Fagan Associates Inc. Acquires 13,818 Shares of Bank of America Corporation $BAC

Fagan Associates Inc. grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 7.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 201,667 shares of the financial services provider’s stock after purchasing an additional 13,818 shares during the period. Bank of America makes up approximately 1.4% of Fagan Associates Inc.’s holdings, making the stock its 19th largest position. Fagan Associates Inc.’s holdings in Bank of America were worth $10,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. First Commonwealth Financial Corp PA purchased a new stake in shares of Bank of America in the 3rd quarter worth approximately $258,000. Delta Global Management LP purchased a new position in Bank of America during the third quarter valued at $22,832,000. Elevation Point Wealth Partners LLC raised its stake in Bank of America by 527.7% during the third quarter. Elevation Point Wealth Partners LLC now owns 36,133 shares of the financial services provider’s stock valued at $1,864,000 after buying an additional 30,377 shares during the last quarter. Bollard Group LLC boosted its holdings in Bank of America by 5.0% in the third quarter. Bollard Group LLC now owns 204,442 shares of the financial services provider’s stock worth $10,547,000 after acquiring an additional 9,750 shares in the last quarter. Finally, CLG LLC boosted its holdings in Bank of America by 13.6% in the third quarter. CLG LLC now owns 8,867 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 1,059 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

More Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of “Moderate Buy”
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their price target on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Piper Sandler upped their price target on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Oppenheimer increased their price objective on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. TD Cowen reduced their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Finally, Erste Group Bank cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $60.30.

Bank of America Trading Down 0.9%

Shares of NYSE:BAC opened at $46.72 on Monday. The company has a market cap of $335.32 billion, a P/E ratio of 12.20, a PEG ratio of 1.14 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The stock’s fifty day moving average price is $52.52 and its 200-day moving average price is $52.48.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the company earned $0.82 EPS. Bank of America’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Insider Transactions at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock worth $11,094,960 over the last three months. 0.30% of the stock is currently owned by company insiders.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.