Bank of America Corporation $BAC Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 7.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,657,510 shares of the financial services provider’s stock after selling 124,354 shares during the period. Bank of America accounts for about 1.5% of Danica Pension Livsforsikringsaktieselskab’s holdings, making the stock its 12th biggest holding. Danica Pension Livsforsikringsaktieselskab’s holdings in Bank of America were worth $90,218,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new position in Bank of America during the second quarter worth about $25,000. Cherry Tree Wealth Management LLC raised its holdings in Bank of America by 167.6% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Principia Wealth Advisory LLC raised its holdings in Bank of America by 69.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Bank of America in the 2nd quarter valued at about $34,000. Finally, Balance Wealth Partners LLC purchased a new position in Bank of America in the 3rd quarter worth approximately $33,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Bank of America News

Here’s some of the latest news about BAC:

• Positive Sentiment: Bank of America reaffirmed its 16%–18% return-on-tangible-common-equity target for 2028–2030, citing expected support from net interest income, loan growth and expense discipline. The outlook reinforces the bank’s longer-term profitability ambitions. Article: BAC Reaffirms 16-18% ROTCE Target
• Positive Sentiment: The bank extended its co-branded credit-card partnership with Allegiant into the next decade, supporting continued card and customer-rewards business. Article: Allegiant and Bank of America Extend Co-Branded Credit Card Partnership
• Negative Sentiment: Several law firms reiterated that a securities class action is pending against BAC, with a December 15 lead-plaintiff deadline for investors who bought shares from August 1, 2025 through October 13, 2026. These are procedural notices, not a finding of wrongdoing, but may keep legal concerns in focus. Article: Rosen Securities Class Action Deadline Notice

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BAC shares. TD Cowen lowered their target price on Bank of America from $60.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Morgan Stanley dropped their price target on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Keefe, Bruyette & Woods cut their price target on Bank of America from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Royal Bank Of Canada reduced their price objective on Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.48.

Bank of America Trading Up 1.0%

Shares of Bank of America stock traded up $0.49 during trading hours on Friday, hitting $51.01. The company’s stock had a trading volume of 19,987,219 shares, compared to its average volume of 37,279,760. The stock has a market cap of $351.95 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The firm has a fifty day moving average of $54.07 and a 200-day moving average of $54.86.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The business had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. Research analysts forecast that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s dividend payout ratio (DPR) is 30.40%.

Bank of America Company Profile

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services. The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.