Payden & Rygel Has $29.38 Million Holdings in Bank of America Corporation $BAC

Payden & Rygel lessened its stake in shares of Bank of America Corporation (NYSE:BAC) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,400 shares of the financial services provider’s stock after selling 37,000 shares during the quarter. Bank of America comprises 2.4% of Payden & Rygel’s investment portfolio, making the stock its 7th biggest holding. Payden & Rygel’s holdings in Bank of America were worth $29,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Key Bank of America News

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

• Positive Sentiment: Large growth/fee opportunity — BofA plans to commit $25 billion of its own capital to expand private‑credit and direct‑lending activity, a move that can boost fee income, diversify lending channels and signal aggressive growth of non‑interest revenue. BofA commits $25 billion to private-credit deals, memo shows
• Positive Sentiment: Client acquisition and deposit strategy — BofA is redesigning a no‑fee rewards program aimed at expanding relationships with checking clients (potentially ~30M more), which could deepen deposit balances and cross‑sell into cards and wealth management over time. How BAC’s No-Fee Rewards Program Can Be a Slow-Burn Growth Driver
• Positive Sentiment: Wealth business recognition — Merrill had 24 advisors named to Financial Planning’s Top 40 Brokers Under 40, underscoring talent depth in wealth management, which supports fee revenue stability and advisor retention. 24 Merrill Advisors Recognized on Financial Planning’s Top 40 Brokers Under 40 List
• Neutral Sentiment: Investor attention rising — Screening and search interest in BAC has picked up, which can amplify moves both ways depending on incoming data and macro headlines. Investors Heavily Search Bank of America Corporation (BAC)
• Neutral Sentiment: Macro/sector commentary — Bank of America Securities flagged the housing rebound as shaky (weak year‑on‑year), which is sector commentary that could influence mortgage volumes but isn’t an immediate hit to BAC’s broad franchise. Home Construction Rebound Looks Shaky, Says Analyst
• Negative Sentiment: Risk/valuation concerns in private credit — Coverage from FT and others notes growing industry moves into private credit and flags mounting concerns about the sector’s health and underwriting risk; deploying large balance‑sheet capital raises exposure and regulatory/credit‑cycle risk if conditions sour. Bank of America commits $25bn to private credit lending

Bank of America Stock Up 0.5%

BAC stock opened at $53.04 on Monday. The stock’s fifty day simple moving average is $54.29 and its two-hundred day simple moving average is $52.32. 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 1-year low of $33.06 and a 1-year high of $57.55. The stock has a market cap of $387.35 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.30 and a beta of 1.29.

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

Bank of America Dividend Announcement

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

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. The Goldman Sachs Group boosted their price objective on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Robert W. Baird raised their target price on Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Daiwa Securities Group lowered their price target on Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America Company 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.