Korea Investment CORP Sells 1,052,006 Shares of Bank of America Corporation $BAC

Key Points

• Korea Investment CORP sold 1,052,006 shares of Bank of America in Q3, cutting its stake by 19% to 4,479,524 shares (about 0.06% of BAC), with BAC representing roughly 0.5% of the fund and its 29th-largest holding.
• Insider sales were reported recently—James P. Demare sold 83,832 shares and Thomas M. Scrivener sold 50,000 shares—reducing insider ownership to about 0.30% of the company.
• Wall Street has a consensus rating of “Moderate Buy” (22 Buys, 4 Holds) with a $60.30 price target, and BAC pays a $0.28 quarterly dividend (≈2.3% yield).

Korea Investment CORP reduced its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,479,524 shares of the financial services provider's stock after selling 1,052,006 shares during the period. Bank of America makes up approximately 0.5% of Korea Investment CORP's investment portfolio, making the stock its 29th biggest position. Korea Investment CORP owned about 0.06% of Bank of America worth $231,099,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. increased its position in shares of Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after purchasing an additional 379 shares during the period. Marquette Asset Management LLC bought a new stake in Bank of America during the third quarter worth about $30,000. Collier Financial bought a new stake in Bank of America during the third quarter worth about $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in Bank of America during the third quarter worth about $31,000. Finally, Wealth Preservation Advisors LLC increased its holdings in Bank of America by 48.7% in the 2nd 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 during the period. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Bank of America from $59.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. Evercore set a $59.00 price objective on shares of Bank of America in a research note on Thursday, January 15th. HSBC boosted their price objective on shares of Bank of America from $55.00 to $57.00 and gave the company a "hold" rating in a research report on Friday, February 6th. Royal Bank Of Canada lifted their price target on Bank of America from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. Finally, Oppenheimer upped their price objective on Bank of America from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Thursday, December 18th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.30.

Bank of America Stock Performance

NYSE BAC opened at $48.68 on Friday. The firm's fifty day moving average price is $53.27 and its two-hundred day moving average price is $52.52. The stock has a market cap of $349.36 billion, a PE ratio of 12.71, a PEG ratio of 1.19 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America's revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. On average, equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

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 paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. Bank of America's dividend payout ratio is currently 29.24%.

Insider Buying and Selling

In related news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred 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 sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 227,973 shares of the company's stock, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

More Bank of America News

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

• Positive Sentiment: Analyst buy thesis: BAC is described as “slipping back into the buy zone” — trading at ~12.5x trailing earnings (below its 10-year average) with a multiyear tailwind from net interest margin expansion as low‑yielding assets reprice, supporting operating leverage and returns. Bank Of America: Slipping Back Into The 'Buy' Zone
• Positive Sentiment: Dividend & income angle: Coverage argues BAC remains attractive for dividend-seeking portfolios — an important point for income investors given the bank’s payout and current yield profile. Bank of America (BAC) Could Be a Great Choice
• Positive Sentiment: Wealth-management product expansion: Bank of America Private Bank launched an Art Consulting service — a niche revenue/relationship initiative that modestly diversifies fee income and deepens HNW client ties. Bank Of America Art Consulting Adds Dimension To Wealth And Valuation Story
• Neutral Sentiment: Underwriting / investment-banking activity: BofA Securities is lead in SM Energy’s $1bn senior notes offering — a reminder of recurring fee revenue from capital markets, but not large enough alone to swing BAC’s stock. Vinson & Elkins Advises Initial Purchasers on SM Energy’s $1 Billion Senior Notes Offering
• Neutral Sentiment: Shareholder / holdings disclosure: Galapagos filed transparency notices showing Bank of America entities crossed a reporting threshold — operational detail about holdings rather than a direct signal about BAC’s performance. Galapagos Receives Transparency Notifications from Bank of America
• Negative Sentiment: Geopolitical / market risk: BofA strategists warn that a prolonged U.S.–Iran war could push investors out of Europe and Japan into oil and the dollar — a macro shock that raises volatility and can hurt banks via risk‑off flows, trading losses, or credit stress. BofA’s Hartnett Sees European, Japanese Stocks at Risk From War
• Negative Sentiment: Market sentiment cooling: Coverage noting that recent BAC share momentum has cooled and valuation dynamics are being reassessed — this sort of reassessment can trigger short‑term selling even if fundamentals remain intact. Assessing Bank Of America (BAC) Valuation As Recent Share Momentum Cools
• Negative Sentiment: Sector rotation commentary: Bank of America research and market pieces (and consequent media coverage) around selling oil stocks and shifting sector preferences signal rotation and positioning changes that can temporarily depress financial shares amid heightened commodity and FX volatility. Bank of America (BAC) Is Telling Investors to Sell Oil Stocks as Crude Prices Soar. Here’s Why

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.

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