Bank of America Corporation $BAC Shares Acquired by AIA Group Ltd

AIA Group Ltd boosted its position in Bank of America Corporation (NYSE:BAC) by 61.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 394,359 shares of the financial services provider’s stock after purchasing an additional 149,652 shares during the quarter. AIA Group Ltd’s holdings in Bank of America were worth $20,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 worth $7,448,816,000 after acquiring an additional 14,275,810 shares during the period. Norges Bank acquired a new stake in shares of Bank of America during the second quarter worth $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 purchasing an additional 1,272,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Bank of America by 640.5% in 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 valued at $2,399,798,000 after purchasing 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 period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BAC. Erste Group Bank downgraded Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Evercore set a $59.00 price target on Bank of America in a report on Thursday, January 15th. Wells Fargo & Company increased their price objective on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Piper Sandler raised their target price on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Finally, HSBC boosted their target price on shares of Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a report on Friday, February 6th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America News Summary

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

• Positive Sentiment: Bank of America raised its hyperscaler debt forecast — more large tech bond issuance (e.g., Amazon’s $54B deal) could lift investment‑banking and markets fees. BofA Lifts Hyperscaler Debt Forecast
• Positive Sentiment: BofA updated oil/energy views after a supply shock — the bank now expects higher Brent prices for 2026, which can boost corporate activity and trading revenue tied to energy clients. Oil shock lifts BofA outlook on US energy
• Positive Sentiment: Digital experience strength — Keynova’s Q1 mobile scorecard ties Bank of America for the No.1 mobile app, supporting its consumer franchise and deposit retention. Banks Strengthen Mobile Account Opening
• Positive Sentiment: Management outreach: BAC presented at the RBC conference emphasizing strategic priorities and a constructive outlook — useful for investors assessing guidance and capital deployment. BAC Presents at RBC Conference
• Neutral Sentiment: BofA research remains bullish on Nvidia and is recommending buying NVDA on dips — positive for BofA’s research reputation and potential trading flows but not a direct driver of BAC operating results. BofA Still Loves Nvidia
• Neutral Sentiment: BofA flagged opportunities amid private‑credit turmoil (Ares saw gains after the note) — the commentary highlights both risk monitoring and potential asset‑management opportunities. Ares Stock Pops
• Neutral Sentiment: BofA disclosed voting‑stake movement in Galapagos (fell below 5%) — a regulatory/holding update with limited direct impact on BAC’s core business. Galapagos Discloses BofA Stake Drop
• Negative Sentiment: Sector weakness: multiple outlets note bank stocks (including BAC) sliding as private‑credit worries act as a canary for broader credit stress — this is a direct driver of today’s share weakness. Bank Stocks Are the Canary
• Negative Sentiment: Epstein settlement focus raises governance and valuation scrutiny — any legal/settlement headlines increase investor caution around reputational and governance risks. Epstein Settlement Puts BofA Valuation And Governance In Focus
• Negative Sentiment: Executive movement: Elavon named a new CEO who was recruited from Bank of America — the departure of a payments/merchant‑services leader is a small negative for continuity in that business line. Elavon Picks BofA Vet Wally Mlynarski

Insider Activity at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.30% of the company’s stock.

Bank of America Stock Performance

Bank of America stock opened at $46.79 on Thursday. The company has a market cap of $335.78 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. 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 moving average is $51.95 and its 200-day moving average is $52.40.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio is 29.24%.

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.