Bank of America Corporation $BAC Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its stake in shares of Bank of America Corporation (NYSE:BAC) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,461,832 shares of the financial services provider’s stock after selling 224,700 shares during the period. Primecap Management Co. CA’s holdings in Bank of America were worth $127,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BAC. Permanent Capital Management LP acquired a new position in Bank of America in the 3rd quarter worth about $649,000. Meridian Wealth Management LLC increased its position in shares of Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. raised its stake in shares of Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after buying an additional 86,290 shares during the period. World Equity Group Inc. lifted its position in shares of Bank of America by 21.8% during the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after buying an additional 13,119 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in shares of Bank of America during the 3rd quarter valued at approximately $482,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 1.1%

NYSE BAC opened at $52.28 on Friday. The business’s fifty day simple moving average is $54.02 and its 200-day simple moving average is $52.38. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $381.77 billion, a PE ratio of 13.65, a P/E/G ratio of 1.26 and a beta of 1.29. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55.

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

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s payout ratio is presently 29.24%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial cut their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Piper Sandler boosted their target price 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. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Morgan Stanley lowered their price target on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Finally, Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Key Bank of America News

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

• Positive Sentiment: Hedge funds and analysts are bullish on BAC: it ranks among the top bank picks for hedge funds and showed a highly bullish sentiment as of Feb. 23; coverage includes 19 analysts with 15 Buys and 4 Holds — a near-consensus buy bias that can drive demand. Here is Why Bank of America Corporation (BAC) is Highly Favored By Hedge Funds
• Positive Sentiment: Market-focused coverage notes BAC is outpacing broader market gains today, reinforcing momentum trading and short-term inflows into the stock. Bank of America (BAC) Outpaces Stock Market Gains: What You Should Know
• Positive Sentiment: BofA announced nearly $40M invested in U.S. workforce development (2025 programs), a publicity/ESG win that can support customer relationships and community ties — constructive for reputation and long-term deposit/consumer franchise. BofA Invests Nearly $40 Million into American Workforce Skills in 2025
• Neutral Sentiment: Analyst-comparison pieces highlight BAC’s relative upside vs. Wells Fargo driven by earnings growth, investment banking momentum and valuation — useful context for longer-term investors but not an immediate catalyst. Bank of America or Wells Fargo: Which Big Bank Offers More Upside?
• Neutral Sentiment: Corporate housekeeping: BofA filed its latest Form 10‑K with the U.K. National Storage Mechanism — a regulatory filing of record with no new operating implications. Bank of America Files Latest Form 10-K with U.K. National Storage Mechanism

Bank of America Profile

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.