Cim Investment Management Inc. Reduces Stock Position in Bank of America Corporation $BAC

Cim Investment Management Inc. cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 50.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,801 shares of the financial services provider’s stock after selling 12,079 shares during the period. Cim Investment Management Inc.’s holdings in Bank of America were worth $609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Permanent Capital Management LP purchased a new position in Bank of America in the third quarter worth about $649,000. Meridian Wealth Management LLC increased its position in shares of Bank of America by 54.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after purchasing an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. increased its position in shares of Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. lifted its stake in shares of Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock worth $3,779,000 after purchasing an additional 13,119 shares during the period. Finally, AdvisorShares Investments LLC bought a new position in shares of Bank of America in the 3rd quarter worth approximately $482,000. 70.71% of the stock is owned by institutional investors.

Insider Activity

In related news, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the company’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 transaction, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 227,832 shares of company stock worth $11,094,960. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Daiwa Securities Group decreased their price target on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. TD Cowen cut their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Keefe, Bruyette & Woods reduced their price objective on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. raised their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Stock Up 0.4%

NYSE:BAC opened at $47.27 on Wednesday. The company’s 50-day simple moving average is $52.13 and its 200-day simple moving average is $52.43. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55. The stock has a market capitalization of $339.23 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.15 and a beta of 1.28.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the previous year, the business posted $0.82 EPS. Bank of America’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Bank of America News Summary

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

• Positive Sentiment: Management highlighted strategic priorities and a constructive outlook at the RBC conference, reinforcing investor confidence in execution and the bank’s long-term positioning. Bank of America Presents at RBC Conference
• Positive Sentiment: Market commentary is treating BAC as a deep-value, income-biased opportunity (low forward P/E and dividend yield noted), which can attract value-oriented buyers into the stock amid the broader selloff. 5 Oversold Large-Cap Stocks (includes BAC)
• Positive Sentiment: Product innovation: BofA’s rollout with Zelle to speed charitable DAF disbursements is a small but positive operational development that can deepen customer engagement and reduce friction. Bank Of America Uses Zelle To Speed Charitable Giving
• Neutral Sentiment: BofA research is raising energy-price forecasts after Strait of Hormuz disruptions (Brent to ~$77.50 in 2026), which lifts BofA’s energy coverage and could boost trading/IB flows but has an indirect effect on BAC’s stock. Oil shock lifts BofA outlook on US energy
• Neutral Sentiment: Regulatory/ownership disclosures show BAC adjusting stakes in several European names (Galapagos, Umicore, TCM Group), which are routine transparency filings with limited direct impact on BAC’s fundamentals. Galapagos: BAC stake drop disclosure Umicore transparency notifications
• Negative Sentiment: Legal overhang: Bank of America agreed to settle a lawsuit brought by women alleging the bank ignored suspicious Epstein-related transactions—this is reputationally negative and could have financial/settlement cost implications. Bank of America Agrees to Settle Lawsuit Over Jeffrey Epstein Ties
• Negative Sentiment: Insider selling: BAC’s International President Bernard Mensah disclosed the sale of roughly $4.4M of stock, a signal some investors view as a caution (timing and reasons vary). Insider sale disclosure

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.