SteelPeak Wealth LLC Has $6.19 Million Stake in Bank of America Corporation $BAC

04 Apr 2026, 10:44 by Mitch Edgeman · The Markets Daily

SteelPeak Wealth LLC raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 93.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 112,549 shares of the financial services provider’s stock after acquiring an additional 54,338 shares during the quarter. SteelPeak Wealth LLC’s holdings in Bank of America were worth $6,190,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bank of America by 640.5% during 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 worth $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Capital World Investors lifted its position in shares of Bank of America by 11.0% in the 3rd quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider’s stock worth $7,448,816,000 after acquiring an additional 14,275,810 shares during the period. Danske Bank A S bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $224,863,000. Capitolis Liquid Global Markets LLC grew its holdings in shares of Bank of America by 52.0% during the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock worth $644,681,000 after purchasing an additional 4,273,472 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $218,030,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other news, insider James P. Demare sold 83,832 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction dated 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 transaction, the insider directly owned 227,973 shares of the company’s stock, valued at $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,832 shares of company stock worth $11,094,960. Insiders own 0.30% 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: HSBC upgraded BAC to a “Buy,” a near‑term lift as a respected shop adding conviction to the stock amid broader bank‑sector momentum. HSBC Upgrades Bank of America
Positive Sentiment: Barclays reiterated its Buy on BAC, reinforcing analyst support and likely helping limit downside from other negative headlines. Barclays Sticks to Its Buy Rating
Positive Sentiment: Analysis highlights BAC’s robust capital‑return plan (record earnings, $40B buyback and steady dividend hikes) — a structural tailwind that supports the stock’s valuation and investor demand. Capital Return Strategy
Neutral Sentiment: Preliminary approval of a $72.5M settlement with Epstein accusers removes some legal uncertainty but represents an immediate cash cost — mixed for near‑term EPS but clears an overhang. Settlement Approval
Neutral Sentiment: Bank of America disclosed a 3.01% voting stake in Qiagen — a portfolio/strategic holding disclosure that is unlikely to move BAC’s core earnings but is notable for asset‑management transparency. Qiagen Voting Stake
Neutral Sentiment: Bank of America data on card‑spending trends (furniture/department stores down, gas station spending up) signals shifting consumer patterns that will shape fee and interchange trends — watch consumer credit and transaction volumes. Card Spending Trends
Negative Sentiment: Morgan Stanley trimmed its BAC price target to $61 — a downward revision that can pressure sentiment even if the rating remains constructive. Morgan Stanley Cuts Price Target
Negative Sentiment: A foiled bomb plot targeting a Bank of America Paris branch and subsequent remote‑work measures have drawn attention to the bank’s geopolitical and physical‑security exposure; while arrests and pre‑trial detentions reduce immediate threat, the headlines raise operational‑risk sensitivity. Foiled Paris Bomb Plot and Remote‑Work Shift

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial cut their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Keefe, Bruyette & Woods lowered their price target on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Evercore set a $59.00 price objective on shares of Bank of America in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Twenty-three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.54.

Get Our Latest Stock Report on BAC

Bank of America Stock Performance

NYSE:BAC opened at $49.37 on Friday. The stock has a market capitalization of $352.75 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The firm has a 50 day moving average of $50.68 and a 200-day moving average of $52.20.

Bank of America (NYSE:BAC – Get Free Report) last released 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 return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same period in the prior year, the company earned $0.82 EPS. Bank of America’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, sell-side 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 was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio is presently 29.24%.

About Bank of America

(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.