BlackRock Updates Passive Stake in Bank of America (BAC)
Ticker: BACRP · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 70858
| Field | Detail |
|---|---|
| Company | Bank Of America CORP /De/ (BACRP) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, SEC-filing
TL;DR
**BlackRock just updated its passive stake in Bank of America, signaling continued institutional interest.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 29, 2024, indicating its ownership of Bank of America Corporation's common stock as of December 31, 2023. This filing, Amendment No. 11, updates previous disclosures about BlackRock's passive investment in Bank of America. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal its confidence (or lack thereof) in the company's future performance, potentially influencing other investors' decisions.
Why It Matters
This filing shows BlackRock's continued, albeit passive, investment in Bank of America, which can be seen as a vote of confidence from a major institutional investor. Investors often watch large institutional holdings as an indicator of a stock's perceived stability and long-term value.
Risk Assessment
Risk Level: low — This is a routine update from a passive investor and does not indicate any immediate risk or significant change in company fundamentals.
Analyst Insight
Investors should note BlackRock's continued passive interest in Bank of America, but this filing alone doesn't suggest a need for immediate action. It's a routine update from a major institutional holder, reinforcing existing market perceptions rather than introducing new information.
Key Players & Entities
- BlackRock Inc. (company) — the entity filing the SC 13G/A, reporting its ownership
- Bank of America Corporation (company) — the issuer whose common stock is being reported
- December 31, 2023 (date) — the date of the event which required the filing of this statement
- January 29, 2024 (date) — the date the SC 13G/A was filed
- Amendment No. 11 (number) — the specific amendment number of this filing
Forward-Looking Statements
- BlackRock will continue to hold a significant, passive stake in Bank of America for the foreseeable future. (BlackRock Inc.) — high confidence, target: 2025-12-31
FAQ
What type of filing is this and what does it generally mean?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It indicates that BlackRock Inc. is a passive institutional investor holding more than 5% of Bank of America Corporation's common stock, and this specific filing updates their previously reported ownership as of December 31, 2023.
Who is the 'subject company' in this filing?
The subject company, whose securities are being reported, is BANK OF AMERICA CORP /DE/ (Central Index Key: 0000070858), located at Bank of America Corporate Center, 100 N Tryon St, Charlotte, NC 28255.
Who is the 'filed by' entity in this document?
The entity that filed this document is BlackRock Inc. (Central Index Key: 0001364742), located at 50 Hudson Yards, New York, NY 10001.
What is the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' is December 31, 2023, as stated in the filing.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of Bank of America Corporation, as stated in the filing, is 060505104.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding BANK OF AMERICA CORP /DE/ (BACRP).