Phillip Securities Boosts Bank of America’s Rating to Accumulate
On October 18, 2024, Phillip Securities raised its outlook for Bank of America (BVC:BAC) from Neutral to Accumulate.
Institutional Investment Trends
Currently, 4,235 funds and institutions report holding positions in Bank of America, which shows an increase of 45 owners, or 1.07%, from the previous quarter. The average portfolio weight for all funds invested in BAC stands at 0.67%, marking an increase of 2.51%. Over the past three months, total shares owned by institutions rose by 2.94%, reaching 6,280,126K shares.
Berkshire Hathaway continues to hold 1,032,852K shares of Bank of America, representing 13.43% ownership, with no changes over the last quarter.
The Vanguard Total Stock Market Index Fund (VTSMX) holds 209,897K shares, accounting for 2.73% ownership. This reflects a slight decrease of 0.17% from the previous quarter when the firm owned 210,263K shares, despite increasing its portfolio allocation in BAC by 1.81% during the same period.
Vanguard 500 Index Fund (VFINX) holds 174,622K shares, which equates to 2.27% ownership. This is a modest increase of 0.64% from the 173,507K shares it reported last quarter, although the portfolio allocation in BAC decreased by 0.08%.
JPMorgan Chase has increased its holdings to 147,816K shares, which represents 1.92% ownership. This is a 0.63% rise from the 146,885K shares reported in the last filing, with a 2.49% increase in its portfolio allocation in BAC.
Geode Capital Management now owns 138,556K shares, also reflecting a 1.80% ownership stake. This shows an increase of 1.10% from its previous total of 137,026K shares and a 0.63% rise in portfolio allocation over the last quarter.
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