Payden & Rygel Has $29.38 Million Holdings in Bank of America Corporation $BAC

Payden & Rygel reduced its stake in Bank of America (NYSE:BAC) by 6.1% in the third quarter, now holding 569,400 shares valued at $29.38 million, representing its seventh-largest position. Bank of America plans to invest $25 billion into private credit and is revamping its no-fee rewards checking program to boost fee income and deposits. The stock currently has a “Moderate Buy” consensus rating with a $60.30 price target and pays a quarterly dividend of $0.28.

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