Proffitt & Goodson Inc. Reduces Holdings in Bank of America Corporation $BAC

Proffitt & Goodson Inc. decreased its stake in shares of Bank of America Corporation (NYSE:BAC) by 38.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,783 shares of the financial services provider’s stock after selling 12,809 shares during the period. Proffitt & Goodson Inc.’s holdings in Bank of America were worth $1,072,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Bank of America in the 2nd quarter worth approximately $5,091,641,000. Arrowstreet Capital Limited Partnership grew its stake in Bank of America by 124.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after purchasing an additional 9,782,208 shares during the period. ABN AMRO Bank N.V. bought a new position in Bank of America in the second quarter worth $202,439,000. OMERS ADMINISTRATION Corp lifted its position in Bank of America by 881.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after buying an additional 3,781,417 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Bank of America during the 2nd quarter valued at $164,623,000. 70.71% of the stock is owned by institutional investors.

Trending Headlines about Bank of America

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

• Positive Sentiment: Intraday/options flow shows moderately bullish activity and short‑term buying pressure that has supported the stock’s move higher; traders flagged increased call interest and volume. Moderately bullish activity in Bank of America with shares up 0.54%
• Positive Sentiment: Zacks highlights BAC outpacing the broader market in the latest session — evidence institutional/retail buyers favoring the stock after solid recent results and improving trading sentiment for big banks. Why Bank of America (BAC) Outpaced the Stock Market Today
• Positive Sentiment: Analysis flags a potentially imminent forced conversion of BAC Series L preferreds: the shares yield ~5.8% today but would convert into common if BAC trades above $65 for the trigger period — a conversion would reduce preferred overhang and could create modest capital gains and support for common shares. The note also points out preferred dividend coverage is small relative to earnings, limiting downside risk. Bank Of America: Forced Conversion On Preferred Stock Coming Closer
• Positive Sentiment: CFRA commentary: analysts remain constructive on big banks into earnings season, which supports BAC relative performance and investor confidence in the sector. Outlook is very positive for the big banks, says CFRA’s Ken Leon
• Neutral Sentiment: BofA published its “Top 10 Ideas” for Q1 2026 (research picks across sectors). This showcases the firm’s research franchise and fee‑generating business but is not a direct driver of BAC equity moves. BofA Rolls Out “Top 10 Ideas” for 1Q26 Across Key Sectors
• Neutral Sentiment: Consumer‑facing coverage: a recent mortgage review of Bank of America outlines product offerings and service traits — relevant for long‑term revenue mix but unlikely to move the stock near term. Bank of America Mortgage review 2026
• Neutral Sentiment: CEO Brian Moynihan said BofA hired ~2,000 Gen‑Z grads from 200,000 applicants — positive PR about talent intake and cost discipline but more of a reputation/culture datapoint than an immediate earnings catalyst. Bank of America CEO says he hired 2,000 recent Gen Z grads from 200,000 applications, and many are scared about the future
• Negative Sentiment: BofA strategists warn the S&P 500 is expensive — a broader valuation caution that can weigh on cyclical and financial stocks if risk appetite reverses, creating a macro headwind for BAC. The S&P 500 is Expensive with ‘No Way to Sugar Coat It,’ Warns Bank of America

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Bank of America from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. Argus lifted their target price on shares of Bank of America from $53.00 to $58.00 in a report on Friday, October 17th. Daiwa Capital Markets upped their price target on Bank of America from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Citigroup lifted their price objective on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Twenty-three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.59.

Bank of America Price Performance

Shares of BAC opened at $55.94 on Friday. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $56.54. The company has a market capitalization of $408.49 billion, a P/E ratio of 15.24 and a beta of 1.29. The firm has a 50 day moving average of $53.80 and a 200 day moving average of $50.64. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.93 by $0.13. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, December 5th. Bank of America’s dividend payout ratio (DPR) is presently 30.52%.

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.