Legal & General Group Plc Increases Stock Position in Bank of America Corporation $BAC

Legal & General Group Plc boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,924,104 shares of the financial services provider’s stock after buying an additional 1,458,551 shares during the quarter. Bank of America makes up 0.5% of Legal & General Group Plc’s holdings, making the stock its 26th biggest position. Legal & General Group Plc’s holdings in Bank of America were worth $2,266,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steph & Co. boosted its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 379 shares in the last quarter. Collier Financial purchased a new position in shares of Bank of America in the 3rd quarter valued at about $30,000. Marquette Asset Management LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at about $30,000. Mountain Hill Investment Partners Corp. acquired a new position in Bank of America in the 3rd quarter worth about $31,000. Finally, Wealth Preservation Advisors LLC boosted its position in Bank of America by 48.7% during the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC opened at $47.91 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $53.13 and its 200-day simple moving average is $52.55. The company has a market cap of $343.83 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.19 and a beta of 1.28. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.28 per share. 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 payout ratio is 29.24%.

Bank of America News Summary

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

• Positive Sentiment: Led a $2.75 billion leveraged loan to help fund Nexstar’s acquisition of Tegna — underwriting and lending fee revenue support BofA’s core spread and investment-banking activity. Bank of America Offers $2.75 Billion Loan for Tegna Acquisition
• Positive Sentiment: Published the 2026 U.S. Art Market Report with ArtTactic — a PR/wealth-management touchpoint that highlights BofA’s private-banking and UHNW client engagement. U.S. Art Market Rebounds, Posting a 23% Increase in Auction Sales
• Neutral Sentiment: BofA research flagged AI-driven winners around Nvidia’s GTC event — reinforces the bank’s equity research influence but is more a market/sector call than an immediate BAC driver. Nvidia’s big GTC event could spark a rally in these 5 stocks
• Neutral Sentiment: BofA warns about AI risks to software stocks — a thematic research call that may influence clients’ sector positioning but doesn’t directly change bank fundamentals. The AI Threat to Software Stocks Is Real, Warns Bank of America (BAC)
• Negative Sentiment: Several senior insiders sold shares recently (reported filings show multimillion-dollar disposals), which can pressure sentiment and raise governance/risk questions for short-term holders. Insider Selling: Bank of America (NYSE:BAC) Insider Sells $4,191,600.00 in Stock Insider Selling: Bank of America (NYSE:BAC) Insider Sells $2,491,000.00 in Stock
• Negative Sentiment: Coverage highlighted a funding mix shift from floating to fixed-rate funding — investors interpret this as a cautious risk-management move that could signal concerns about short-term liquidity/interest-rate positioning. Bank of America’s Funding Shift From Floating to Fixed: Subtle Clue About BAC’s Risk Strategy?
• Negative Sentiment: Strategist and risk-focused coverage flagged systemic risks (leveraged-loan exposures, bank-loan ETF stress, a public stance on crypto policy) — feeds a cautious narrative that likely weighed on the stock today. Bank Of America Risk Signals From Loans Crypto Policy And Insiders

Analyst Upgrades and Downgrades

Several analysts have commented on BAC shares. Piper Sandler raised their price objective on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. increased their target price 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. Truist Financial dropped their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Erste Group Bank lowered shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, 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 report on Thursday, January 15th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $60.30.

Insiders Place Their Bets

In related news, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’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 completion of the transaction, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Bank of America Company 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.