Bank of America Corporation $BAC Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Bank of America Corporation (NYSE:BAC) by 11.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,314,418 shares of the financial services provider’s stock after selling 1,697,033 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bank of America were worth $724,704,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BAC. Mirae Asset Global Investments Co. Ltd. acquired a new position in Bank of America during the 3rd quarter worth $102,205,000. Stevens Capital Partners purchased a new stake in Bank of America during the 3rd quarter worth about $256,000. Profund Advisors LLC raised its position in Bank of America by 9.7% in the 3rd quarter. Profund Advisors LLC now owns 62,051 shares of the financial services provider’s stock valued at $3,377,000 after purchasing an additional 5,491 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Bank of America in the 3rd quarter valued at about $23,497,000. Finally, Investment Partners LTD. raised its position in Bank of America by 52.2% in the 3rd quarter. Investment Partners LTD. now owns 11,380 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 3,904 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

Bank of America Stock Performance

Shares of BAC opened at $50.03 on Friday. The company’s 50 day simple moving average is $56.44 and its 200-day simple moving average is $54.96. The firm has a market cap of $349.85 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same quarter last year, the company posted $1.06 EPS. Bank of America’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Bank of America Corporation will post 4.52 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, December 4th. Bank of America’s dividend payout ratio is 30.40%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial lowered their price objective on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Royal Bank Of Canada reduced their target price on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Evercore set a $62.00 price target on shares of Bank of America in a research note on Thursday, October 1st. UBS Group lowered their price target on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.70.

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.