Great Lakes Advisors LLC Cuts Stock Position in Bank of America Corporation $BAC

Great Lakes Advisors LLC trimmed its stake in Bank of America Corporation (NYSE:BAC) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,668,045 shares of the financial services provider’s stock after selling 17,182 shares during the period. Bank of America comprises 1.6% of Great Lakes Advisors LLC’s holdings, making the stock its 6th biggest holding. Great Lakes Advisors LLC’s holdings in Bank of America were worth $201,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new stake in Bank of America in the 3rd quarter valued at about $27,000. Legacy Bridge LLC boosted its position in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after buying an additional 330 shares during the period. Joseph Group Capital Management purchased a new stake in Bank of America in the 4th quarter valued at about $32,000. HFM Investment Advisors LLC boosted its position in Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after buying an additional 532 shares during the period. Finally, Coston McIsaac & Partners boosted its position in Bank of America by 90.2% in the 4th quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock valued at $36,000 after buying an additional 314 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 completion of the sale, the insider owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America launched new client offerings, including pay-over-time tools, an expanded rewards program, and credit monitoring features, which could support card usage, customer retention, and fee revenue. Bank of America Introduces New Ways to Reward Clients, Manage Payments and Track Credit
• Positive Sentiment: The bank is planning real-time global payments through Swift and CashPro, a move that could boost fee income and strengthen client relationships over time. BAC Plans to Launch Real-Time Global Payments: A Fee Revenue Catalyst?
• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Bank of America (NYSE: BAC), suggesting more confidence in the company’s longer-term earnings outlook. Bank of America Corporation – Free Report
• Positive Sentiment: Bank of America highlighted surging demand for AI-led treasury, trade, and FX solutions in Asia-Pacific, reinforcing a constructive outlook for its global payments and transaction banking business. Bank of America Highlights Surging Demand for AI-Led Treasury, Fx Solutions in Asia Pacific
• Neutral Sentiment: Bank of America declared preferred stock dividends for multiple series, a routine capital-return update that is not likely to materially move the common stock. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Neutral Sentiment: Several articles referenced Bank of America’s market-timing and stock-market warning indicators, which may reflect caution on broader equities rather than a direct operational issue for BAC. Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
• Negative Sentiment: The Justice Department’s subpoena probe into alleged “debanking,” which includes Bank of America, adds regulatory overhang and could create headlines risk for the shares. US Justice Department subpoenas major banks over alleged ‘debanking’, WSJ reports

Bank of America Trading Up 1.1%

NYSE:BAC opened at $55.17 on Friday. Bank of America Corporation has a 52 week low of $43.66 and a 52 week high of $57.55. The firm has a 50 day moving average of $52.16 and a 200 day moving average of $52.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $391.48 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.92 and a beta of 1.18.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating 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 company had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Bank of America’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Bank of America’s dividend payout ratio is presently 27.72%.

Analyst Ratings Changes

BAC has been the subject of several research reports. Evercore lowered their price objective on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Robert W. Baird boosted their price objective on shares of Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Argus boosted their price objective on shares of Bank of America from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a research report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $61.06.

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.