Sumitomo Mitsui DS Asset Management Company Ltd Acquires 84,612 Shares of Bank of America Corporation $BAC

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Bank of America Corporation (NYSE:BAC) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,457,831 shares of the financial services provider’s stock after buying an additional 84,612 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bank of America were worth $75,210,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Bank of America by 20.5% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,498 shares of the financial services provider’s stock valued at $1,006,000 after purchasing an additional 3,320 shares during the period. Lakewood Asset Management LLC increased its holdings in Bank of America by 0.5% during the 3rd quarter. Lakewood Asset Management LLC now owns 85,014 shares of the financial services provider’s stock worth $4,386,000 after acquiring an additional 447 shares during the period. Valmark Advisers Inc. lifted its stake in Bank of America by 5.4% in the 3rd quarter. Valmark Advisers Inc. now owns 20,099 shares of the financial services provider’s stock worth $1,037,000 after purchasing an additional 1,029 shares in the last quarter. Pasadena Private Wealth LLC grew its position in shares of Bank of America by 47.9% during the 3rd quarter. Pasadena Private Wealth LLC now owns 53,646 shares of the financial services provider’s stock valued at $2,768,000 after purchasing an additional 17,380 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Bank of America by 37.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 778,903 shares of the financial services provider’s stock worth $40,184,000 after purchasing an additional 212,610 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Bank of America stock opened at $55.81 on Friday. The firm has a fifty day simple moving average of $54.14 and a two-hundred day simple moving average of $50.98. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The company has a market capitalization of $407.52 billion, a PE ratio of 15.21 and a beta of 1.29.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $27.05 billion. During the same period last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Bank of America’s dividend payout ratio is presently 30.52%.

Key Bank of America News

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong?Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax?equity investments and is pushing into fixed?income & digital?asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near?term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BAC shares. Morgan Stanley decreased their target price on Bank of America from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. The Goldman Sachs Group lifted their target price on shares of Bank of America from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer increased their price target on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. TD Cowen lifted their price objective on shares of Bank of America from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on Bank of America from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $59.82.

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.