Prana Capital Management LP Purchases 871,079 Shares of Bank of America Corporation $BAC

Key Points

• Prana Capital Management boosted its stake in Bank of America by 40.9%, buying 871,079 shares to hold 3,000,765 shares worth about $154.8M, making BAC 5.2% of its portfolio and its second-largest holding.
• Bank of America reported quarterly EPS of $0.98 (beating estimates) with revenue up 12.3% year-over-year, and declared a quarterly dividend of $0.28 per share (ex-dividend March 6, payable March 27) for a ~2.4% yield.
• Notable insider selling occurred recently (e.g., Bernard Mensah sold ~94,000 shares for ~$4.41M; Thomas Scrivener sold 50,000 shares), while analysts collectively rate BAC a "Moderate Buy" with a consensus price target of about $60.30.

Prana Capital Management LP raised its position in Bank of America Corporation (NYSE:BAC) by 40.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,000,765 shares of the financial services provider's stock after buying an additional 871,079 shares during the quarter. Bank of America comprises about 5.2% of Prana Capital Management LP's portfolio, making the stock its 2nd largest position. Prana Capital Management LP's holdings in Bank of America were worth $154,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Capital Advisers LLC boosted its position in shares of Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after acquiring an additional 188 shares in the last quarter. Shepherd Financial Partners LLC raised its position in Bank of America by 0.3% during the third quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock valued at $3,110,000 after purchasing an additional 189 shares in the last quarter. William B. Walkup & Associates Inc. raised its position in Bank of America by 1.4% during the third quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock valued at $723,000 after purchasing an additional 192 shares in the last quarter. Albion Financial Group UT lifted its stake in Bank of America by 1.6% during the third quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider's stock worth $672,000 after purchasing an additional 205 shares during the last quarter. Finally, Motive Wealth Advisors boosted its holdings in shares of Bank of America by 3.6% in the 3rd quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider's stock valued at $305,000 after purchasing an additional 205 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.4%

Shares of BAC opened at $47.27 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The stock has a market capitalization of $339.23 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.15 and a beta of 1.28. The stock has a fifty day moving average of $52.13 and a 200-day moving average of $52.43.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share 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 quarter in the previous year, the company posted $0.82 EPS. Bank of America's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Insider Activity

In other news, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the firm'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 completion of the transaction, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock valued at $11,094,960 over the last quarter. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price target on 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, January 27th. Evercore set a $59.00 target price on Bank of America in a research report on Thursday, January 15th. Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, Argus increased their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.30.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Management highlighted strategic priorities and a constructive outlook at the RBC conference, reinforcing investor confidence in execution and the bank’s long-term positioning. Bank of America Presents at RBC Conference
• Positive Sentiment: Market commentary is treating BAC as a deep-value, income-biased opportunity (low forward P/E and dividend yield noted), which can attract value-oriented buyers into the stock amid the broader selloff. 5 Oversold Large-Cap Stocks (includes BAC)
• Positive Sentiment: Product innovation: BofA’s rollout with Zelle to speed charitable DAF disbursements is a small but positive operational development that can deepen customer engagement and reduce friction. Bank Of America Uses Zelle To Speed Charitable Giving
• Neutral Sentiment: BofA research is raising energy-price forecasts after Strait of Hormuz disruptions (Brent to ~$77.50 in 2026), which lifts BofA’s energy coverage and could boost trading/IB flows but has an indirect effect on BAC’s stock. Oil shock lifts BofA outlook on US energy
• Neutral Sentiment: Regulatory/ownership disclosures show BAC adjusting stakes in several European names (Galapagos, Umicore, TCM Group), which are routine transparency filings with limited direct impact on BAC’s fundamentals. Galapagos: BAC stake drop disclosure Umicore transparency notifications
• Negative Sentiment: Legal overhang: Bank of America agreed to settle a lawsuit brought by women alleging the bank ignored suspicious Epstein-related transactions—this is reputationally negative and could have financial/settlement cost implications. Bank of America Agrees to Settle Lawsuit Over Jeffrey Epstein Ties
• Negative Sentiment: Insider selling: BAC’s International President Bernard Mensah disclosed the sale of roughly $4.4M of stock, a signal some investors view as a caution (timing and reasons vary). Insider sale disclosure

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.

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