Bank of America Corporation $BAC Holdings Lifted by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its position in shares of Bank of America Corporation (NYSE:BAC) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 409,332 shares of the financial services provider’s stock after acquiring an additional 24,548 shares during the quarter. DAVENPORT & Co LLC’s holdings in Bank of America were worth $22,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Brighton Jones LLC grew its stake in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 6,174 shares during the last quarter. North Star Asset Management Inc. boosted its holdings in Bank of America by 18.2% during the second quarter. North Star Asset Management Inc. now owns 11,048 shares of the financial services provider’s stock worth $523,000 after buying an additional 1,700 shares in the last quarter. Richmond Investment Services LLC bought a new stake in Bank of America during the second quarter worth approximately $275,000. Finally, Boston Partners grew its position in Bank of America by 32.8% in the second quarter. Boston Partners now owns 8,405,793 shares of the financial services provider’s stock worth $397,641,000 after buying an additional 2,076,378 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction dated Thursday, March 12th. The stock was 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 of the company’s stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 227,832 shares of company stock worth $11,094,960. 0.30% of the stock is currently owned by company insiders.

Bank of America Price Performance

Shares of NYSE:BAC opened at $48.74 on Thursday. The company’s fifty day moving average is $51.24 and its two-hundred day moving average is $52.30. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a market cap of $348.25 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.28.

Bank of America (NYSE:BAC) last issued its earnings results 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 business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Bank of America’s revenue was up 12.3% compared to the same quarter last year. Equities analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio is currently 29.24%.

Analyst Ratings Changes

A number of brokerages have recently commented on BAC. Barclays increased their price objective on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Royal Bank Of Canada lifted their target price on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Daiwa Securities Group cut their target price on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. Argus upped their target price on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. increased their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.87.

More Bank of America News

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

• Positive Sentiment: BofA sets up a private-capital M&A team to advise on private-equity exits — a direct revenue opportunity from advisory fees as PE managers look to sell or recap assets; the hire signals the bank is chasing fee pools in private markets. Article Title
• Positive Sentiment: Market notes and wire stories highlighting BAC’s outperformance vs. the broader market provide short-term bullish momentum and may attract active flows into the name. Article Title
• Neutral Sentiment: BofA’s research team has been active — initiating and upgrading coverage on AI-infrastructure names (CoreWeave, Nebius) and reinstating coverage on Oracle — which bolsters the firm’s sell-side profile but is indirect for BAC’s fundamentals. Strong research can help trading and investment-banking pipelines over time. Article Title Article Title
• Neutral Sentiment: Analyst and market commentary about the financial sector (XLF) frames BAC as a core bank exposure in a deeply underperformed sector — that could support longer-term flows if sector rotation resumes, but broader NIM and mortgage headwinds remain. (Sector context: watch rates/NIM and loan growth.)
• Neutral Sentiment: Expectations for BAC’s upcoming quarterly report are for modest earnings growth; preview coverage and “what to expect” pieces are keeping the name on investors’ radars but don’t change near-term fundamentals absent surprises. Article Title
• Negative Sentiment: An outside bearish price forecast from Goldman Sachs was published, which could weigh on sentiment and prompt some profit-taking or cautious positioning by institutional investors. Article Title

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.