NorthRock Partners LLC Increases Position in Bank of America Corporation $BAC

Key Points

• NorthRock Partners LLC increased its stake in Bank of America by 18.6% in Q3 to 132,855 shares (worth about $6.85M), as part of broader institutional activity that leaves 70.71% of the stock owned by institutions.
• Company insiders have been net sellers recently — a total of 227,832 shares sold in the last 90 days worth roughly $11.09M (notable sales by Thomas M. Scrivener and Bernard A. Mensah), leaving insiders with about 0.30% ownership.
• Fundamentals and sentiment are mixed: BAC posted a modest quarterly EPS beat and pays a $0.28 quarterly dividend (annual yield ~2.4%), analysts have a consensus "Moderate Buy" with a $60.30 target, but sector headwinds and high‑profile selling (including Berkshire-related exits) are pressuring near‑term sentiment.

NorthRock Partners LLC increased its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 18.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,855 shares of the financial services provider's stock after purchasing an additional 20,852 shares during the quarter. NorthRock Partners LLC's holdings in Bank of America were worth $6,854,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors increased its position in shares of Bank of America by 11.0% in the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock valued at $7,448,816,000 after buying an additional 14,275,810 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of America during the 2nd quarter valued at approximately $5,091,641,000. Fisher Asset Management LLC grew its stake in Bank of America by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider's stock valued at $2,717,657,000 after acquiring an additional 1,272,315 shares during the period. Legal & General Group Plc increased its holdings in Bank of America by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider's stock worth $2,266,045,000 after acquiring an additional 1,458,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Bank of America by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider's stock worth $1,581,350,000 after acquiring an additional 640,462 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

More Bank of America News

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

Bank of America Price Performance

Bank of America stock opened at $46.72 on Friday. The company has a fifty day simple moving average of $52.52 and a 200-day simple moving average of $52.45. The firm has a market capitalization of $335.32 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.15 and a beta of 1.28. 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 Corporation has a 52-week low of $33.06 and a 52-week high of $57.55.

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 for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BAC shares. HSBC increased their price objective on shares of Bank of America from $55.00 to $57.00 and gave the company a "hold" rating in a report on Friday, February 6th. Keefe, Bruyette & Woods cut their target price on shares of Bank of America from $64.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, January 15th. Erste Group Bank downgraded shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. CICC Research began coverage on shares of Bank of America in a research note on Wednesday, January 14th. They issued an "outperform" rating and a $62.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on Bank of America from $68.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, January 15th. Twenty-one investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.30.

Insider Transactions at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was 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 directly owned 227,973 shares in the company, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 in the last ninety days. Insiders own 0.30% of the company's stock.

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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