Bank of America Corporation $BAC Shares Bought by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its holdings in Bank of America Corporation (NYSE:BAC) by 30.9% during the first quarter, Holdings Channel.com reports. The firm owned 2,065,582 shares of the financial services provider’s stock after purchasing an additional 487,661 shares during the period. Bank of America makes up 3.4% of Sound Shore Management Inc. CT’s holdings, making the stock its 4th biggest holding. Sound Shore Management Inc. CT’s holdings in Bank of America were worth $100,697,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BAC. Norges Bank acquired a new stake in Bank of America in the 4th quarter valued at approximately $4,774,210,000. Capital International Investors purchased a new position in shares of Bank of America during the fourth quarter worth $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Bank of America by 640.5% in the third 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 valued at $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its holdings in shares of Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after buying an additional 22,621,546 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $61.18 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $55.30 and a 200-day simple moving average of $53.13. The stock has a market cap of $434.16 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $62.12.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. Bank of America’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities analysts expect that Bank of America Corporation will post 4.64 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’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 completion of the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Analysts Set New Price Targets

A number of brokerages recently commented on BAC. HSBC raised their target price on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Morgan Stanley boosted their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Truist Financial upped their target price on shares of Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.77.

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.