Covea Finance Sells 37,100 Shares of Bank of America Corporation $BAC

Covea Finance cut its stake in Bank of America Corporation (NYSE:BAC) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 725,300 shares of the financial services provider’s stock after selling 37,100 shares during the period. Bank of America makes up 1.3% of Covea Finance’s holdings, making the stock its 22nd largest position. Covea Finance’s holdings in Bank of America were worth $39,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Bank of America during the second quarter worth about $5,091,641,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Capital World Investors raised its position in Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock valued at $7,448,816,000 after buying an additional 14,275,810 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after acquiring an additional 9,782,208 shares in the last quarter. Finally, Danske Bank A S bought a new stake in Bank of America in the 3rd quarter valued at approximately $224,863,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Activity

In other Bank of America news, insider James P. Demare sold 83,832 shares of the business’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 transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is owned by company insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Fed capital-reset plan could free up lending and boost banks’ growth and profitability — a tailwind for BAC if lower capital buffers translate into more loan activity and higher fee income. Fed’s Capital Reset: Lower Buffers, Increased Lending to Benefit Banks
• Positive Sentiment: Treasury market moves are pricing a higher chance of Fed hikes rather than cuts — higher rates generally support net interest margins for large banks like BAC, which can boost near‑term profitability. Treasuries Extend Slump as Likelihood of Fed Rate Cuts Fades
• Positive Sentiment: BofA’s digitization and AI initiatives are cited as unlocking revenue growth via 30B+ digital interactions, aiding cross‑selling and fee income beyond cost savings — supports the bank’s medium‑term revenue trajectory. Bank of America’s Digitization Initiatives Unlocking Revenue Growth
• Neutral Sentiment: Bank of America announced its 2026‑27 quarterly reporting schedule — routine corporate timing (low immediate market impact). Bank of America Announces Fourth Quarter 2026 and Quarterly 2027 Financial Reporting Dates
• Neutral Sentiment: Marketing partnership with Visa (FIFA World Cup sweepstakes) increases consumer engagement but is unlikely to move fundamentals in the near term. BofA Teams with Visa to Offer Cardholders a Chance to Win a Trip to the FIFA World Cup 2026™
• Neutral Sentiment: BofA analysts remain active and bullish on technology names (e.g., Nvidia, TSM), which signals institutional research strength but is not a direct driver of BAC’s stock. Bank of America Still Loves Nvidia Stock After GTC 2026. Should You?
• Negative Sentiment: BofA flagged a higher risk of Fed hikes amid oil‑driven inflation and geopolitical risk — such warnings can increase investor caution and weigh on risk assets and lending outlook if growth fears rise. Bank of America Warns of Fed Rate Hike Risk as Crypto Market Faces Pressure
• Negative Sentiment: Analysis noting the Fed kept rates steady while flagging rising inflation suggests a tougher near‑term outlook for bank earnings and credit conditions, which could cap BAC’s near‑term upside. Fed Keeps Rates Steady Amid Rising Inflation: What it Means for Banks

Bank of America Trading Up 0.3%

NYSE BAC opened at $47.15 on Friday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $51.59 and a 200-day moving average of $52.33. The company has a market cap of $338.37 billion, a PE ratio of 12.31, a PEG ratio of 1.15 and a beta of 1.28.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued 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 is presently 29.24%.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group boosted their price objective on shares of Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Daiwa Securities Group reduced their target price on shares of Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Morgan Stanley cut their price target on shares of 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 research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company 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.