Bank of America Corporation $BAC Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its holdings in Bank of America Corporation (NYSE:BAC) by 21.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 402,046 shares of the financial services provider’s stock after buying an additional 69,731 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Bank of America were worth $22,113,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. J.Safra Asset Management Corp bought a new position in shares of Bank of America during the fourth quarter valued at approximately $1,787,000. GWN Securities Inc. boosted its position in Bank of America by 9.7% during the 4th quarter. GWN Securities Inc. now owns 9,774 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 864 shares during the period. Deutsche Bank AG grew its stake in Bank of America by 5.9% during the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after buying an additional 2,611,776 shares during the last quarter. Paragon Private Wealth Management LLC grew its stake in Bank of America by 10.7% during the 4th quarter. Paragon Private Wealth Management LLC now owns 10,553 shares of the financial services provider’s stock worth $580,000 after buying an additional 1,016 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in Bank of America by 4.6% in the fourth quarter. GW&K Investment Management LLC now owns 6,946 shares of the financial services provider’s stock worth $382,000 after buying an additional 307 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 0.3%

BAC stock opened at $54.59 on Thursday. The firm’s 50-day moving average is $52.03 and its two-hundred day moving average is $52.36. The company has a market capitalization of $387.39 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. Bank of America Corporation has a 52 week low of $43.66 and a 52 week high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that Bank of America Corporation will post 4.45 earnings per share 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. Shareholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.

More Bank of America News

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

• Positive Sentiment: Bank of America launched new card and client-rewards offerings, including Custom Pay Plan, a Refer-a-Friend bonus program, and enhanced credit-monitoring tools, which could support card usage, customer retention, and fee income. Article Title
• Positive Sentiment: Management said trading revenue is running better than expected, with markets business revenue potentially exceeding 15% growth in Q2, supported by equities strength. Article Title
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, FX, and payments solutions in Asia Pacific, suggesting continued momentum in global transaction services. Article Title
• Positive Sentiment: The bank also expanded its FIFA World Cup 2026 marketing campaign, which may help brand awareness and customer acquisition, though the direct financial impact is less immediate. Article Title
• Neutral Sentiment: Bank of America’s in-house research has turned more cautious on the broader market, warning that multiple bear-market and “take profits” signals are flashing. This reflects the firm’s market outlook rather than BAC’s own fundamentals. Article Title
• Negative Sentiment: The U.S. Justice Department reportedly opened a debanking probe and subpoenaed major banks, including Bank of America, seeking records on accounts that were closed for possible political reasons. That raises regulatory and reputational risk. Article Title

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Daiwa Securities Group boosted their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Friday, April 24th. Argus upped their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price target on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group boosted their price objective on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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.