Covea Finance cut its stake in Bank of America Corporation (NYSE:BAC) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 725,300 shares of the financial services provider’s stock after selling 37,100 shares during the period. Bank of America accounts for approximately 1.3% of Covea Finance’s investment portfolio, making the stock its 22nd biggest holding. Covea Finance’s holdings in Bank of America were worth $39,892,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Capital World Investors grew its stake in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after buying an additional 14,275,810 shares during the last quarter. Norges Bank acquired a new stake in Bank of America during the second quarter worth approximately $5,091,641,000. Fisher Asset Management LLC boosted its holdings in shares of Bank of America by 2.5% during the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock worth $2,717,657,000 after acquiring an additional 1,272,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after acquiring an additional 40,235,201 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Bank of America by 3.4% in the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider’s stock valued at $2,266,045,000 after purchasing an additional 1,458,551 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.
Trending Headlines about Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Fed capital-reset plan could free up lending and boost banks’ growth and profitability — a tailwind for BAC if lower capital buffers translate into more loan activity and higher fee income. Fed’s Capital Reset: Lower Buffers, Increased Lending to Benefit Banks
- Positive Sentiment: Treasury market moves are pricing a higher chance of Fed hikes rather than cuts — higher rates generally support net interest margins for large banks like BAC, which can boost near‑term profitability. Treasuries Extend Slump as Likelihood of Fed Rate Cuts Fades
- Positive Sentiment: BofA’s digitization and AI initiatives are cited as unlocking revenue growth via 30B+ digital interactions, aiding cross‑selling and fee income beyond cost savings — supports the bank’s medium‑term revenue trajectory. Bank of America’s Digitization Initiatives Unlocking Revenue Growth
- Neutral Sentiment: Bank of America announced its 2026‑27 quarterly reporting schedule — routine corporate timing (low immediate market impact). Bank of America Announces Fourth Quarter 2026 and Quarterly 2027 Financial Reporting Dates
- Neutral Sentiment: Marketing partnership with Visa (FIFA World Cup sweepstakes) increases consumer engagement but is unlikely to move fundamentals in the near term. BofA Teams with Visa to Offer Cardholders a Chance to Win a Trip to the FIFA World Cup 2026™
- Neutral Sentiment: BofA analysts remain active and bullish on technology names (e.g., Nvidia, TSM), which signals institutional research strength but is not a direct driver of BAC’s stock. Bank of America Still Loves Nvidia Stock After GTC 2026. Should You?
- Negative Sentiment: BofA flagged a higher risk of Fed hikes amid oil‑driven inflation and geopolitical risk — such warnings can increase investor caution and weigh on risk assets and lending outlook if growth fears rise. Bank of America Warns of Fed Rate Hike Risk as Crypto Market Faces Pressure
- Negative Sentiment: Analysis noting the Fed kept rates steady while flagging rising inflation suggests a tougher near‑term outlook for bank earnings and credit conditions, which could cap BAC’s near‑term upside. Fed Keeps Rates Steady Amid Rising Inflation: What it Means for Banks
Bank of America Price Performance
Bank of America (NYSE:BAC – Get Free Report) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. As a group, research analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.
Bank of America Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.4%. Bank of America’s dividend payout ratio is currently 29.24%.
Insiders Place Their Bets
In other news, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,832 shares of company stock worth $11,094,960 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on BAC shares. Barclays lifted their price target on Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada increased their price objective on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. lifted their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Piper Sandler boosted their target price on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Finally, Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Twenty-one analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.30.
Check Out Our Latest Stock Analysis on Bank of America
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.
See Also
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC – Free Report).
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.
