Suvretta Capital Management LLC Has $59.86 Million Position in Bank of America Corporation $BAC

Suvretta Capital Management LLC increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 25.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,330 shares of the financial services provider’s stock after purchasing an additional 233,140 shares during the period. Bank of America makes up 1.5% of Suvretta Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Suvretta Capital Management LLC’s holdings in Bank of America were worth $59,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 6,174 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Bank of America during the second quarter worth $442,000. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in Bank of America in the 2nd quarter valued at $202,000. Finally, Clearstead Trust LLC lifted its position in Bank of America by 27.7% in the 2nd quarter. Clearstead Trust LLC now owns 10,628 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 2,304 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 completion of the transaction, the insider directly owned 227,973 shares of the company’s stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider owned 170,184 shares in the company, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Oppenheimer upped their price objective on Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Royal Bank Of Canada lifted their target price on Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Truist Financial cut their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Finally, Argus upped their price target on Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Twenty-one research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Key Bank of America News

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

Bank of America Price Performance

Shares of NYSE BAC opened at $46.72 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 business has a 50-day moving average of $52.52 and a 200-day moving average of $52.45. The stock has a market capitalization of $335.32 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, sell-side 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 disclosed 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 annualized dividend 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%.

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.