Primecap Management Co. CA Lowers Position in Bank of America Corporation $BAC

Primecap Management Co. CA reduced its stake in Bank of America Corporation (NYSE:BAC) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,461,832 shares of the financial services provider’s stock after selling 224,700 shares during the period. Primecap Management Co. CA’s holdings in Bank of America were worth $127,006,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Bank of America during the second quarter valued at about $5,091,641,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Bank of America by 124.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after purchasing an additional 9,782,208 shares during the period. ABN AMRO Bank N.V. purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $202,439,000. OMERS ADMINISTRATION Corp increased its holdings in Bank of America by 881.5% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after purchasing an additional 3,781,417 shares during the last quarter. Finally, LSV Asset Management raised its position in Bank of America by 96.5% in the second quarter. LSV Asset Management now owns 6,882,719 shares of the financial services provider’s stock valued at $325,690,000 after purchasing an additional 3,379,335 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $52.28 on Friday. The business’s 50-day moving average is $54.02 and its two-hundred day moving average is $52.38. 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 $381.77 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.26 and a beta of 1.29. Bank of America Corporation has a 1 year low of $33.06 and a 1 year 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, topping analysts’ consensus estimates of $0.96 by $0.02. The business 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%.The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed 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. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s payout ratio is 29.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays raised their price target on Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. The Goldman Sachs Group increased their target price on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Piper Sandler raised their target price on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Wall Street Zen raised Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Truist Financial reduced their price target on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.30.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Hedge funds and analysts are bullish on BAC: it ranks among the top bank picks for hedge funds and showed a highly bullish sentiment as of Feb. 23; coverage includes 19 analysts with 15 Buys and 4 Holds — a near-consensus buy bias that can drive demand. Here is Why Bank of America Corporation (BAC) is Highly Favored By Hedge Funds
• Positive Sentiment: Market-focused coverage notes BAC is outpacing broader market gains today, reinforcing momentum trading and short-term inflows into the stock. Bank of America (BAC) Outpaces Stock Market Gains: What You Should Know
• Positive Sentiment: BofA announced nearly $40M invested in U.S. workforce development (2025 programs), a publicity/ESG win that can support customer relationships and community ties — constructive for reputation and long-term deposit/consumer franchise. BofA Invests Nearly $40 Million into American Workforce Skills in 2025
• Neutral Sentiment: Analyst-comparison pieces highlight BAC’s relative upside vs. Wells Fargo driven by earnings growth, investment banking momentum and valuation — useful context for longer-term investors but not an immediate catalyst. Bank of America or Wells Fargo: Which Big Bank Offers More Upside?
• Neutral Sentiment: Corporate housekeeping: BofA filed its latest Form 10‑K with the U.K. National Storage Mechanism — a regulatory filing of record with no new operating implications. Bank of America Files Latest Form 10-K with U.K. National Storage Mechanism

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.