Bank of America Corporation (BAC) is one of the largest financial institutions in the United States.
Here are the top 10 shareholders of Bank Of America as of 9/14/2023.
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1. Berkshire Hathaway Inc
- Ownership: 12.96%
- Shares Held: 1,032,852,006
2. The Vanguard Group Inc
- Ownership: 7.27%
- Shares Held: 579,634,978
3. BlackRock Fund Advisors
- Ownership: 3.84%
- Shares Held: 306,235,272
4. SSGA Funds Management Inc
- Ownership: 3.60%
- Shares Held: 286,796,797
5. Fidelity Management Research Co
- Ownership: 1.89%
- Shares Held: 150,191,423
6. Geode Capital Management LLC
- Ownership: 1.60%
- Shares Held: 127,236,515
7. Norges Bank Investment Management
- Ownership: 1.30%
- Shares Held: 103,760,365
8. T. Rowe Price Associates Inc
- Ownership: 1.22%
- Shares Held: 97,277,191
9. JPMorgan Investment Management
- Ownership: 1.21%
- Shares Held: 96,666,628
10. Northern Trust Investments Inc
- Ownership: 0.74%
- Shares Held: 59,046,254
Click here to check the current Share Price of Bank of America Corporation (BAC) on Robinhood!
What Is Bank Of America?
Bank of America is one of the largest and most prominent financial institutions in the United States. It is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina.
Bank of America provides a wide range of banking services, including retail and commercial banking, wealth management, asset management, investment banking, and more.
Key aspects of Bank of America include:
- Retail Banking: Bank of America offers various retail banking services, such as checking and savings accounts, credit cards, mortgages, auto loans, personal loans, and more. It has a vast network of branches and ATMs across the United States.
- Commercial Banking: The bank serves a wide range of businesses, from small and mid-sized enterprises to large corporations, providing commercial banking solutions, cash management services, and business loans.
- Wealth Management: Bank of America's wealth management division, often referred to as Merrill Lynch, offers financial advisory services, investment management, and retirement planning for individuals and institutions.
- Investment Banking: The bank has a significant presence in investment banking, providing services related to mergers and acquisitions, capital raising, and corporate finance for businesses.
- Asset Management: Bank of America's asset management division manages various investment funds and provides investment solutions for individuals, institutions, and retirement plans.
- Global Presence: While it is headquartered in the United States, Bank of America has a global presence with operations in numerous countries and serves clients around the world.
- History: Bank of America has a long and storied history, with its origins dating back to the Bank of Italy, founded by A.P. Giannini in San Francisco in 1904. It later merged with Bank of America, Los Angeles, to become the Bank of America we know today.
Bank of America is considered one of the "Big Four" banks in the United States, along with JPMorgan Chase, Wells Fargo, and Citibank.
It plays a significant role in the country's financial system and is a major player in the global banking industry.
Several institutional investors hold sizable stakes in BAC, highlighting the broad appeal of the company among large investors.