Korea Investment Reduces $24M in Bank of America Corporation ($BAC)

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 Stock Snapshot

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.

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.

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.