SBI Securities Co. Ltd. Has $3.73 Million Holdings in Bank of America Corporation $BAC

SBI Securities Co. Ltd. trimmed its stake in Bank of America Corporation (NYSE:BAC) by 38.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,373 shares of the financial services provider’s stock after selling 45,728 shares during the period. SBI Securities Co. Ltd.’s holdings in Bank of America were worth $3,734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BAC. Quaker Wealth Management LLC raised its stake in shares of Bank of America by 246.5% in the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 880 shares in the last quarter. Steph & Co. raised its stake in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after buying an additional 379 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Bank of America during the 3rd quarter worth about $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $31,000. Finally, CGC Financial Services LLC increased its stake in Bank of America by 585.4% in the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BAC shares. Piper Sandler raised their price target on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Oppenheimer raised their target price on Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, January 7th. The Goldman Sachs Group boosted their target price on shares of Bank of America from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Truist Financial lowered their target price on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Bank of America Price Performance

Shares of BAC stock opened at $54.97 on Friday. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. 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 firm’s 50 day moving average is $54.32 and its 200-day moving average is $51.74. The firm has a market capitalization of $401.43 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.35 and a beta of 1.29.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same quarter last year, the business posted $0.82 earnings per share. Bank of America’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s payout ratio is presently 29.24%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America is reported to be revamping its credit-card product lineup with an AI-driven refresh aimed at boosting consumer profitability and keeping cards competitive; investors often view card product upgrades and steady dividends as incremental revenue and margin positives for big banks. AI?Driven Card Revamp and Steady Dividends
• Positive Sentiment: Bank of America announced the full redemption of its Series DD preferred stock, removing that claim on capital and modestly simplifying the bank’s capital structure — a move that can be neutral-to-positive for common shareholders by reducing preferred dividend obligations. Series DD Redemption
• Neutral Sentiment: Chief Investment Strategist Michael Hartnett’s call that mid?caps are the preferred play ahead of U.S. midterms (versus mega-cap tech) is coming from BoA research — useful for market positioning and likely to influence client flows but not an immediate driver of BAC’s fundamentals. Hartnett on Midcaps
• Neutral Sentiment: Bank of America Securities published several analyst ratings on other companies today (routine sell?side activity); this highlights the scale of BoA’s research business but is unlikely to move BAC shares directly. BofA Securities Analyst Notes
• Negative Sentiment: BoA research issued a blunt warning about the dollar’s next move — FX volatility or a stronger dollar can pressure trading revenues, corporate FX flows and market sentiment, adding an element of risk for bank revenues tied to markets activity. Dollar Warning
• Negative Sentiment: Reuters reports banks (including big U.S. banks) ramped up lobbying spend — while expected, higher regulatory engagement can signal greater policy risk and incremental costs for large banks. Increased Lobbying Spend

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.