TD Asset Management Inc Boosts Holdings in Bank of America Corporation $BAC

TD Asset Management Inc raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,855,244 shares of the financial services provider’s stock after buying an additional 36,881 shares during the quarter. TD Asset Management Inc’s holdings in Bank of America were worth $147,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Bank of America by 0.3% during the second quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock valued at $6,982,863,000 after acquiring an additional 403,652 shares in the last quarter. Norges Bank purchased a new stake in Bank of America in the 2nd quarter worth $5,091,641,000. Fisher Asset Management LLC boosted its holdings in shares of Bank of America by 5.2% during the 2nd quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock valued at $2,432,516,000 after purchasing an additional 2,557,943 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Bank of America by 124.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after purchasing an additional 9,782,208 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Bank of America by 5.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,438,466 shares of the financial services provider’s stock valued at $899,650,000 after purchasing an additional 875,514 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $51.71 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock’s fifty day moving average is $54.06 and its two-hundred day moving average is $52.38. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a market capitalization of $377.63 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.29.

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

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio is currently 29.24%.

Key Bank of America News

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

• Positive Sentiment: Bank of America announced a strategic push into private credit with a $25 billion allocation and new leadership for the effort, plus expanded premium services (BofA Rewards enhancements and art consulting for HNW clients). That shift targets fee income and client stickiness, supporting revenue diversification and higher‑margin growth. Bank Of America Expands Private Credit And Premium Services As Valuation Lags
• Positive Sentiment: Recent quarterly results showed BAC beat EPS estimates and delivered revenue growth year‑over‑year, providing fundamental support for the rally as investors look for earnings resilience. (Company January quarterly release — earnings beat and revenue growth.)
• Neutral Sentiment: Analyst research/forecasts and model reports on BAC remain active; consolidated research pages and price forecasts can influence sentiment but provide mixed signals depending on time horizon. Bank of America Corporation (BAC) Stock Forecasts
• Negative Sentiment: Macro and sector headwinds have pressured BAC recently — private‑credit market churn (forced loan sales/redemptions at other firms) and U.S. tariff uncertainty have weighed on financials, prompting short‑term selling and volatility in bank shares. Bank Of America Stock Edges Lower As Private Credit Turmoil, Tariff Jitters Weigh On Financials
• Negative Sentiment: Commentary notes BAC has underperformed the S&P 500 over the past year, and recent market commentary flagged economic uncertainty pressuring big banks — factors that can cap multiple expansion even as fundamentals improve. Stock Market Today, Feb. 24: Bank of America Slips as Economic Uncertainty Pressures Big Banks Is Bank of America Stock Underperforming the S&P 500?

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Daiwa Securities Group reduced their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Oppenheimer raised their target price on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Keefe, Bruyette & Woods reduced 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 report on Thursday, January 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $60.30.

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.