Illinois Municipal Retirement Fund Increases Stock Holdings in Bank of America Corporation $BAC

Illinois Municipal Retirement Fund boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,719 shares of the financial services provider’s stock after buying an additional 9,673 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of America were worth $20,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. DecisionMap Wealth Management LLC grew its stake in shares of Bank of America by 4.7% during the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 182 shares during the last quarter. Money Concepts Capital Corp increased its holdings in shares of Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 182 shares in the last quarter. Holistic Financial Partners raised its position in shares of Bank of America by 2.4% in the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 183 shares during the last quarter. Operose Advisors LLC raised its position in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its stake in Bank of America by 1.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 187 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Bank of America Stock Performance

BAC opened at $61.62 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $62.03. The firm has a 50 day moving average of $54.93 and a two-hundred day moving average of $53.05. The firm has a market capitalization of $437.31 billion, a PE ratio of 14.13, a P/E/G ratio of 1.01 and a beta of 1.17.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts anticipate that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. Bank of America’s payout ratio is currently 27.72%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wells Fargo & Company raised their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Truist Financial upped their target price on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, UBS Group raised their target price on Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.

More Bank of America News

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here’s What’s Driving It — and Whether the Move Lasts.

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.