Bank of America Corporation $BAC Shares Purchased by NorthRock Partners LLC

NorthRock Partners LLC boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 18.6% during the third quarter, Holdings Channel.com reports. The firm owned 132,855 shares of the financial services provider’s stock after buying an additional 20,852 shares during the quarter. NorthRock Partners LLC’s holdings in Bank of America were worth $6,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Permanent Capital Management LP purchased a new position in Bank of America in the third quarter worth approximately $649,000. Meridian Wealth Management LLC raised its position in Bank of America by 54.6% in the third 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 period. Lockheed Martin Investment Management Co. lifted its stake in shares of Bank of America by 15.9% in 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 valued at $3,779,000 after purchasing an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in shares of Bank of America during the 3rd quarter worth $482,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. CICC Research initiated coverage on shares of Bank of America in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 target price on the stock. Morgan Stanley lowered their target price on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. TD Cowen dropped their price target 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. Finally, Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. 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 data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Bank of America News Summary

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

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of “Moderate Buy”
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

Insider Activity at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 227,832 shares of company stock worth $11,094,960. Corporate insiders own 0.30% of the company’s stock.

Bank of America Price Performance

BAC opened at $46.72 on Friday. The stock’s 50-day moving average price is $52.52 and its 200 day moving average price is $52.45. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The firm has a market cap of $335.32 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. As a group, sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be issued a $0.28 dividend. The ex-dividend date 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 payout ratio is 29.24%.

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.