OP Asset Management Ltd Purchases New Shares in Bank of America Corporation $BAC

OP Asset Management Ltd acquired a new stake in Bank of America Corporation (NYSE:BAC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 714,681 shares of the financial services provider’s stock, valued at approximately $34,841,000.

Several other large investors also recently made changes to their positions in BAC. Handelsbanken Fonder AB raised its position in shares of Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after acquiring an additional 1,603,080 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of Bank of America by 11.2% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 677,919 shares of the financial services provider’s stock worth $34,974,000 after purchasing an additional 68,093 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of Bank of America by 4.1% during the third quarter. Rafferty Asset Management LLC now owns 2,267,830 shares of the financial services provider’s stock worth $116,997,000 after purchasing an additional 88,991 shares during the period. Legal & General Group Plc increased its holdings in Bank of America by 3.4% in the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock valued at $2,497,655,000 after purchasing an additional 1,487,809 shares during the last quarter. Finally, Certuity LLC increased its holdings in Bank of America by 5.1% in the third quarter. Certuity LLC now owns 523,113 shares of the financial services provider’s stock valued at $26,987,000 after purchasing an additional 25,268 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Bank of America’s own research teams remained active on the bullish side of the market, including a raised price target on Micron and a higher target on Credicorp, which reinforces BAC’s influence in equity research and could support investor confidence in its capital markets franchise. Article Title
• Positive Sentiment: Bank of America also highlighted improving U.S. housing sentiment in its latest Homebuyer Insights Report, which could signal healthier consumer demand and stronger lending activity ahead. Article Title
• Positive Sentiment: The company announced a new community initiative with Street Child United tied to the 2026 World Cup, a brand-building move that may help BAC’s public image but is unlikely to move earnings by itself. Article Title
• Neutral Sentiment: Bank of America increased its stake in CA Immobilien to just over 4%, and disclosed another holding update in Qiagen; these are notable portfolio disclosures, but they are not directly tied to BAC’s operating results. Article Title
• Neutral Sentiment: Several articles focused on Bank of America’s macro outlook, including a more hawkish Fed forecast with three rate hikes in 2026 and commentary on consumer spending trends; these may matter for BAC’s lending margins and credit demand, but the implications are mixed. Article Title
• Negative Sentiment: The most market-sensitive macro call is BAC’s shift to a higher-rate forecast, which could increase pressure on borrowers and add uncertainty for the broader economy even if it helps net interest income. Article Title

Insiders Place Their Bets

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. JPMorgan Chase & Co. reduced their target price on Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group increased their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Truist Financial boosted their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Jefferies Financial Group upped their target price on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $59.00 price target on shares of Bank of America 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. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $61.23.

Bank of America Price Performance

Shares of BAC opened at $57.73 on Thursday. The stock has a 50 day simple moving average of $53.19 and a 200 day simple moving average of $52.62. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $58.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $409.71 billion, a PE ratio of 14.29, a P/E/G ratio of 0.98 and a beta of 1.18.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. Sell-side analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

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.