Swiss Life Asset Management Ltd Raises Stake in Bank of America Corporation $BAC

Swiss Life Asset Management Ltd boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 799,235 shares of the financial services provider’s stock after buying an additional 75,383 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Bank of America were worth $41,233,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital World Investors boosted its stake in Bank of America by 11.0% in 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 last quarter. Norges Bank purchased a new stake in shares of Bank of America during the 2nd quarter worth approximately $5,091,641,000. Fisher Asset Management LLC raised its holdings in shares of Bank of America by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock worth $2,717,657,000 after purchasing an additional 1,272,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Bank of America by 640.5% in the 3rd 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 during the period. Finally, Legal & General Group Plc lifted its stake in Bank of America by 3.4% in the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider’s stock valued at $2,266,045,000 after purchasing an additional 1,458,551 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America ranks as a top mobile app (tie with U.S. Bank) in a Q1 mobile-banking scorecard — a positive for customer engagement and deposit retention trends. Banks Strengthen Mobile Account Opening and Debit Card Controls
• Positive Sentiment: Management presented at the RBC conference highlighting strategic priorities and steady financial performance, which supports the view that BAC’s operations remain resilient. Bank of America Corporation (BAC) Presents at RBC Conference, Here’s What You Need to Know
• Neutral Sentiment: Elavon named a former Bank of America merchant-services executive as its CEO — a talent win/loss dynamic that’s operationally neutral for BAC but notable for industry mobility. Elavon Picks BofA Vet Wally Mlynarski as CEO
• Neutral Sentiment: Bank of America research raised its hyperscaler debt forecast after large deals (e.g., Amazon issuance), reflecting higher corporate issuance expectations that could boost trading and origination revenues. BofA Lifts Hyperscaler Debt Forecast 25% to $175 Billion
• Negative Sentiment: Broader coverage notes bank stocks (including BAC) sliding amid growing worries about private-credit stress — investors are marking down valuations on fears of losses or a “fire-sale” in alternatives, pressuring regional and large-bank shares alike. Bank Stocks Are the Canary in the Recession Coal Mine. It’s Not Time to Worry—Yet
• Negative Sentiment: An Epstein-related settlement has surfaced in headlines that put Bank of America’s valuation and governance under scrutiny, adding firm-specific downside sentiment for investors worried about legal/governance risks. Epstein Settlement Puts Bank Of America Valuation And Governance In Focus

Bank of America Trading Down 1.0%

NYSE:BAC opened at $46.79 on Thursday. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The stock’s fifty day moving average price is $51.95 and its two-hundred day moving average price is $52.40. 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 company has a market cap of $335.78 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.15 and a beta of 1.28.

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 for the quarter, beating 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 analysts’ expectations of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s payout ratio is presently 29.24%.

Insider Activity

In other news, 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 value of $4,412,360.00. Following the completion of the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Demare sold 83,832 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total transaction 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. This represents a 21.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer increased their price objective on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods dropped their price target on Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Wall Street Zen upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Royal Bank Of Canada lifted their price objective on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, HSBC upped their price objective on shares of Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a report on Friday, February 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

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.