Norges Bank, Norway's central bank, acquired a new stake in Bank of America valued at approximately $4.77 billion. The investment consists of 86.8 million shares. This purchase represents a 1.19% ownership stake in the financial giant.
The move follows Bank of America’s first-quarter 2026 results, which surpassed analyst estimates for earnings and revenue. The bank also reaffirmed its quarterly dividend of $0.28 per share.
Other institutional investors, including Washington Trust Co, have also increased their holdings. Analysts currently rate the stock as a Moderate Buy.