Panagora Asset Management Inc. Has $232.15 Million Holdings in Bank of America Corporation $BAC

Panagora Asset Management Inc. lifted its stake in shares of Bank of America Corporation (NYSE:BAC) by 35.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,220,959 shares of the financial services provider’s stock after buying an additional 1,115,499 shares during the period. Bank of America comprises approximately 0.8% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 16th biggest position. Panagora Asset Management Inc.’s holdings in Bank of America were worth $232,153,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Perryman Financial Advisory Inc. AD acquired a new position in shares of Bank of America during the fourth quarter worth $9,205,000. Potentia Wealth acquired a new position in shares of Bank of America during the fourth quarter worth $200,000. Piedmont Capital Management LLC NC acquired a new position in shares of Bank of America during the fourth quarter worth $947,000. Resources Management Corp CT ADV increased its holdings in shares of Bank of America by 4,943.2% during the fourth quarter. Resources Management Corp CT ADV now owns 113,977 shares of the financial services provider’s stock worth $6,269,000 after buying an additional 111,717 shares in the last quarter. Finally, Seven Mile Advisory increased its holdings in shares of Bank of America by 11.6% during the fourth quarter. Seven Mile Advisory now owns 21,896 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 2,279 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Bank of America Price Performance

BAC stock opened at $55.96 on Monday. The company has a market capitalization of $397.15 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55. The business has a 50-day simple moving average of $52.29 and a two-hundred day simple moving average of $52.42.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts expect that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America’s payout ratio is presently 27.72%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Evercore decreased their price objective on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. HSBC raised their price objective on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Piper Sandler upped their target price on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Jefferies Financial Group increased their price target on Bank of America from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.06.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated 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 completion of the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Bank of America 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.