iA Global Asset Management Inc. Sells 52,770 Shares of Bank of America Corporation $BAC

iA Global Asset Management Inc. cut its holdings in Bank of America Corporation (NYSE:BAC) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,810 shares of the financial services provider’s stock after selling 52,770 shares during the quarter. iA Global Asset Management Inc.’s holdings in Bank of America were worth $27,384,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BAC. Quaker Wealth Management LLC increased its stake in shares of Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 880 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Bank of America in the 2nd quarter worth approximately $28,000. Steph & Co. grew its stake in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares during the last quarter. CGC Financial Services LLC increased its position in Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after buying an additional 521 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new position in Bank of America during the third quarter valued at $30,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

More Bank of America News

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

• Positive Sentiment: Q4 fundamentals and last year’s performance remain a tailwind: analysts point to strong revenue growth and improving profitability that powered BAC’s rally into 2025. Article Title
• Positive Sentiment: Major brokerage support: Morgan Stanley remains bullish on BAC after strong Q4 results, which can underpin investor confidence and buying. Article Title
• Positive Sentiment: Macro/earnings backdrop is supportive: multiple industry notes (Zacks) show Q4 earnings estimates are being revised higher, a favorable environment for large banks including BAC. Article Title
• Neutral Sentiment: BofA research is active in tech and energy ideas (e.g., highlighting small-cap chip names tied to AI), showing the firm’s revenue/analyst franchise but with limited direct impact on BAC stock moves. Article Title
• Neutral Sentiment: Analyst activity from BofA Securities (e.g., upgrading Oklo and sector calls on semiconductors) signals the bank’s influential equity research but affects BAC indirectly. Article Title Article Title
• Negative Sentiment: Regulatory risk: CEO Brian Moynihan warned a proposed 10% credit-card rate cap would curb spending and tighten credit availability — any move toward strict caps could pressure card revenue. Article Title
• Negative Sentiment: Political/PR friction: reports that BofA (and peers) may consider 10% card offers to appease political pressure, and Moynihan’s exclusion from a Trump Davos reception, introduce headline risk and potential policy-driven business changes. Article Title Article Title
• Negative Sentiment: Short-term sentiment swings: options commentary mentions “Greenland-related fears” and other narrative-driven worries that can amplify stock volatility even if fundamentals remain intact. Article Title

Bank of America Stock Performance

Shares of NYSE BAC opened at $52.42 on Friday. The firm’s 50-day moving average price is $54.08 and its 200-day moving average price is $51.31. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55. The company has a market cap of $382.80 billion, a PE ratio of 13.69, a PEG ratio of 1.27 and a beta of 1.29. 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 (NYSE:BAC) last issued its quarterly earnings data 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. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $28.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAC. Morgan Stanley cut their target price 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. Evercore ISI set a $59.00 price objective on shares of Bank of America in a research report on Thursday, January 15th. Phillip Securities lifted their target price on shares of Bank of America from $50.00 to $56.00 in a report on Tuesday, October 21st. 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. Finally, Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.74.

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.