Legal & General Group Plc Boosts Stock Position in Bank of America Corporation $BAC

25 May 2026, 08:10 by Teresa Graham · The Cerbat Gem

Legal & General Group Plc boosted its holdings in Bank of America Corporation (NYSE:BAC) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,411,913 shares of the financial services provider’s stock after buying an additional 1,487,809 shares during the period. Bank of America makes up 0.6% of Legal & General Group Plc’s portfolio, making the stock its 20th biggest holding. Legal & General Group Plc’s holdings in Bank of America were worth $2,497,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Brighton Jones LLC boosted its stake in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after buying an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares during the last quarter. Jump Financial LLC boosted its stake in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after buying an additional 18,227 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in Bank of America in the 2nd quarter worth about $1,396,000. Finally, Vivaldi Capital Management LP boosted its stake in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after buying an additional 355 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAC has been the topic of a number of research analyst reports. Evercore decreased their price target on Bank of America from $70.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. HSBC raised their price target on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods raised their price target on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. The Goldman Sachs Group raised their price target on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, UBS Group lifted their price objective on Bank of America from $62.00 to $63.00 in a research note on Wednesday, May 6th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Read Our Latest Stock Report on BAC

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 354,588 shares of company stock worth $17,814,296 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Bank of America News Roundup

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

Positive Sentiment: Bank of America hired veteran banker Richard Hardegree as Vice Chair of Mergers and Acquisitions, a move that could strengthen its dealmaking franchise and support future investment-banking revenue. Bank of America Corporation (BAC) Hires Richard Hardegree as Vice Chair of Mergers and Acquisitions
Positive Sentiment: Analysts highlighted BAC’s loan growth, rising investment-banking fees, and AI-driven branch strategy as long-term positives that may help the stock recover despite this year’s pullback. BAC Slips 6.5% So Far This Year: Should You Still Buy the Stock?
Neutral Sentiment: Bank of America strategist Michael Hartnett warned that mega-IPOs like SpaceX and OpenAI could create tech-market concentration risk, which is important for investors but does not directly change BAC’s fundamentals. BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
Neutral Sentiment: BofA also reinstated coverage of nuclear names with a Buy on Oklo and Neutral on NuScale, showing continued activity from the bank’s research team rather than a direct catalyst for BAC shares. BofA reinstates nuclear coverage with Buy on Oklo and Neutral on NuScale
Negative Sentiment: CFRA downgraded Bank of America to Hold, adding a modest headwind as investors weigh valuation and near-term upside after the stock’s weaker year-to-date performance. CFRA downgrades Bank of America (BAC) to a Hold

Bank of America Stock Up 0.0%

Shares of NYSE:BAC opened at $51.81 on Monday. 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 Corporation has a 1 year low of $42.35 and a 1 year high of $57.55. The stock has a market capitalization of $367.64 billion, a P/E ratio of 12.82, a PEG ratio of 0.88 and a beta of 1.21. The stock has a 50-day simple moving average of $50.65 and a 200-day simple moving average of $52.37.

Bank of America (NYSE:BAC – Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts forecast that Bank of America Corporation will post 4.46 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America’s payout ratio is presently 27.72%.

Bank of America Profile

(Free Report)

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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