Intact Investment Management Inc. Has $12.69 Million Stake in Bank of America Corporation $BAC

Intact Investment Management Inc. grew its stake in shares of Bank of America Corporation (NYSE:BAC) by 33.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 245,900 shares of the financial services provider’s stock after buying an additional 61,800 shares during the period. Intact Investment Management Inc.’s holdings in Bank of America were worth $12,686,000 as of its most recent filing with the SEC.

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

Key Bank of America News

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Bank of America Price Performance

NYSE:BAC opened at $51.75 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company’s 50-day moving average price is $54.06 and its two-hundred day moving average price is $51.39.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. Bank of America’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BAC shares. UBS Group boosted their price target on shares of Bank of America from $55.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Robert W. Baird lifted their target price on shares of Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Daiwa Capital Markets raised their price target on shares of Bank of America from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price objective 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. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.74.

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.