Polar Asset Management Partners Inc. Buys New Position in Bank of America Corporation $BAC

Key Points

• Polar Asset Management bought a new Q3 stake of 242,600 shares in Bank of America valued at about $12.52 million, joining heavy institutional activity that leaves roughly 70.7% of the stock owned by hedge funds and other institutions (notable moves from Norges Bank, UBS and Capital World Investors).
• Bank of America beat quarterly EPS ($0.98 vs. $0.96 consensus), announced a quarterly dividend of $0.28 (annualized $1.12, ~2.4% yield), and trades with a market cap near $336 billion and a P/E of about 12.2.

Polar Asset Management Partners Inc. purchased a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 242,600 shares of the financial services provider's stock, valued at approximately $12,516,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Norges Bank purchased a new position in Bank of America during the 2nd quarter worth $5,091,641,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. Capital World Investors raised its holdings 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 purchasing an additional 14,275,810 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bank of America by 124.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider's stock valued at $833,771,000 after purchasing an additional 9,782,208 shares in the last quarter. Finally, Danske Bank A S purchased a new position in Bank of America during the third quarter worth about $224,863,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Down 1.0%

Bank of America stock opened at $46.79 on Thursday. The firm has a 50 day moving average price of $51.95 and a 200-day moving average price of $52.40. 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 twelve month low of $33.06 and a twelve month high of $57.55. The company has a market capitalization of $335.78 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.15 and a beta of 1.28.

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 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 for the quarter, compared to analysts' expectations of $27.73 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. Bank of America's revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company 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. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.4%. Bank of America's payout ratio is presently 29.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BAC shares. Wells Fargo & Company upped their price objective on shares of Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. CICC Research assumed coverage on shares of Bank of America in a research report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Tuesday, January 27th. Erste Group Bank downgraded Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, Piper Sandler lifted their price target on Bank of America from $56.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, January 15th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.30.

Insider Buying and Selling at Bank of America

In other news, insider James P. Demare sold 83,832 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the transaction, the insider owned 307,240 shares of the company's stock, valued at $15,362,000. This represents a 21.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction 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 transaction, the insider owned 227,973 shares of the company's stock, valued at $11,357,614.86. The trade was a 17.99% 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 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

More Bank of America News

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

• Positive Sentiment: Bank of America raised its hyperscaler debt forecast — more large tech bond issuance (e.g., Amazon’s $54B deal) could lift investment‑banking and markets fees. BofA Lifts Hyperscaler Debt Forecast
• Positive Sentiment: BofA updated oil/energy views after a supply shock — the bank now expects higher Brent prices for 2026, which can boost corporate activity and trading revenue tied to energy clients. Oil shock lifts BofA outlook on US energy
• Positive Sentiment: Digital experience strength — Keynova’s Q1 mobile scorecard ties Bank of America for the No.1 mobile app, supporting its consumer franchise and deposit retention. Banks Strengthen Mobile Account Opening
• Positive Sentiment: Management outreach: BAC presented at the RBC conference emphasizing strategic priorities and a constructive outlook — useful for investors assessing guidance and capital deployment. BAC Presents at RBC Conference
• Neutral Sentiment: BofA research remains bullish on Nvidia and is recommending buying NVDA on dips — positive for BofA’s research reputation and potential trading flows but not a direct driver of BAC operating results. BofA Still Loves Nvidia
• Neutral Sentiment: BofA flagged opportunities amid private‑credit turmoil (Ares saw gains after the note) — the commentary highlights both risk monitoring and potential asset‑management opportunities. Ares Stock Pops
• Neutral Sentiment: BofA disclosed voting‑stake movement in Galapagos (fell below 5%) — a regulatory/holding update with limited direct impact on BAC’s core business. Galapagos Discloses BofA Stake Drop
• Negative Sentiment: Sector weakness: multiple outlets note bank stocks (including BAC) sliding as private‑credit worries act as a canary for broader credit stress — this is a direct driver of today’s share weakness. Bank Stocks Are the Canary
• Negative Sentiment: Epstein settlement focus raises governance and valuation scrutiny — any legal/settlement headlines increase investor caution around reputational and governance risks. Epstein Settlement Puts BofA Valuation And Governance In Focus
• Negative Sentiment: Executive movement: Elavon named a new CEO who was recruited from Bank of America — the departure of a payments/merchant‑services leader is a small negative for continuity in that business line. Elavon Picks BofA Vet Wally Mlynarski

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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