Allspring Global Investments Holdings LLC Sells 844,426 Shares of Bank of America Corporation $BAC

Allspring Global Investments Holdings LLC lowered its holdings in shares of Bank of America Corporation (NYSE:BAC) by 25.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,419,819 shares of the financial services provider’s stock after selling 844,426 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bank of America were worth $119,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after acquiring an additional 25,143 shares during the period. Sivia Capital Partners LLC raised its stake in Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 6,174 shares during the period. Jump Financial LLC lifted its holdings in Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Bank of America in the second quarter worth approximately $1,396,000. Finally, Vivaldi Capital Management LP boosted its position in shares of Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 355 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BAC shares. Autonomous Res decreased their price objective on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Daiwa Securities Group upped their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Key Bank of America News

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

Insider Buying and Selling

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s 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 in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $61.18 on Friday. The firm has a market capitalization of $434.16 billion, a PE ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17. The stock’s fifty day moving average is $55.30 and its 200 day moving average is $53.15. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.81 and a current ratio of 0.83.

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

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a dividend of $0.28 per share. 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 payout ratio is currently 27.72%.

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.