California Public Employees Retirement System Decreases Holdings in Bank of America Corporation $BAC

California Public Employees Retirement System decreased its holdings in Bank of America Corporation (NYSE:BAC) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,221,359 shares of the financial services provider’s stock after selling 1,393,195 shares during the period. Bank of America accounts for approximately 0.5% of California Public Employees Retirement System’s holdings, making the stock its 23rd biggest holding. California Public Employees Retirement System’s holdings in Bank of America were worth $888,291,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BAC. Abound Financial LLC purchased a new position in shares of Bank of America in the 4th quarter worth approximately $26,000. Legacy Bridge LLC raised its holdings in Bank of America by 182.3% during 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. Wiser Advisor Group LLC bought a new stake in Bank of America in the third quarter worth $27,000. CrossGen Wealth LLC bought a new stake in Bank of America in the fourth quarter worth $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America during the fourth quarter worth $32,000. 70.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on BAC. Truist Financial boosted their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised their target price on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. HSBC lifted their price target on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.77.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Bank of America Stock Down 0.5%

NYSE:BAC opened at $61.18 on Friday. The company has a market cap of $434.16 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $55.30 and a 200-day simple moving average of $53.15.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Analysts anticipate that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America’s payout ratio is 25.69%.

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.