Bank of America Corporation $BAC Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in shares of Bank of America Corporation (NYSE:BAC) by 1.0% during the third quarter, Holdings Channel.com reports. The fund owned 2,090,389 shares of the financial services provider’s stock after selling 21,626 shares during the period. Bank of America comprises approximately 0.6% of Arizona State Retirement System’s holdings, making the stock its 24th biggest position. Arizona State Retirement System’s holdings in Bank of America were worth $107,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Bank of America in the second quarter valued at approximately $5,091,641,000. Arrowstreet Capital Limited Partnership grew its stake in Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after acquiring an additional 9,782,208 shares during the period. ABN AMRO Bank N.V. purchased a new stake in Bank of America in the 2nd quarter worth $202,439,000. OMERS ADMINISTRATION Corp raised 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 worth $199,236,000 after acquiring an additional 3,781,417 shares during the period. Finally, AMF Tjanstepension AB lifted its holdings in Bank of America by 62.9% during the second quarter. AMF Tjanstepension AB now owns 8,904,561 shares of the financial services provider’s stock valued at $421,564,000 after purchasing an additional 3,438,876 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC opened at $53.07 on Friday. The stock’s 50-day moving average price is $54.12 and its 200 day moving average price is $51.48. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The firm has a market cap of $387.54 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.27 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period last year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Oppenheimer increased their target price on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Barclays raised their price objective on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 7th. Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Citigroup upped their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Bank of America News Roundup

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

• Positive Sentiment: BofA CEO Brian Moynihan highlighted India as a major growth engine and said the bank will need more capital to fund expansion there — a signal of future investment and revenue opportunity in a high‑growth market. BofA CEO Brian Moynihan flags India as major growth engine, calls for more capital to fuel expansion
• Positive Sentiment: Internal memo/report: BofA will match the U.S. government’s $1,000 pilot contribution to eligible employees’ “Trump Accounts” — and related coverage notes the bank is expanding deposit and auto‑finance relationships — actions that can boost deposits and fee income. BofA to match US government’s pilot contribution to Trump Accounts, memo says
• Positive Sentiment: Short interest fell materially in January (down ~12.4% month‑to‑month), reducing near‑term short pressure and removing a technical headwind to the share price.
• Positive Sentiment: MarketBeat/analyst commentary highlights BAC’s attractive valuation (low P/E) and multiple buy ratings/target upgrades implying meaningful upside — a view that supports buying interest into recent pullbacks. Bank of America’s Rock-Bottom P/E and 25% Upside Potential
• Neutral Sentiment: Bank of America appointed Lo Piccolo as country head replacing Mattarella — a management change at the country level that is notable but not yet clearly material to the firm’s overall earnings outlook. Bank of America appoints Lo Piccolo as country head replacing Mattarella
• Neutral Sentiment: BofA strategists are publicly warning that the 30‑year Treasury yield is a key market hinge — commentary that can drive market volatility but is not a direct company fundamental. Top Bank of America strategist says the long bond is nearing the key line in the sand
• Negative Sentiment: Daiwa Capital Markets cut its expectations for BAC’s stock price, a reminder some sell‑side desks are more cautious and could weigh on sentiment if others follow. Daiwa Capital Markets Has Lowered Expectations for Bank of America (NYSE:BAC) Stock Price

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.