Illinois Municipal Retirement Fund Increases Position in Bank of America Corporation $BAC

Illinois Municipal Retirement Fund raised its holdings in Bank of America Corporation (NYSE:BAC) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,046 shares of the financial services provider’s stock after buying an additional 69,731 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of America were worth $22,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Norges Bank acquired a new stake in Bank of America during the 4th quarter worth $4,774,210,000. Capital International Investors purchased a new stake in Bank of America during the 4th quarter valued at approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank of America by 640.5% during the third 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the period. Finally, Capital World Investors lifted its position in Bank of America by 11.0% in the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after purchasing an additional 14,275,810 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

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

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on BAC. Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Oppenheimer lifted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $59.00 price target on shares of Bank of America in a report on Thursday, April 16th. Evercore cut their price objective on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Finally, Truist Financial increased their target price on Bank of America from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America Stock Performance

Shares of BAC opened at $54.59 on Thursday. The firm has a market cap of $387.39 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.92 and a beta of 1.18. 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 business’s 50 day moving average is $52.03 and its two-hundred day moving average is $52.36. Bank of America Corporation has a 52-week low of $43.66 and a 52-week high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Analysts forecast that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is currently 27.72%.

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.