State of Michigan Retirement System Increases Position in Bank of America Corporation $BAC

State of Michigan Retirement System boosted its position in Bank of America Corporation (NYSE:BAC) by 3.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,963,412 shares of the financial services provider’s stock after acquiring an additional 61,200 shares during the period. Bank of America comprises approximately 0.5% of State of Michigan Retirement System’s holdings, making the stock its 29th biggest holding. State of Michigan Retirement System’s holdings in Bank of America were worth $101,292,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC boosted its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in Bank of America by 8.0% in the 2nd quarter. Clear Creek Financial Management LLC now owns 9,413 shares of the financial services provider’s stock worth $445,000 after buying an additional 698 shares during the last quarter. Fulton Breakefield Broenniman LLC purchased a new stake in Bank of America in the 2nd quarter valued at about $212,000. Finally, Leo Wealth LLC increased its stake in shares of Bank of America by 75.4% during the 2nd quarter. Leo Wealth LLC now owns 13,187 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 5,669 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BAC shares. Wall Street Zen cut shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Robert W. Baird lifted their price target on shares of Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. CICC Research initiated coverage on Bank of America in a report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Oppenheimer increased their target price on Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Bank of America News Summary

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

• Positive Sentiment: Wall Street peers and BAC are boosting bonus pools by at least 10%, a market signal that investment‑banking and markets revenue was strong in 2025 — this supports investor confidence in BAC’s profitability and retention. JPMorgan, Goldman, Bank of America Boost Bonus Pools by at Least 10%
• Positive Sentiment: Reports that BofA plans to revamp credit‑card offerings and is leveraging AI to boost consumer profit have investors expecting higher card revenue and improved margins over time. Product revamps + steady dividends are a clear near‑term positive for bank earnings outlook. Bank of America to revamp credit cards to fuel consumer profit – report
• Positive Sentiment: HSBC nudged its BAC price target up to $57 from $55 (hold), a modest analyst backing that removes some near‑term downside uncertainty. HSBC adjusts price target on Bank of America to $57 from $55; maintains hold rating
• Neutral Sentiment: BofA announced full redemption of its Series DD preferred stock — a corporate capital action that simplifies the capital structure; impact depends on how the redemption is funded and future capital allocation. Bank of America Announces Full Redemption of Its Series DD Preferred Stock and Related Depositary Shares
• Neutral Sentiment: Strategist Michael Hartnett’s “Main Street over Davos” theme and calls to favor midcaps reflect positioning advice from BofA Research; useful for market positioning but not an immediate earnings catalyst for BAC itself. ‘Stay Long Detroit, Short Davos’: Why BofA’s Hartnett Sees A Main Street Boom Ahead Of The Midterms
• Negative Sentiment: BofA Institute flagged that middle‑class wage growth is stalling — a potential headwind for consumer spending, card volumes and loan performance if the trend persists. Bank of America Warns Middle Class Wages Are Stalling
• Negative Sentiment: BofA’s market strategist also warns that a two‑decade high in its “bull and bear” indicator could signal a market peak — an elevated macro risk that could pressure bank shares if broader risk appetite falls. Two‑decade high for Bank of America’s ‘bull and bear’ indicator points to stock‑market peak, strategist says

Bank of America Stock Up 2.9%

Shares of Bank of America stock opened at $56.54 on Friday. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The stock has a market cap of $412.88 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.34 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. The company has a fifty day moving average price of $54.38 and a 200 day moving average price of $51.81.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 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 company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same period last year, the company posted $0.82 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.0%. Bank of America’s payout ratio is 29.24%.

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.