Illinois Municipal Retirement Fund Has $17.14 Million Holdings in Bank of America Corporation $BAC

Illinois Municipal Retirement Fund trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 9.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 332,315 shares of the financial services provider’s stock after selling 35,329 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of America were worth $17,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. William B. Walkup & Associates Inc. boosted its holdings in shares of Bank of America by 1.4% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 192 shares in the last quarter. Albion Financial Group UT increased its position in shares of Bank of America by 1.6% during the third quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after buying an additional 205 shares during the period. Motive Wealth Advisors increased its position in shares of Bank of America by 3.6% during the third quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock worth $305,000 after buying an additional 205 shares during the period. Howard Financial Services LTD. grew its position in shares of Bank of America by 2.5% during the 3rd quarter. Howard Financial Services LTD. now owns 8,508 shares of the financial services provider’s stock worth $439,000 after buying an additional 205 shares during the period. Finally, Wynn Capital LLC boosted its holdings in Bank of America by 0.4% in the third quarter. Wynn Capital LLC now owns 47,063 shares of the financial services provider’s stock worth $2,428,000 after acquiring an additional 207 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Robert W. Baird increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wells Fargo & Company increased their price target on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. 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. Finally, Truist Financial lowered their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Bank of America Trading Down 2.7%

Shares of BAC stock opened at $53.88 on Thursday. The firm’s 50 day moving average is $54.49 and its 200 day moving average is $51.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $393.46 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.35 and a beta of 1.29. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55.

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

Bank of America Announces Dividend

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

Trending Headlines about Bank of America

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

• Positive Sentiment: Zacks notes BAC trades at a discount to peers on price-to-tangible-book, supporting a value/buy thesis for some investors. BAC Trades at a Discount to Industry: Right Time to Buy the Stock?
• Positive Sentiment: An analysis of BAC preferreds highlights they offer interest-rate protection and income options for investors, which can support demand for BAC securities in a volatile rate environment. Bank Of America Preferreds Offer Interest Rate Protection
• Neutral Sentiment: CEO comments at the firm’s conference were characterized as “surprising” by media — the tone and substance are being parsed by investors but aren’t clearly bullish or bearish on their own. Monitor the full remarks for guidance on credit, costs and capital. Bank of America CEO drops surprising view on the economy
• Neutral Sentiment: BAC and Bank of America Securities released several research and conference materials (presentations, transcripts, commodity/energy forecasts) that are shaping sector views but are ancillary to BAC’s core banking earnings. BAC Presents at Bank of America Financial Services Conference 2026 Transcript
• Negative Sentiment: Bank of America’s internal data flagged that the middle class is now feeling economic strain (K-shaped recovery widening), which raises risk of weaker consumer spending and credit performance — a direct concern for BAC’s consumer banking franchise. Bank of America’s internal data show the middle class is now feeling the pain of the K-shaped economy
• Negative Sentiment: Regulatory risk: at the same conference, industry executives warned that a proposed 10% cap on credit-card APRs would sharply curtail credit access and revenue for issuers — a policy risk that would hit BAC’s cards and consumer-lending revenue. Citi Executive Warns Rate Cap Would Kill Credit for Lower-Income Consumers
• Negative Sentiment: BofA Research’s cautionary notes to investors (including warnings about mega-cap “Magnificent Seven” tech stocks) signal a risk-off posture from the firm’s research desk, which can feed broader selling and reduce risk appetite for financials. Bank of America sends harsh warning to Magnificent Seven stocks

About Bank of America

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.