalyst by itself. BofA CEO Moynihan on Affordability, Lending and AI Spending
Neutral Sentiment: Bank of America disclosed that it exited a substantial stake in Dyno Nobel, a routine portfolio adjustment that is not clearly tied to BAC’s core banking outlook. Bank of America exits substantial stake in Dyno Nobel

Bank of America Profile

(Free Report)

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.