Korea Investment CORP Buys 211,893 Shares of Bank of America Corporation $BAC

Korea Investment CORP increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,691,417 shares of the financial services provider’s stock after buying an additional 211,893 shares during the period. Bank of America makes up 0.5% of Korea Investment CORP’s portfolio, making the stock its 29th largest position. Korea Investment CORP’s holdings in Bank of America were worth $258,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. Vanguard Group Inc. grew its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Capital World Investors grew its stake in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after buying an additional 14,275,810 shares in the last quarter. Norges Bank purchased a new position in Bank of America in the 4th quarter valued at approximately $4,774,210,000. Bank of New York Mellon Corp grew its stake in Bank of America by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after buying an additional 2,929,779 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after buying an additional 1,105,833 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BAC. Jefferies Financial Group lifted their price objective on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Morgan Stanley cut their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Finally, Argus raised their price target on shares of Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $61.06.

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

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Bank of America Price Performance

Shares of BAC opened at $55.96 on Friday. The stock has a market cap of $397.15 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18. 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 fifty-two week low of $43.66 and a fifty-two week high of $57.55. The firm’s 50-day simple moving average is $52.29 and its two-hundred day simple moving average is $52.41.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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 issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio is presently 27.72%.

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.