Retirement Systems of Alabama Increases Stake in Bank of America Corporation $BAC

Retirement Systems of Alabama boosted its position in Bank of America Corporation (NYSE:BAC) by 1.4% during the third quarter, HoldingsChannel reports. The fund owned 3,429,369 shares of the financial services provider’s stock after buying an additional 47,548 shares during the quarter. Bank of America comprises 0.6% of Retirement Systems of Alabama’s holdings, making the stock its 25th biggest position. Retirement Systems of Alabama’s holdings in Bank of America were worth $176,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quaker Wealth Management LLC lifted its stake in shares of Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after buying an additional 880 shares in the last quarter. RMG Wealth Management LLC purchased a new position in Bank of America in the 2nd quarter valued at approximately $28,000. Steph & Co. raised its holdings in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares during the period. CGC Financial Services LLC raised its holdings in Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 521 shares during the period. Finally, Marquette Asset Management LLC purchased a new stake in shares of Bank of America during the third quarter worth $30,000. Institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Bank of America Stock Performance

Shares of BAC opened at $51.75 on Friday. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. The stock has a 50-day moving average price of $54.06 and a 200-day moving average price of $51.36.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the firm posted $0.82 earnings per share. Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAC. Barclays lifted their price target on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Royal Bank Of Canada lifted their target price on Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Ameriprise Financial raised shares of Bank of America to a “buy” rating in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, Citigroup boosted 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $59.74.

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.