California Public Employees Retirement System Acquires 1,917,725 Shares of Bank of America Corporation $BAC

California Public Employees Retirement System raised its holdings in shares of Bank of America Corporation (NYSE:BAC) by 11.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 19,280,356 shares of the financial services provider’s stock after purchasing an additional 1,917,725 shares during the period. Bank of America accounts for about 0.6% of California Public Employees Retirement System’s portfolio, making the stock its 20th largest position. California Public Employees Retirement System owned 0.26% of Bank of America worth $994,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BAC. Steph & Co. boosted its stake in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares in the last quarter. Collier Financial bought a new position in Bank of America in the third quarter worth approximately $30,000. Marquette Asset Management LLC purchased a new stake in Bank of America during the third quarter worth $30,000. Mountain Hill Investment Partners Corp. bought a new stake in Bank of America during the 3rd quarter valued at $31,000. Finally, Wealth Preservation Advisors LLC boosted its position in Bank of America by 48.7% during the 2nd quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Activity

In related news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Trending Headlines about Bank of America

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

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of “Moderate Buy”
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

Bank of America Stock Performance

Shares of BAC opened at $46.72 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $335.32 billion, a PE ratio of 12.20, a P/E/G ratio of 1.14 and a beta of 1.28. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The stock has a fifty day moving average price of $52.52 and a 200-day moving average price of $52.47.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America’s payout ratio is presently 29.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen reduced their price target on Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Keefe, Bruyette & Woods dropped their price objective on Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Evercore set a $59.00 target price on Bank of America in a research note on Thursday, January 15th. Finally, Oppenheimer increased their price target on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned 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 $60.30.

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.