Swiss Life Asset Management Ltd Purchases 75,383 Shares of Bank of America Corporation $BAC

Swiss Life Asset Management Ltd boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 799,235 shares of the financial services provider’s stock after buying an additional 75,383 shares during the period. Swiss Life Asset Management Ltd’s holdings in Bank of America were worth $41,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAC. Capital World Investors raised its holdings 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 valued at $7,448,816,000 after acquiring an additional 14,275,810 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of America during the second quarter worth about $5,091,641,000. Fisher Asset Management LLC grew its holdings in shares of Bank of America by 2.5% during the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock worth $2,717,657,000 after purchasing an additional 1,272,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Bank of America by 3.4% in the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider’s stock worth $2,266,045,000 after purchasing an additional 1,458,551 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade 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 can be accessed through this link. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on 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 sale, the insider directly owned 307,240 shares of the company’s stock, valued at $15,362,000. This represents a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,832 shares of company stock valued at $11,094,960 over the last ninety days. 0.30% of the stock is owned by insiders.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America ranks as a top mobile app (tie with U.S. Bank) in a Q1 mobile-banking scorecard — a positive for customer engagement and deposit retention trends. Banks Strengthen Mobile Account Opening and Debit Card Controls
• Positive Sentiment: Management presented at the RBC conference highlighting strategic priorities and steady financial performance, which supports the view that BAC’s operations remain resilient. Bank of America Corporation (BAC) Presents at RBC Conference, Here’s What You Need to Know
• Neutral Sentiment: Elavon named a former Bank of America merchant-services executive as its CEO — a talent win/loss dynamic that’s operationally neutral for BAC but notable for industry mobility. Elavon Picks BofA Vet Wally Mlynarski as CEO
• Neutral Sentiment: Bank of America research raised its hyperscaler debt forecast after large deals (e.g., Amazon issuance), reflecting higher corporate issuance expectations that could boost trading and origination revenues. BofA Lifts Hyperscaler Debt Forecast 25% to $175 Billion
• Negative Sentiment: Broader coverage notes bank stocks (including BAC) sliding amid growing worries about private-credit stress — investors are marking down valuations on fears of losses or a “fire-sale” in alternatives, pressuring regional and large-bank shares alike. Bank Stocks Are the Canary in the Recession Coal Mine. It’s Not Time to Worry—Yet
• Negative Sentiment: An Epstein-related settlement has surfaced in headlines that put Bank of America’s valuation and governance under scrutiny, adding firm-specific downside sentiment for investors worried about legal/governance risks. Epstein Settlement Puts Bank Of America Valuation And Governance In Focus

Bank of America Price Performance

Shares of BAC opened at $46.79 on Thursday. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The firm has a fifty day simple moving average of $51.95 and a two-hundred day simple moving average of $52.40. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $335.78 billion, a PE ratio of 12.22, a P/E/G ratio of 1.15 and a beta of 1.28.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. Bank of America’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

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

Analysts Set New Price Targets

BAC has been the subject of several research analyst reports. Argus lifted their target price on shares of Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Evercore set a $59.00 price objective on shares of Bank of America in a report on Thursday, January 15th. Truist Financial decreased their price objective on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Oppenheimer boosted their price objective on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Finally, Piper Sandler raised their target price on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.30.

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.