Provident Living Financial Services Inc. Makes New Investment in Bank of America Corporation $BAC

Provident Living Financial Services Inc. acquired a new position in Bank of America Corporation (NYSE:BAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 103,731 shares of the financial services provider’s stock, valued at approximately $5,705,000. Bank of America makes up about 5.4% of Provident Living Financial Services Inc.’s investment portfolio, making the stock its 5th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 in the last quarter. Capital World Investors lifted its stake in shares of Bank of America by 11.0% during the third 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 during the period. Danske Bank A S acquired a new position in shares of Bank of America during the third quarter valued at $224,863,000. Capitolis Liquid Global Markets LLC lifted its stake in shares of Bank of America by 52.0% during the third quarter. Capitolis Liquid Global Markets LLC now owns 12,496,236 shares of the financial services provider’s stock valued at $644,681,000 after acquiring an additional 4,273,472 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Bank of America during the third quarter valued at $218,030,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insiders Place Their Bets

In other Bank of America news, insider James P. Demare sold 83,832 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $46.94, for a total value of $4,412,360.00. Following the completion of the sale, the insider owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock worth $11,094,960 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Bank of America News Roundup

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

• Positive Sentiment: Regulatory draft could free capital — Analysts estimate U.S. banks might be able to release up to ~$320 billion under proposed draft rules, which would meaningfully boost capital available for buybacks/dividends and improve return metrics for big banks like BAC. US banks could release $320 billion…
• Positive Sentiment: Momentum: BAC has extended a multi-session winning streak, reflecting improving investor sentiment ahead of earnings and helping lift the stock. Bank of America extends winning streak…
• Positive Sentiment: Product traction: CashPro app usage rose ~20% and clients are authorizing large payment flows in real time — a sign of fee-generating commercial client engagement and digital product strength. CashPro App Usage Rises 20%…
• Positive Sentiment: Analyst upgrades / research credibility: HSBC recently upgraded BAC to Buy (PT $55) and other research activity highlights BofA’s role as a prominent sell‑side shop — supporting investor confidence. A Downgraded Target for Bank of America…
• Neutral Sentiment: Capital/debt action: BAC announced the redemption of $3.0B of 3.559% senior notes due April 2027 — straightforward liability management that modestly alters the debt schedule but is not a surprise. Bank of America Announces Redemption…
• Neutral Sentiment: Estimates and research: Erste Group nudged up FY2026/FY2027 EPS estimates for BAC — small upward revisions that support fundamentals heading into Q1 results (reporting April 15). Erste Group raises EPS estimates…
• Negative Sentiment: Mixed/trimmed price targets: Several banks (UBS, JPMorgan, Daiwa, Truist) have trimmed price targets recently (though many kept buy/overweight ratings), which can cap upside and increase short-term volatility. UBS adjusts price target on Bank of America…
• Negative Sentiment: Conflicting forecasts: Some outlets and firms issued pessimistic near‑term forecasts for BAC, adding noise to the tape and pressuring sentiment despite other supportive signals. Autonomous Res issues pessimistic forecast…

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Argus upped their price target on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Piper Sandler upped their price target on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, January 15th. Daiwa Securities Group cut their price target on Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group upped their price target on Bank of America from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wolfe Research lowered Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $59.10.

Bank of America Stock Up 3.2%

Shares of Bank of America stock opened at $51.91 on Thursday. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The business has a 50-day moving average of $50.61 and a two-hundred day moving average of $52.19. The company has a market capitalization of $370.90 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, March 6th. Bank of America’s dividend payout ratio is 29.24%.

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.