Arrowstreet Capital Limited Partnership Sells 5,044,178 Shares of Bank of America Corporation $BAC

Arrowstreet Capital Limited Partnership reduced its stake in Bank of America Corporation (NYSE:BAC) by 28.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,575,659 shares of the financial services provider’s stock after selling 5,044,178 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.17% of Bank of America worth $648,778,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BAC. Acorns Advisers LLC bought a new position in Bank of America in the 3rd quarter worth approximately $214,000. Keystone Financial Services boosted its position in shares of Bank of America by 6.4% in the third quarter. Keystone Financial Services now owns 12,588 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 755 shares during the period. Seven Mile Advisory grew its stake in shares of Bank of America by 40.5% in the third quarter. Seven Mile Advisory now owns 19,617 shares of the financial services provider’s stock worth $1,012,000 after acquiring an additional 5,658 shares during the last quarter. Employees Retirement System of Texas increased its position in Bank of America by 11.1% during the third quarter. Employees Retirement System of Texas now owns 2,562,521 shares of the financial services provider’s stock worth $132,200,000 after acquiring an additional 256,188 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its position in Bank of America by 613.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 42,650 shares of the financial services provider’s stock worth $2,200,000 after acquiring an additional 36,671 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BAC shares. Wells Fargo & Company lifted their target price on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. TD Cowen cut their target price on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Argus increased their price objective 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. Truist Financial lowered their price objective on 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. Finally, Morgan Stanley reduced their price target on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Insider Activity at Bank of America

In other Bank of America news, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

Bank of America Trading Down 2.9%

NYSE:BAC opened at $47.13 on Friday. 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 Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The business has a 50 day moving average price of $52.70 and a two-hundred day moving average price of $52.47. The company has a market cap of $338.24 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.28.

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, topping 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 for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is 29.24%.

Bank of America News Roundup

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

• Positive Sentiment: Management/strategy: Bank of America projects solid Q1 revenue growth (net interest income, investment banking and global markets), which supports medium‑term earnings resilience. BofA projects solid first-quarter growth across key businesses
• Positive Sentiment: Product/fee growth: Zelle and Bank of America launched instant donor-advised-fund disbursements, a payments innovation that can improve client service and fee/flow dynamics in wealth and treasury products. Zelle and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Positive Sentiment: Analyst backdrop: Wall Street coverage remains constructive overall (multiple Buy/Outperform ratings and a median 6–12 month target near $62), which supports longer‑term upside vs. current levels. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares
• Neutral Sentiment: Capital actions: The board declared regular cash dividends on several series of preferred stock (payment dates in April–May); this affects preferred holders and liquidity planning but has limited direct impact on common shareholders. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: Global research activity: BofA research continues to move ratings and targets across the market (e.g., Qualcomm reinstated as Underperform; Bumble target trimmed) — shows healthy brokerage flow but is not company specific. Qualcomm Stock Warning: Why Bank of America Is Betting That QCOM Will Underperform
• Neutral Sentiment: International trading activity: BofA Securities participated in a block trade in Kaynes Technologies (India); more a regional/flow trade than a corporate signal for BAC common shares. BofA Securities enters Kaynes Technologies via Rs 42 crore block deal; stock down 48% in six months
• Negative Sentiment: Macro/sector pressure: Renewed rate volatility after recent CPI and heavy Treasury issuance triggered a sector‑wide bank pullback; BAC is sensitive to rate moves given NII and duration exposures. Also, recent regulatory/stress‑capital buffer discussion and heavy insider selling amplify downside risk in risk‑off flows. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares
• Negative Sentiment: Market reaction: Short‑term price weakness was highlighted in market writeups noting BAC declined more than the broader market today, which can trigger technical selling and higher intraday volatility. Bank of America (BAC) Declines More Than Market: Some Information for Investors

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.