Baird Upgrades Bank of America Preferred Stock to Outperform

Fintel reports that on March 7, 2025, Baird upgraded its outlook for Bank of America Corporation – Preferred Stock (NYSE:BAC.PRB) from Neutral to Outperform.

Fund Sentiment Overview

Currently, 22 funds or institutions are reporting positions in Bank of America Corporation – Preferred Stock. This marks a decrease of three owners, or 12.00%, from the previous quarter. Meanwhile, the average portfolio weight of all funds allocated to BAC.PRB has increased by 10.38% to 0.47%. Institutional ownership has also risen by 0.62%, totaling 7,812K shares over the last three months.

Activity Among Other Shareholders

Several major ETFs have adjusted their positions as follows:

• PFF – iShares Preferred and Income Securities ETF: Holds 2,714K shares, up from 2,694K shares, reflecting a 0.75% increase. The portfolio allocation in BAC.PRB has risen by 7.01% over the last quarter.
• PGX – Invesco Preferred ETF: Holds 2,229K shares, increasing from 2,169K shares, which is a 2.68% increase. The portfolio allocation in BAC.PRB has been raised by 1.20%.
• PFFD – Global X U.S. Preferred ETF: Holds 932K shares, down from 957K shares, marking a 2.72% decrease in ownership. Portfolio allocation in BAC.PRB was decreased by 4.47%.
• PGF – Invesco Financial Preferred ETF: Holds 680K shares, increasing from 639K shares, representing a 6.04% increase in shares owned. The portfolio allocation in BAC.PRB grew by 3.70% over the last quarter.
• PSK – SPDR(R) Wells Fargo Preferred Stock ETF: Holds 256K shares, up from 252K shares, for a 1.79% increase. The allocation for BAC.PRB increased by 8.96%.

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This story originally appeared on Fintel.

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