Principal Financial Group Inc. Decreases Stake in Bank of America Corporation $BAC

Principal Financial Group Inc. cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,530,373 shares of the financial services provider’s stock after selling 165,508 shares during the quarter. Principal Financial Group Inc.’s holdings in Bank of America were worth $749,620,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BAC. Norges Bank acquired a new position in shares of Bank of America in the second quarter valued at about $5,091,641,000. Arrowstreet Capital Limited Partnership boosted its position in Bank of America by 124.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after buying an additional 9,782,208 shares during the last quarter. ABN AMRO Bank N.V. acquired a new position in Bank of America in the 2nd quarter worth approximately $202,439,000. OMERS ADMINISTRATION Corp lifted its stake in Bank of America by 881.5% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after acquiring an additional 3,781,417 shares during the period. Finally, AMF Tjanstepension AB lifted its stake in Bank of America by 62.9% during the 2nd quarter. AMF Tjanstepension AB now owns 8,904,561 shares of the financial services provider’s stock valued at $421,564,000 after acquiring an additional 3,438,876 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Daiwa Capital Markets cut their price objective on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Royal Bank Of Canada increased their price target on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Evercore ISI set a $59.00 price objective on Bank of America in a report on Thursday, January 15th. The Goldman Sachs Group upped their target price on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Wells Fargo & Company lifted their price target on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Key Stories Impacting Bank of America

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

• Positive Sentiment: CEO Brian Moynihan flagged India as a major growth engine and signaled the bank will push for profitable expansion there — a directional growth story that supports long‑term revenue upside if BofA deploys capital efficiently. BofA CEO Moynihan sees India as major growth engine
• Positive Sentiment: BofA expanded retail reach via new Trump-related accounts and an auto‑finance arrangement — moves that can boost deposits and loan originations, supporting net interest income and fee revenue. Bank Of America Extends Reach With Trump Accounts And Auto Finance Deal
• Neutral Sentiment: BofA named Lo Piccolo as country head (replacing Mattarella) — an operational leadership change for international business that is unlikely to move near‑term earnings but matters for execution abroad. Bank of America appoints Lo Piccolo as country head
• Neutral Sentiment: BofA made a $500,000 grant to FIND Regional Food Bank — positive for corporate social responsibility and local reputation but immaterial to fundamentals. BofA Awards $500,000 Grant to FIND Regional Food Bank
• Neutral Sentiment: BofA’s chief strategist warned the 30‑year Treasury yield approaching a critical level — commentary that can influence bond markets and the bank’s interest‑rate outlook; implications for margins depend on where long yields settle. Top Bank of America strategist says the long bond is nearing the key line in the sand
• Negative Sentiment: Daiwa Capital Markets lowered expectations for BAC’s share price — a direct analyst downgrade that can weigh on sentiment and short‑term flows. Daiwa Capital Markets Has Lowered Expectations for Bank of America
• Negative Sentiment: Policy risk: media and MarketBeat commentary note that the Trump administration’s proposed 10% cap on credit‑card interest rates is pressuring U.S. banks, including BofA, because it could materially reduce credit card yields and fee income if enacted. That regulatory uncertainty is a near‑term headwind for valuation. MarketBeat Week in Review / credit card cap discussion

Bank of America Stock Performance

NYSE BAC opened at $53.25 on Friday. The stock has a market capitalization of $388.86 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.30 and a beta of 1.29. The stock has a 50-day moving average of $54.15 and a 200 day moving average of $51.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 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 business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

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.