Bank of America Corporation $BAC Shares Acquired by Eastern Bank

Eastern Bank grew its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,380,156 shares of the financial services provider’s stock after purchasing an additional 16,997 shares during the period. Bank of America comprises about 1.3% of Eastern Bank’s holdings, making the stock its 21st biggest holding. Eastern Bank’s holdings in Bank of America were worth $75,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Bank of America by 640.5% during the 3rd 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 during the period. Capital World Investors lifted its stake in Bank of America by 11.0% during the third 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bank of America by 124.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after buying an additional 9,782,208 shares during the period. Danske Bank A S acquired a new position in shares of Bank of America in the third quarter worth about $224,863,000. Finally, Capitolis Liquid Global Markets LLC increased its position in shares of Bank of America by 52.0% in the third quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock worth $644,681,000 after acquiring an additional 4,273,472 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BAC. Jefferies Financial Group initiated coverage on shares of Bank of America in a report on Thursday. They set a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group lowered their price objective on shares of Bank of America from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. JPMorgan Chase & Co. boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Wells Fargo & Company increased their target price on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Evercore set a $59.00 target price on Bank of America in a research report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $59.67.

Bank of America News Roundup

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

• Positive Sentiment: Jefferies initiated coverage with a “Buy” and $60 price target, adding fresh bullish analyst support and suggesting ~27% upside from current levels. Read
• Positive Sentiment: Bank of America formed a Private Capital M&A group to advise private equity exits — a strategic move that can expand fee pools for the investment bank and help offset pressure in other areas. Article
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to save advisors time and improve client workflows — a productivity/retention leaver for wealth management revenue. Press Release
• Neutral Sentiment: Corporate/social partnership: Watson Links and Bank of America expanded youth golf access — positive PR but limited near‑term revenue impact. PR
• Neutral Sentiment: Bank of America Securities continues active research coverage and reiterations on other companies (AstraZeneca, Arrowhead, Wave, etc.), highlighting the firm’s research franchise but with limited direct impact on BAC stock. Research Note
• Negative Sentiment: Oppenheimer cut its price target from $63 to $58 (still “Outperform”) — the lower target reduces upside expectations and can pressure the stock. Article
• Negative Sentiment: Goldman Sachs lowered its price target to $57 earlier this week — another analyst trim hitting sentiment after recent highs. Article
• Negative Sentiment: Coverage noted Bank of America “balances” costs from an Epstein settlement while advancing AI advisor tools — ongoing legal/settlement headlines can create headline risk and investor caution. Article

Insider Transactions at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Demare sold 83,832 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over 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 insiders.

Bank of America Price Performance

NYSE BAC opened at $47.01 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $335.93 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.14 and a beta of 1.28. The company has a 50 day simple moving average of $51.03 and a 200-day simple moving average of $52.27. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating 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 firm 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 firm posted $0.82 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Equities research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, March 6th. Bank of America’s payout ratio is currently 29.24%.

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.