Korea Investment Reduces $25M in Bank of America Corporation ($BAC)
Korea Investment cut its Bank of America holdings by 433,119 shares, a 9.2% decrease.
Key Points
- Korea Investment cut its Bank of America holdings by 433,119 shares, reducing its position by 9.2% to 4,258,298 shares as of the latest filing.
- Bank of America shares on the NYSE traded at $56.02 with a market cap of $397.6 billion and a P/E ratio of 13.9.
- Insiders, including CEO Brian Moynihan, were active in recent transactions, with several buys and sells reported in May 2026.
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Korea Investment has reduced its stake in Bank of America Corporation (NYSE: BAC) by 433,119 shares, according to its latest Form 13F filing with the SEC. This move represents a 9.2% decrease in its holdings, bringing its total shares to 4,258,298, valued at approximately $238.5 million as of the reporting period.
What Changed in Korea Investment's Bank of America Position
Korea Investment trimmed its Bank of America shares from 4,691,417 to 4,258,298, a reduction of 433,119 shares. This 9.2% decrease in holdings reflects a strategic adjustment in the fund's portfolio, now valued at about $238.5 million.
Other Institutional Activity in Bank of America
In other institutional moves, BlackRock, Inc. reduced its Bank of America shares by 3,217,508, ending with 539,258,516 shares worth about $26.3 billion. Berkshire Hathaway Inc. also cut its position by 3,671,769 shares, holding 513,624,165 shares valued at $25 billion. Vanguard Capital Management LLC maintained its stake, holding 409,704,665 shares valued at nearly $20 billion. Meanwhile, State Street Corp reduced its stake by 4,590,520 shares, now holding 301,309,309 shares valued at approximately $14.4 billion. FMR LLC made a significant reduction of 16,296,846 shares, ending with 198,484,617 shares worth about $9.7 billion.
Bank of America Corporation Stock Down 8.6%
Shares of Bank of America (NYSE: BAC) are trading around $56.02. The company has a market cap of approximately $397.6 billion and a P/E ratio of 13.9. Its forward P/E is 11.1, and it carries a beta of 1.196. Over the past year, the stock has ranged from a low of $44.06 to a high of $57.55. The 50-day moving average is $52.37, while the 200-day moving average stands at $52.11.
$BAC stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Bank of America reported revenue of $109.6 billion, showing a growth rate of 8.1%. The company's net margin is 28.96%, and its return on equity is 10.64%. Earnings per share (EPS) stand at $4.03. The next earnings report is expected on July 14, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
6 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 8.6%. Revenue met estimates.
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Profit surprise
Operating income missed by 10 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
6 target raises.
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Earnings quality
Gross margin up 40.5 points. Operating margin up 17.1 points. Positive free cash flow.
Earnings Call Summary
Bank of America delivered strong first quarter results with revenue up seven percent year over year to thirty point three billion dollars and earnings per share up twenty five percent to one dollar and eleven cents. The bank benefited from robust client activity, improved efficiency with operating leverage of two hundred ninety basis points, and stable asset quality with provision expense down to one point three billion. Management highlighted strength across all business segments, particularly in investment banking which was up twenty one percent, equities trading which had its best quarter ever, and wealth management which showed solid client flows and margin improvement.
Guidance Bank of America raised its full year net interest income growth guidance to six to eight percent from prior expectations. The bank expects continued balanced loan and deposit growth to support this outlook, with net interest income already up nine percent year over year in the first quarter. Management noted that net interest income exceeded expectations at fifteen point nine billion dollars.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Bank of America pays an annual dividend rate of $1.12, yielding 2.0%. The dividend payout ratio is 27.3%.
Insider Buying and Selling at Bank of America Corporation
Insider activity at Bank of America in May 2026 includes several transactions. CEO Brian Moynihan bought 18,083 shares and also sold the same amount on May 15. Chief Risk Officer Geoffrey Greener sold 126,756 shares at an average price of $53.01 on May 5. Additionally, insiders Maria Zuber and Michael White each purchased 5,365 shares on May 4.
Analysts Set New Price Targets
On April 16, 2026, Piper Sandler maintained a hold rating on Bank of America with a $59 price target. Oppenheimer, Evercore ISI Group, and Truist Securities each maintained a buy rating, setting a $61 target. RBC Capital reiterated a buy rating with a $59 target. Keefe, Bruyette & Woods maintained a buy rating with a $64 target. JP Morgan, on April 7, maintained a buy rating with a $57.5 target.
About Bank of America
Bank of America Corporation is a leading financial institution based in Charlotte, North Carolina. It offers a wide range of financial services and products to individuals, businesses, and governments worldwide. The company operates through four main segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. With a workforce of 212,000, Bank of America is led by CEO Brian Moynihan.
Bottom Line
Korea Investment's recent reduction in its Bank of America holdings is a noteworthy adjustment, reflecting its strategic portfolio management. Investors often track these 13F filings to gauge institutional sentiment, though it's important to remember these reports are backward-looking and may not reflect current positions. Bank of America's solid financial metrics and active insider trading continue to make it a closely watched stock.
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