Louisiana State Employees Retirement System Buys Shares of 338,200 Bank of America Corporation $BAC

Posted by Max Byerly on Jun 26th, 2026

Louisiana State Employees Retirement System purchased a new position in Bank of America Corporation (NYSE:BAC – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 338,200 shares of the financial services provider’s stock, valued at approximately $16,487,000.

Several other large investors have also recently made changes to their positions in BAC. Parkway Wealth Management Group LLC purchased a new position in Bank of America in the 1st quarter valued at $219,000. First American Bank boosted its stake in Bank of America by 2.4% during the 1st quarter. First American Bank now owns 245,965 shares of the financial services provider’s stock worth $11,991,000 after purchasing an additional 5,728 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Bank of America by 1.4% during the first quarter. Kestra Private Wealth Services LLC now owns 378,388 shares of the financial services provider’s stock worth $18,446,000 after buying an additional 5,237 shares in the last quarter. Corundum Group Inc. raised its position in shares of Bank of America by 15.3% in the first quarter. Corundum Group Inc. now owns 24,638 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 3,265 shares during the last quarter. Finally, KFA Private Wealth Group LLC raised its position in shares of Bank of America by 7.8% in the first quarter. KFA Private Wealth Group LLC now owns 5,635 shares of the financial services provider’s stock valued at $275,000 after buying an additional 410 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’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 value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Bank of America Trading Up 0.6%

Shares of BAC opened at $58.09 on Friday. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $59.20. The firm has a market capitalization of $412.24 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.98 and a beta of 1.18. The firm has a 50-day moving average price of $53.29 and a 200 day moving average price of $52.65. 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 – Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The company 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%. Bank of America’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BAC. JPMorgan Chase & Co. lowered their price target on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Erste Group Bank downgraded shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Argus raised 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 note on Thursday, April 16th. Citigroup boosted their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.23.

View Our Latest Stock Analysis on BAC

Trending Headlines about Bank of America

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

Positive Sentiment: Citi raised its price target on Bank of America and maintained a Buy rating, signaling confidence ahead of the bank’s next earnings report. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
Positive Sentiment: Bank of America is being cited as a top blue-chip dividend stock, reinforcing its appeal to income-focused investors. Bank of America (BAC) – Among the Top 10 Blue Chip Stocks with Growing Dividends
Positive Sentiment: Analysts expect Bank of America to post double-digit bottom-line growth when it reports second-quarter earnings next month. What You Need to Know Ahead of Bank of America’s Earnings Release
Positive Sentiment: The broader banking backdrop is constructive after major U.S. banks passed the Fed stress test, supporting expectations for stronger capital returns across the sector. Fed Stress Test: JPM & Other Big Banks Pass Again, Show Resilience
Neutral Sentiment: Bank of America also reiterated its upbeat view on Coinbase and Micron, showing the firm remains active and constructive on other market names, but these calls are not direct drivers for BAC shares. Bank of America predicts big upside for Coinbase
Negative Sentiment: One note from TipRanks said Bank of America sees rising market-correction risk and advised investors to get defensive, which could temper overall risk appetite. Bank of America (BAC) Says Risks of a Market Correction Are Rising

Bank of America Company Profile

(Free Report)

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.