Prudential PLC Increases Stock Holdings in Bank of America Corporation $BAC

Prudential PLC boosted its position in Bank of America Corporation (NYSE:BAC) by 30.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 920,194 shares of the financial services provider’s stock after purchasing an additional 215,838 shares during the period. Prudential PLC’s holdings in Bank of America were worth $50,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the last quarter. Capital World Investors lifted its position in shares of Bank of America by 11.0% during 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 buying an additional 14,275,810 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of America during the 4th quarter valued at about $4,774,210,000. Bank of New York Mellon Corp lifted its position in shares of Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after buying an additional 2,929,779 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after buying an additional 1,105,833 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BAC. The Goldman Sachs Group lifted their price objective on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Piper Sandler lifted their price objective on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Bank of America in a research report on Thursday, April 16th. Robert W. Baird lifted their price objective on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $61.06.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the sale, the insider directly owned 170,184 shares in the company, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by company insiders.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America announced plans to launch a cross-border real-time payments solution in the third quarter, expanding its global payments offering for corporate and institutional clients and potentially improving fee generation and client retention. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Traders bought a much larger-than-normal amount of BAC call options, which can signal increased speculation that the stock will continue to move higher.
• Positive Sentiment: Multiple market updates noted that financial stocks were broadly stronger on Thursday, which likely provided a supportive backdrop for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Positive Sentiment: Several articles highlighted that Bank of America remains a favored name with analysts and hedge funds, with a high share of Buy ratings and implied upside, reinforcing the bullish longer-term view on BAC. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America also received positive publicity for Merrill advisor recognition in Barron’s rankings and for hiring nearly 4,000 interns and campus recruits, but these are more reputational than near-term earnings catalysts. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron’s Lists
• Negative Sentiment: Jim Cramer’s cautious comments that “there’s something that’s not that great happening there” may have added a small amount of skepticism, though this appears less influential than the upbeat business headlines. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Bank of America Stock Up 3.2%

Shares of BAC opened at $54.06 on Friday. The business’s 50 day moving average is $51.52 and its 200 day moving average is $52.29. The company has a market capitalization of $383.62 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. Bank of America Corporation has a 12-month low of $43.66 and a 12-month high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Research analysts expect that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 27.72%.

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.