Sumitomo Mitsui DS Asset Management Company Ltd Buys 84,612 Shares of Bank of America Corporation $BAC

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Bank of America Corporation (NYSE:BAC) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,457,831 shares of the financial services provider’s stock after acquiring an additional 84,612 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bank of America were worth $75,210,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Nova Wealth Management Inc. grew its position in shares of Bank of America by 75.2% in the 2nd quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after buying an additional 227 shares during the period. Quaker Wealth Management LLC lifted its position in Bank of America by 246.5% during 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 during the period. RMG Wealth Management LLC purchased a new stake in Bank of America in the second quarter worth approximately $28,000. Steph & Co. raised its stake in Bank of America by 224.3% during 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 during the last quarter. Finally, CGC Financial Services LLC lifted its holdings 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.

Bank of America Price Performance

BAC stock opened at $55.81 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The company’s fifty day moving average price is $54.14 and its 200-day moving average price is $50.98. Bank of America Corporation has a one year low of $33.06 and a one year high of $57.55. The company has a market capitalization of $407.52 billion, a PE ratio of 15.21 and a beta of 1.29.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. Bank of America’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, December 5th. Bank of America’s dividend payout ratio is currently 30.52%.

Trending Headlines about Bank of America

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong‑Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax‑equity investments and is pushing into fixed‑income & digital‑asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near‑term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAC shares. Wall Street Zen cut shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, January 5th. The Goldman Sachs Group raised their target price on shares of Bank of America from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Bank of America from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Phillip Securities raised their price objective on shares of Bank of America from $50.00 to $56.00 in a research report on Tuesday, October 21st. Finally, Daiwa Capital Markets lifted their target price on shares of Bank of America from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.82.

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.