Smithbridge Asset Management Inc. DE Purchases 11,012 Shares of Bank of America Corporation $BAC

Smithbridge Asset Management Inc. DE boosted its position in Bank of America Corporation (NYSE:BAC) by 100.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,024 shares of the financial services provider’s stock after purchasing an additional 11,012 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Bank of America were worth $1,211,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BAC. Norges Bank bought a new position in Bank of America in the 4th quarter valued at $4,774,210,000. Capital International Investors bought a new position in Bank of America in the 4th quarter valued at $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. 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 purchasing an additional 23,351,183 shares during the period. Finally, Capital World Investors grew its position in shares of Bank of America by 11.0% during 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 acquiring an additional 14,275,810 shares during the period. Institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s 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 transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America launched new card and client-rewards offerings, including Custom Pay Plan, a Refer-a-Friend bonus program, and enhanced credit-monitoring tools, which could support card usage, customer retention, and fee income. Article Title
• Positive Sentiment: Management said trading revenue is running better than expected, with markets business revenue potentially exceeding 15% growth in Q2, supported by equities strength. Article Title
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, FX, and payments solutions in Asia Pacific, suggesting continued momentum in global transaction services. Article Title
• Positive Sentiment: The bank also expanded its FIFA World Cup 2026 marketing campaign, which may help brand awareness and customer acquisition, though the direct financial impact is less immediate. Article Title
• Neutral Sentiment: Bank of America’s in-house research has turned more cautious on the broader market, warning that multiple bear-market and “take profits” signals are flashing. This reflects the firm’s market outlook rather than BAC’s own fundamentals. Article Title
• Negative Sentiment: The U.S. Justice Department reportedly opened a debanking probe and subpoenaed major banks, including Bank of America, seeking records on accounts that were closed for possible political reasons. That raises regulatory and reputational risk. Article Title

Bank of America Stock Up 0.3%

BAC opened at $54.59 on Thursday. The company has a 50 day moving average of $52.03 and a 200 day moving average of $52.36. The company has a market cap of $387.39 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. Bank of America Corporation has a 12 month low of $43.66 and a 12 month high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

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

Bank of America Announces Dividend

The business 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 yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research reports. Daiwa Securities Group increased their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. UBS Group increased their target price on shares of Bank of America from $62.00 to $63.00 in a research report on Wednesday, May 6th. Evercore cut their price target on Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. 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 research note on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $61.06.

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.