ProVise Management Group LLC Buys 10,387 Shares of Bank of America Corporation $BAC

Key Points

• ProVise Management Group boosted its Bank of America stake by 11.8%, acquiring 10,387 shares to hold 98,226 shares valued at about $5.40 million, while institutional investors own roughly 70.71% of BAC.
• Bank of America beat Q1 expectations with $1.11 EPS (vs. $1.00) and $30.27 billion in revenue, and announced a quarterly dividend of $0.28 per share (about a 2.2% yield).
• Analyst sentiment is largely positive: the consensus is a Moderate Buy with an average price target of $60.90 following several broker upgrades and target revisions.

ProVise Management Group LLC lifted its holdings in Bank of America Corporation (NYSE:BAC) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,226 shares of the financial services provider's stock after acquiring an additional 10,387 shares during the period. ProVise Management Group LLC's holdings in Bank of America were worth $5,402,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. TBH Global Asset Management LLC lifted its holdings in shares of Bank of America by 35.4% in the 4th quarter. TBH Global Asset Management LLC now owns 14,202 shares of the financial services provider's stock valued at $781,000 after acquiring an additional 3,713 shares during the last quarter. Segment Wealth Management LLC lifted its holdings in shares of Bank of America by 11.9% in the 4th quarter. Segment Wealth Management LLC now owns 9,579 shares of the financial services provider's stock valued at $527,000 after acquiring an additional 1,016 shares during the last quarter. Golden Reserve Retirement LLC bought a new position in shares of Bank of America in the 4th quarter valued at about $373,000. Directional Asset Management bought a new position in shares of Bank of America in the 4th quarter valued at about $783,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Bank of America by 216.7% in the 4th quarter. Rakuten Securities Inc. now owns 893 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 611 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BAC. Evercore increased their price target on shares of Bank of America from $55.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. UBS Group decreased their price objective on shares of Bank of America from $67.00 to $62.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, HSBC raised their price objective on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.90.

Bank of America Stock Performance

Shares of BAC stock opened at $52.04 on Friday. The company's 50 day moving average is $50.33 and its 200 day moving average is $52.33. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 52-week low of $38.81 and a 52-week high of $57.55. The firm has a market cap of $371.87 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.89 and a beta of 1.23.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion for the quarter, compared to analyst estimates of $29.72 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's payout ratio is currently 27.72%.

Insiders Place Their Bets

In other Bank of America news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares of the company's stock, valued at approximately $15,362,000. The trade was a 21.44% 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 the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.27% of the stock is currently owned by insiders.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Board declared a quarterly cash dividend of $0.28 per share (payable June 26, 2026; record date June 5), reinforcing capital return to shareholders and supporting yield-focused demand. Bank of America Declares Second Quarter 2026 Stock Dividends
• Positive Sentiment: Jefferies reiterated a Buy and raised its price target to $65 following BofA’s strong Q1 results—an analyst endorsement that can support upside in the stock. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
• Positive Sentiment: High-profile investor endorsement persists: coverage notes that Berkshire/Warren Buffett continues to hold BAC, a long‑running vote of confidence for long-term investors. Bank of America (BAC) Remains in Warren Buffett’s Portfolio Since 2011; See Why
• Positive Sentiment: Industry context: Forbes reports that the largest U.S. banks returned record capital (dividends + buybacks) in Q1 — a favorable backdrop for BAC and investor appetite for bank equities. America's 8 Biggest Banks Are Returning Record Capital To Shareholders
• Neutral Sentiment: BofA research highlighted that a simple balanced “Sleep Like a Baby” portfolio is having a historic year — a market commentary item that showcases the bank’s analytics but is not direct company-specific news. The ‘Sleep Like a Baby’ Portfolio Is Having a Historic Year, Says BofA
• Neutral Sentiment: Macro/market note: Bloomberg coverage on collapsing volatility and renewed carry trades signals lower market stress and improved risk appetite — a backdrop that can lift banking fees/trading over time but is not an immediate company catalyst. Collapsing Volatility Turbocharges Returns in Carry Trades
• Neutral Sentiment: Corporate social/branding item: BofA awarded art conservation grants across multiple countries — positive for reputation but unlikely to move near-term stock performance. Historic Artworks Receive Funding through BofA's Art Conservation Project™
• Negative Sentiment: Bank of America materially trimmed its stake in Austrian property firm CA Immobilien Anlagen to 0.22% — a small, company-specific sell action that may signal portfolio rebalancing or risk reduction (likely immaterial to BAC’s fundamentals but interpreted negatively by some traders). Bank of America Slashes Stake in CA Immobilien Anlagen to 0.22%

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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