Bank of America Corporation $BAC Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in Bank of America by 9.9% in Q3, buying an additional 63,197 shares to hold 704,356 shares worth about $36.34 million according to its latest 13F filing.
• Insider selling has been notable recently: Bernard A. Mensah sold 94,000 shares (avg $46.94) and James P. Demare sold 83,832 shares (avg $50), with insiders disposing of 227,832 shares valued at about $11.09 million in the last 90 days.
• Wall Street sentiment is broadly constructive with a consensus rating of "Moderate Buy" and a $60.30 consensus price target, while BAC pays a quarterly dividend of $0.28 (annualized yield ~2.4%).

Prudential PLC grew its position in Bank of America Corporation (NYSE:BAC - Free Report) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704,356 shares of the financial services provider's stock after buying an additional 63,197 shares during the period. Prudential PLC's holdings in Bank of America were worth $36,338,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Steph & Co. lifted its holdings in Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 379 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in Bank of America during the third quarter worth $30,000. Collier Financial purchased a new stake in Bank of America in the third quarter valued at $30,000. Mountain Hill Investment Partners Corp. purchased a new stake in Bank of America in the third quarter valued at $31,000. Finally, Wealth Preservation Advisors LLC lifted its stake in shares of Bank of America by 48.7% in the 2nd quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares of the company's stock, valued at $7,988,436.96. This represents a 35.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the stock in a transaction that occurred 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 sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 in the last ninety days. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research analyst reports. HSBC increased their price target on Bank of America from $55.00 to $57.00 and gave the stock a "hold" rating in a report on Friday, February 6th. Barclays increased their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. TD Cowen dropped their price target on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, January 15th. Argus boosted their price target on shares of Bank of America from $58.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Finally, Wolfe Research lowered shares of Bank of America from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 7th. Twenty-one research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.30.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.72 on Friday. The stock has a market capitalization of $335.32 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average of $52.52 and a 200 day moving average of $52.45. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 earnings per share. As a group, sell-side analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors 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%.

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 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.

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