Intact Investment Management Inc. Has $14.60 Million Stock Holdings in Bank of America Corporation $BAC

Intact Investment Management Inc. boosted its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 265,400 shares of the financial services provider's stock after buying an additional 19,500 shares during the quarter. Intact Investment Management Inc.'s holdings in Bank of America were worth $14,597,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. DecisionMap Wealth Management LLC lifted its holdings in Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock worth $223,000 after buying an additional 182 shares in the last quarter. Holistic Financial Partners lifted its holdings in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after buying an additional 183 shares in the last quarter. Riverview Capital Advisers LLC lifted its holdings in Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after buying an additional 188 shares in the last quarter. Shepherd Financial Partners LLC lifted its holdings in Bank of America by 0.3% during the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock worth $3,110,000 after buying an additional 189 shares in the last quarter. Finally, William B. Walkup & Associates Inc. lifted its holdings in Bank of America by 1.4% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock worth $723,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $53.28 on Monday. The firm has a fifty day moving average of $50.34 and a two-hundred day moving average of $52.47. The stock has a market capitalization of $380.75 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.90 and a beta of 1.21. Bank of America Corporation has a 52 week low of $40.56 and a 52 week high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, equities research analysts predict that Bank of America Corporation will post 4.46 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America's dividend payout ratio is currently 27.72%.

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 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 sale, the insider owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the sale, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 227,832 shares of company stock worth $11,094,960 in the last quarter. Corporate insiders own 0.27% of the company's stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Q1 results beat expectations — BAC reported stronger‑than‑expected EPS and revenue for the quarter (EPS $1.11 vs. $1.00 estimate; revenue $30.27B vs. $29.72B), showing solid core performance and margin recovery. This supports earnings momentum and the valuation multiple.
• Positive Sentiment: Multi‑year Alaska Air co‑brand extension and heavy buybacks — BAC extended its largest co‑brand credit card partnership with Alaska Air, supporting future card revenue and deposits; the bank has also been executing large buybacks (~$18.7B in the last 12 months), which reduces share count and supports EPS. Read More.
• Positive Sentiment: High‑profile endorsement — Jim Cramer publicly called Bank of America "way too cheap" and said it should be bought on Mad Money, which can attract retail interest and buying flows in the short term. Read More.
• Neutral Sentiment: BofA Securities research activity (NVIDIA and others) — BofA’s analysts maintained a Buy on NVIDIA (and are active on names like Pearson, Alignment Healthcare, Block). This highlights the firm’s strong research franchise and potential trading/research revenue, but these calls are indirect for BAC’s stock performance. Read More. • Read More. • Read More. • Read More.
• Neutral Sentiment: BofA research calls on commodities and macro (silver $309 scenario) — the bank’s high‑end silver forecast is a thematic research call that could influence commodity traders but has limited direct bearing on BAC’s fundamentals. Read More.
• Neutral Sentiment: Industry coverage and media pieces (branch strategy) — general coverage noting banks opening branches and shifting strategies may affect BAC over time, but these stories are background rather than immediate catalysts. Read More.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Daiwa Securities Group upped their price objective on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Jefferies Financial Group upped their price objective on Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Autonomous Res reduced their price objective on Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Wells Fargo & Company upped their price objective 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, JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.02.

About Bank of America

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.

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