Chevy Chase Trust Holdings LLC Buys 12,529 Shares of Bank of America Corporation $BAC

Chevy Chase Trust Holdings LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,550,243 shares of the financial services provider’s stock after purchasing an additional 12,529 shares during the period. Bank of America makes up about 0.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 28th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Bank of America were worth $183,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BAC. Capital World Investors raised its position 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 worth $7,448,816,000 after purchasing an additional 14,275,810 shares during the last quarter. Norges Bank bought a new position in Bank of America in the 2nd quarter valued at $5,091,641,000. Fisher Asset Management LLC boosted its position in Bank of America by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock valued at $2,717,657,000 after buying an additional 1,272,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Bank of America by 640.5% in the 3rd 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 valued at $2,399,798,000 after buying an additional 40,235,201 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Bank of America by 3.4% in the 3rd 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 buying an additional 1,458,551 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Down 0.9%

Shares of Bank of America stock opened at $46.72 on Friday. The business has a fifty day simple moving average of $52.52 and a 200 day simple moving average of $52.47. The stock has a market cap of $335.32 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.28. 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.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts predict that Bank of America Corporation will post 3.7 EPS 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. Investors of record on Friday, March 6th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on 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 transaction, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the transaction, the insider owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock worth $11,094,960 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Bank of America News Summary

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus upped their price target on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Royal Bank Of Canada lifted 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. Truist Financial dropped their price objective on Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Wells Fargo & Company upped their target price on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, CICC Research initiated coverage on shares of Bank of America in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 target price on the stock. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

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.