Parnassus Investments LLC Cuts Holdings in Bank of America Corporation $BAC

Parnassus Investments LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,258,627 shares of the financial services provider’s stock after selling 232,683 shares during the period. Bank of America accounts for 2.3% of Parnassus Investments LLC’s investment portfolio, making the stock its 14th biggest holding. Parnassus Investments LLC owned approximately 0.26% of Bank of America worth $993,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Bank of America by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock valued at $6,982,863,000 after purchasing an additional 403,652 shares during the period. Norges Bank bought a new position in Bank of America in the second quarter worth about $5,091,641,000. Fisher Asset Management LLC lifted its holdings in Bank of America by 5.2% in the second quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock worth $2,432,516,000 after buying an additional 2,557,943 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bank of America by 124.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after acquiring an additional 9,782,208 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Bank of America by 6.1% in the 2nd quarter. California Public Employees Retirement System now owns 17,362,631 shares of the financial services provider’s stock worth $821,600,000 after acquiring an additional 997,323 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.7%

NYSE BAC opened at $55.81 on Friday. 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 Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The company has a fifty day moving average of $54.14 and a 200 day moving average of $50.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $27.05 billion. During the same period last year, the company earned $0.81 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is currently 30.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BAC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Thursday, October 30th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday. Citigroup lifted their price objective on shares of Bank of America from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Morgan Stanley reduced their target price on shares of Bank of America from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of America from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $59.82.

Bank of America News Roundup

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

Bank of America Company 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.