DNB Asset Management AS Boosts Position in Bank of America Corporation $BAC

DNB Asset Management AS increased its position in shares of Bank of America Corporation (NYSE:BAC) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,640,303 shares of the financial services provider’s stock after acquiring an additional 191,866 shares during the quarter. Bank of America makes up about 0.9% of DNB Asset Management AS’s portfolio, making the stock its 17th biggest holding. DNB Asset Management AS owned approximately 0.06% of Bank of America worth $239,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted 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 purchasing an additional 880 shares during the last quarter. Steph & Co. raised its position in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after buying an additional 379 shares during the period. Marquette Asset Management LLC acquired a new position in Bank of America in the third quarter valued at approximately $30,000. Collier Financial purchased a new position in Bank of America in the third quarter worth approximately $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Bank of America during the third quarter worth $31,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Hedge funds and analysts are bullish on BAC: it ranks among the top bank picks for hedge funds and showed a highly bullish sentiment as of Feb. 23; coverage includes 19 analysts with 15 Buys and 4 Holds — a near-consensus buy bias that can drive demand. Here is Why Bank of America Corporation (BAC) is Highly Favored By Hedge Funds
• Positive Sentiment: Market-focused coverage notes BAC is outpacing broader market gains today, reinforcing momentum trading and short-term inflows into the stock. Bank of America (BAC) Outpaces Stock Market Gains: What You Should Know
• Positive Sentiment: BofA announced nearly $40M invested in U.S. workforce development (2025 programs), a publicity/ESG win that can support customer relationships and community ties — constructive for reputation and long-term deposit/consumer franchise. BofA Invests Nearly $40 Million into American Workforce Skills in 2025
• Neutral Sentiment: Analyst-comparison pieces highlight BAC’s relative upside vs. Wells Fargo driven by earnings growth, investment banking momentum and valuation — useful context for longer-term investors but not an immediate catalyst. Bank of America or Wells Fargo: Which Big Bank Offers More Upside?
• Neutral Sentiment: Corporate housekeeping: BofA filed its latest Form 10‑K with the U.K. National Storage Mechanism — a regulatory filing of record with no new operating implications. Bank of America Files Latest Form 10-K with U.K. National Storage Mechanism

Bank of America Trading Up 1.1%

Shares of BAC stock opened at $52.28 on Friday. The stock has a market capitalization of $381.77 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day moving average price of $54.02 and a 200 day moving average price of $52.38.

Bank of America (NYSE:BAC) last issued its quarterly 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 company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter last year, the company posted $0.82 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BAC. CICC Research started coverage on Bank of America in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price target on the stock. HSBC upped their target price on shares of Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Truist Financial dropped their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Keefe, Bruyette & Woods decreased their price objective on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, Piper Sandler lifted their target price on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

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.