Sumitomo Mitsui DS Asset Management Company 13F: Cuts BAC Stake by $4.4M
Key Points
- Sumitomo Mitsui DS Asset Management Company trimmed its holdings in Bank of America Corporation by 5.4% during the period, ending with 1,385,321 shares worth about $75.4 million.
- Bank of America Corporation reported trailing twelve-month revenue of $114.9 billion alongside a net profit margin of 28.1%.
- Analyst firms including Citigroup, Morgan Stanley, Truist Securities, RBC Capital, and Barclays updated their views on Bank of America Corporation ahead of the filing.
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Sumitomo Mitsui DS Asset Management Company reduced its holdings in Bank of America Corporation (NYSE:BAC) during the period, according to a Form 13F filed with the Securities and Exchange Commission on October 20, 2026.
BAC
Bank of America Corporation
What Changed in Sumitomo Mitsui DS Asset Management Company's Bank of America Corporation Position
The fund trimmed its position by 80,126 shares, marking a 5.4% decrease from its previous holding of 1,465,447 shares. After the adjustment, the firm owned 1,385,321 shares of the banking giant. The remaining stake carried a reported value of $75,403,022 on the filing date.
Other Institutional Activity in Bank of America Corporation
Other major investors also adjusted their positions in the financial institution. Berkshire Hathaway, Inc reduced its holdings by 30,253,860 shares, ending with 483,394,015 shares worth about $24,479,072,624.
Bank of America Corporation Stock Down 0.2%
The company's shares recently traded around $51.15 as of October 21, 2026, sitting up about 1.0% from the event close of $50.64 on October 20, 2026.
Recent Earnings
Bank of America Corporation generated trailing twelve-month revenue of $114,874,998,784 with earnings of $4.19 per share. The bank is scheduled to release its next earnings report on January 15, 2027.
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
The company pays an annual dividend rate of $1.28 per share.
Insider Buying and Selling at Bank of America Corporation
Company insiders executed several transactions prior to the filing. Officer Thomas M Scrivener sold 50,000 shares on March 5, 2026, at an average price of $49.82 for a total value of $2,491,000. Officer Sheri B Bronstein sold 60,000 shares on March 5, 2026, at $49.91 per share totaling $2,994,600. Officer Bernard Amponsah Mensah disposed of 94,000 shares on March 12, 2026, at $46.94 for a total of $4,412,642. Officer Geoffrey S Greener sold 126,756 shares on May 5, 2026, at $53.00 per share worth $6,718,702.
Analysts Set New Price Targets
Research firms adjusted their outlooks on the stock ahead of the filing. On October 15, 2026, Citigroup maintained its Buy rating while lowering its price target from $66.00 to $60.00. Morgan Stanley kept an Overweight rating on October 15, 2026, reducing its target from $67.00 to $61.00. On the same day, Truist Securities kept a Buy rating while lowering its target from $62.00 to $58.00. RBC Capital maintained an Outperform rating on October 15, 2026, adjusting its target from $65.00 to $60.00. Barclays kept an Overweight rating on October 15, 2026, while lowering its price target from $72.00 to $68.00.
About Bank of America Corporation
Bank of America Corporation operates as a major financial institution providing banking, investing, and asset management services to consumers, businesses, and institutional clients across the globe through its various operating divisions.
Bottom Line
Institutional adjustments like this one offer a window into how large asset managers manage their portfolios. Investors will look toward the upcoming earnings release on January 15, 2027, for further updates on the bank's operational performance.
Related Filing Alerts
Source: Sumitomo Mitsui DS Asset Management Company's 13F filing on $BAC (Oct 20, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts