Bank of America Corporation $BAC Stake Raised by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its holdings in Bank of America Corporation (NYSE:BAC) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,065,582 shares of the financial services provider’s stock after purchasing an additional 487,661 shares during the period. Bank of America comprises 3.4% of Sound Shore Management Inc. CT’s holdings, making the stock its 4th largest position. Sound Shore Management Inc. CT’s holdings in Bank of America were worth $100,697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Money Concepts Capital Corp grew its stake in Bank of America by 3.8% in the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 182 shares during the period. Operose Advisors LLC increased its holdings in Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 185 shares in the last quarter. Asahi Life Asset Management CO. LTD. raised its position in Bank of America by 1.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after acquiring an additional 187 shares during the period. GatePass Capital LLC raised its position in Bank of America by 3.6% during the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 190 shares during the period. Finally, GeoWealth Management LLC lifted its holdings in Bank of America by 0.3% during the fourth quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider’s stock valued at $3,388,000 after purchasing an additional 191 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Bank of America

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Daiwa Securities Group lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday. HSBC lifted their price objective on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Citigroup boosted their price objective on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group increased their target price on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Bank of America Stock Performance

NYSE BAC opened at $61.18 on Monday. The stock’s fifty day moving average is $55.30 and its two-hundred day moving average is $53.13. The firm has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $62.12.

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

Bank of America Announces Dividend

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

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated 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 transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

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.