Banque Pictet & Cie SA Has $44.99 Million Position in Bank of America Corporation $BAC

Banque Pictet & Cie SA cut its holdings in Bank of America Corporation (NYSE:BAC) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 817,948 shares of the financial services provider’s stock after selling 29,916 shares during the quarter. Banque Pictet & Cie SA’s holdings in Bank of America were worth $44,987,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wiser Advisor Group LLC bought a new position in shares of Bank of America in the 3rd quarter valued at approximately $27,000. Steph & Co. boosted its position in Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares during the period. Marquette Asset Management LLC bought a new stake in Bank of America during the third quarter worth approximately $30,000. Collier Financial acquired a new position in Bank of America during the third quarter valued at approximately $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Bank of America during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Broker upgrades and favorable earnings setup: Multiple firms (HSBC, Wells Fargo, Jefferies) have recently published constructive takes or buy ratings and Jefferies highlighted a 5–7% net interest income growth outlook over the next five years — supporting higher earnings and dividend capacity. HSBC upgrade Wells Fargo buy Jefferies NII outlook
• Positive Sentiment: Business wins and product launches: BAC is partnering on new co-brand credit cards (Royal ONE™ and Royal ONE Plus™) with Royal Caribbean — a revenue-generating consumer payments initiative that expands card fee and spend-related income. Royal Caribbean card partnership
• Positive Sentiment: Earnings momentum and capital-markets activity: Analysts note BAC’s strong earnings-surprise record and the bank’s expanding capital markets activity on the NYSE composite — both support confidence in future results and fee income. Zacks on earnings beat potential Capital markets expansion
• Neutral Sentiment: Analyst price-target moves are mixed: Morgan Stanley trimmed its price target (from $67 to $61) but kept an overweight rating — the move reduces upside expectations slightly while keeping institutional support intact. MarketScreener: MS PT change
• Neutral Sentiment: BofA’s analyst activity underscores franchise strength but is not direct BAC news: The bank’s research and trading coverage (Netflix, Micron, CoreWeave, etc.) highlight its institutional capabilities — a reputational positive but only indirectly supportive of BAC’s stock. BofA research on Netflix
• Negative Sentiment: Legal settlement: BAC disclosed a $72.5 million civil lawsuit settlement — a modest one-time charge relative to its capital but a visible near-term headline that can weigh on sentiment. MSN: settlement
• Negative Sentiment: Macro risk flagged by BofA research: The bank’s own strategists warn of “mild stagflation” and oil near $100, which could slow economic growth and pressure credit quality and consumer spending — a negative backdrop for banks if it materializes. TipRanks: stagflation warning
• Negative Sentiment: Insider/large-holder activity: Reports that Warren Buffett/Berkshire reduced BAC exposure (sold ~50% of a stake) have circulated — this can create headline noise and short-term selling pressure even if strategic ownership remains large. Fool: Buffett sells BAC

Bank of America Stock Up 1.1%

BAC opened at $49.29 on Thursday. The business has a 50 day moving average of $50.79 and a 200-day moving average of $52.23. The stock has a market capitalization of $352.20 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.19 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. 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 released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the prior year, the company earned $0.82 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. Bank of America’s dividend payout ratio is currently 29.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BAC shares. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Piper Sandler raised their target price on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Argus lifted their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Morgan Stanley cut their target price on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Royal Bank Of Canada upped their price target on shares of Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.54.

Insider Activity at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of the 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 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 is accessible through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 227,832 shares of company stock worth $11,094,960. Company insiders own 0.30% of the company’s stock.

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.