Danske Bank A S Buys Shares of 4,358,652 Bank of America Corporation $BAC

Key Points

• Danske Bank A/S purchased 4,358,652 shares of Bank of America in Q3, worth approximately $224.9 million, making BAC 0.6% of Danske's portfolio and representing about a 0.06% ownership stake in BofA.
• Bank of America carries an average analyst rating of "Moderate Buy" with an average price target of $60.30 (21 Buy ratings and 5 Hold ratings), with recent targets ranging roughly $55–$66.
• Insiders have been net sellers recently—227,832 shares sold (~$11.09 million) in the last 90 days, including James P. Demare (83,832 shares, ≈$4.19M) and Thomas M. Scrivener (50,000 shares, ≈$2.49M).

Danske Bank A S purchased a new stake in Bank of America Corporation (NYSE:BAC) during the third quarter, according to its most recent filing with the SEC. The firm purchased 4,358,652 shares of the financial services provider's stock, valued at approximately $224,863,000. Bank of America accounts for 0.6% of Danske Bank A S's portfolio, making the stock its 26th biggest holding. Danske Bank A S owned about 0.06% of Bank of America at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter valued at about $27,000. Steph & Co. grew its stake in Bank of America by 224.3% in the third 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 last quarter. Marquette Asset Management LLC bought a new position in Bank of America in the third quarter worth about $30,000. Collier Financial bought a new position in Bank of America in the third quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bank of America during the third quarter valued at about $31,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAC. Evercore set a $59.00 price objective on shares of Bank of America in a research report on Thursday, January 15th. TD Cowen decreased their target price 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. Argus raised their target price on shares of Bank of America from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. Finally, HSBC upped their price target on Bank of America from $55.00 to $57.00 and gave the stock a "hold" rating in a research report on Friday, February 6th. Twenty-one equities 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.com, Bank of America currently has an average rating of "Moderate Buy" and an average target price of $60.30.

Insider Buying and Selling

In related news, insider James P. Demare sold 83,832 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 227,832 shares of company stock valued at $11,094,960 over the last 90 days. Insiders own 0.30% of the company's stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Management highlighted strategic priorities and a constructive outlook at the RBC conference, reinforcing investor confidence in execution and the bank’s long-term positioning. Bank of America Presents at RBC Conference
• Positive Sentiment: Market commentary is treating BAC as a deep-value, income-biased opportunity (low forward P/E and dividend yield noted), which can attract value-oriented buyers into the stock amid the broader selloff. 5 Oversold Large-Cap Stocks (includes BAC)
• Positive Sentiment: Product innovation: BofA’s rollout with Zelle to speed charitable DAF disbursements is a small but positive operational development that can deepen customer engagement and reduce friction. Bank Of America Uses Zelle To Speed Charitable Giving
• Neutral Sentiment: BofA research is raising energy-price forecasts after Strait of Hormuz disruptions (Brent to ~$77.50 in 2026), which lifts BofA’s energy coverage and could boost trading/IB flows but has an indirect effect on BAC’s stock. Oil shock lifts BofA outlook on US energy
• Neutral Sentiment: Regulatory/ownership disclosures show BAC adjusting stakes in several European names (Galapagos, Umicore, TCM Group), which are routine transparency filings with limited direct impact on BAC’s fundamentals. Galapagos: BAC stake drop disclosure Umicore transparency notifications
• Negative Sentiment: Legal overhang: Bank of America agreed to settle a lawsuit brought by women alleging the bank ignored suspicious Epstein-related transactions—this is reputationally negative and could have financial/settlement cost implications. Bank of America Agrees to Settle Lawsuit Over Jeffrey Epstein Ties
• Negative Sentiment: Insider selling: BAC’s International President Bernard Mensah disclosed the sale of roughly $4.4M of stock, a signal some investors view as a caution (timing and reasons vary). Insider sale disclosure

Bank of America Trading Up 0.4%

Bank of America stock opened at $47.27 on Wednesday. The stock has a 50-day moving average price of $52.13 and a 200 day moving average price of $52.43. The company has a market capitalization of $339.23 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period last year, the firm posted $0.82 EPS. Bank of America's revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be issued a dividend of $0.28 per share. 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 (DPR) is 29.24%.

Bank of America Company 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.