Resona Asset Management Co. Ltd. Cuts Holdings in Bank of America Corporation $BAC

Posted by Brenda Bartman on Jul 9th, 2026

Resona Asset Management Co. Ltd. decreased its holdings in Bank of America Corporation (NYSE:BAC) by 0.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,149,467 shares of the financial services provider’s stock after selling 15,532 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Bank of America were worth $104,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BAC. Abound Financial LLC purchased a new position in shares of Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the 3rd quarter worth $27,000. Legacy Bridge LLC lifted its stake in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. CrossGen Wealth LLC bought a new stake in Bank of America during the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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

Positive Sentiment: Bank of America extended OpenAI a $520 million credit line, its first loan to the AI company, signaling BAC is deepening relationships in one of the market’s fastest-growing sectors and strengthening its reputation as a major AI financier. BofA extends first $520 million loan to OpenAI ahead of IPO, source says
Positive Sentiment: Analysts at Bank of America reiterated a Buy rating on Nvidia and called it a “unique, durable growth franchise,” reinforcing BAC’s credibility on AI-related equity research and its exposure to the broader AI investment theme. BofA Says Buy Nvidia (NVDA) Stock, Calls It a ‘Unique, Durable Growth Franchise’
Positive Sentiment: Bank of America also reiterated a Buy on Nvidia and said current valuation already reflects overly cautious expectations, which may support investor sentiment toward BAC’s analyst franchise and AI-linked banking activity. Nvidia backed by Bank of America as analysts see AI leadership supporting further growth
Positive Sentiment: Bank of America’s stock has also benefited from stronger sector sentiment and recent optimism around its stress-test results and payments initiatives, which suggests investors are still comfortable with BAC’s capital position and earnings outlook. Why Bank of America Stock Jumped in June

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Bank of America Price Performance

Shares of BAC stock opened at $58.38 on Thursday. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $60.83. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $414.33 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.00 and a beta of 1.17. The stock’s 50-day simple moving average is $54.24 and its 200-day simple moving average is $52.90.

Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. As a group, equities analysts forecast that Bank of America Corporation will post 4.49 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.28 dividend. 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 1.9%. Bank of America’s dividend payout ratio (DPR) is currently 27.72%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BAC. Morgan Stanley boosted their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer lowered shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Jefferies Financial Group increased their target price on shares of Bank of America from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Autonomous Res lowered their target price on shares of Bank of America from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.19.

View Our Latest Analysis on BAC

Bank of America Profile

(Free Report)

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.