Chevy Chase Trust Holdings LLC Acquires 12,529 Shares of Bank of America Corporation $BAC

Chevy Chase Trust Holdings LLC raised its holdings in Bank of America Corporation (NYSE:BAC) by 0.4% in the third quarter, Holdings Channel reports. The fund owned 3,550,243 shares of the financial services provider’s stock after acquiring an additional 12,529 shares during the period. Bank of America accounts for about 0.5% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 28th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Bank of America were worth $183,157,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Steph & Co. grew its position in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the period. Marquette Asset Management LLC acquired a new stake in Bank of America during the 3rd quarter worth approximately $30,000. Collier Financial acquired a new stake in Bank of America during the 3rd quarter worth approximately $30,000. Mountain Hill Investment Partners Corp. bought a new position in Bank of America in the third quarter valued at approximately $31,000. Finally, Wealth Preservation Advisors LLC lifted its stake in Bank of America by 48.7% in the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock valued at $32,000 after buying an additional 223 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Insider Activity at Bank of America

In related news, insider Thomas M. Scrivener sold 50,000 shares of the company’s stock in a transaction dated 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 represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, 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 Stock Performance

Shares of BAC opened at $46.72 on Friday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The firm has a fifty day simple moving average of $52.52 and a 200 day simple moving average of $52.47. The stock has a market capitalization of $335.32 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.14 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 issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $27.73 billion. During the same period in the previous year, the business earned $0.82 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Research analysts forecast that Bank of America Corporation will post 3.7 EPS 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. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Key Stories Impacting Bank of America

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BAC. The Goldman Sachs Group increased 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. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Truist Financial reduced their target price on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Wells Fargo & Company increased their target price on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Oppenheimer lifted their price target on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $60.30.

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.