Baird Upgrades Bank of America to Outperform Amid Increased Fund Interest

On March 7, 2025, Baird raised its rating for Bank of America (WBAG:BOAC) from Neutral to Outperform.

Shifting Fund Sentiment

Currently, 4,602 funds and institutions report holdings in Bank of America, reflecting an increase of 326 owners, or 7.62%, over the last quarter. The average portfolio weight for funds dedicated to Bank of America now stands at 0.69%, marking a significant rise of 95.43%. Additionally, the total number of shares owned by institutional investors grew by 6.23% in the past three months, reaching 6,412,882K shares.

Actions of Major Shareholders

Berkshire Hathaway holds 680,234K shares, representing an 8.94% stake in the company. This marks a decrease from the 797,683K shares reported previously, which translates to a decline of 17.27%. Over the last quarter, Berkshire Hathaway lowered its portfolio allocation in BOAC by 5.83%.

Vanguard Total Stock Market Index Fund (VTSMX) holds 216,279K shares, equating to 2.84% ownership. In its previous filing, the fund accounted for 221,362K shares, a decrease of 2.35%. However, its portfolio allocation in BOAC increased by 6.65% last quarter.

The Vanguard 500 Index Fund (VFINX) possesses 180,696K shares, which corresponds to a 2.38% stake. This represents an increase from the 176,813K shares reported earlier, a change of 2.15%. This fund also increased its BOAC portfolio allocation by 7.09% in the recent quarter.

JPMorgan Chase has 169,884K shares, representing a 2.23% ownership. This is an increase from the 149,404K shares previously reported, amounting to a 12.06% rise. The firm’s allocation in BOAC jumped by 23.41% over the last quarter.

Geode Capital Management maintains 142,289K shares, which is 1.87% of the company’s ownership. Previously, the firm held 140,256K shares, an increase of 1.43%. Geode also raised its BOAC portfolio allocation by 7.70% in the last quarter.

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This article originally appeared on Fintel.

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