Bank of America Corporation $BAC Shares Bought by Prudential PLC

Prudential PLC grew its stake in Bank of America Corporation (NYSE:BAC) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 704,356 shares of the financial services provider’s stock after buying an additional 63,197 shares during the quarter. Prudential PLC’s holdings in Bank of America were worth $36,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BAC. Permanent Capital Management LP acquired a new stake in Bank of America in the third quarter valued at $649,000. Meridian Wealth Management LLC boosted its position in shares of Bank of America by 54.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. boosted its position in shares of Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after acquiring an additional 86,290 shares in the last quarter. World Equity Group Inc. increased its holdings in shares of Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after acquiring an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Bank of America during the 3rd quarter worth about $482,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of America

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 Trading Down 0.9%

NYSE:BAC opened at $46.72 on Friday. The company has a market capitalization of $335.32 billion, a PE ratio of 12.20, a P/E/G ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55. The stock’s 50 day moving average price is $52.52 and its 200 day moving average price is $52.45. 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 (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share 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%.The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.4%. Bank of America’s dividend payout ratio is 29.24%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BAC shares. Keefe, Bruyette & Woods decreased their target price on 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. Morgan Stanley dropped their price target on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock 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 stock a “hold” rating in a research report on Friday, February 6th. Wells Fargo & Company upped their target price on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Oppenheimer increased their target price on shares of Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.30.

Insider Buying and Selling

In other Bank of America news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on 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 transaction, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,832 shares of company stock worth $11,094,960 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Bank of America 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.