Bank of America (NYSE:BAC) Insider Sells $2,491,000.00 in Stock

Bank of America Corporation (NYSE:BAC) insider Thomas Scrivener sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the sale, the insider owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bank of America Stock Performance

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Shares of BAC stock opened at $48.68 on Friday. 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 $349.36 billion, a PE ratio of 12.71, a P/E/G ratio of 1.21 and a beta of 1.28. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $53.27 and a two-hundred day moving average of $52.49.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America's revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. On average, research analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

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The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. Bank of America's dividend payout ratio is presently 29.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. CICC Research assumed coverage on shares of Bank of America in a report on Wednesday, January 14th. They issued an "outperform" rating and a $62.00 price objective on the stock. TD Cowen lowered their target price on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Evercore set a $59.00 price target on Bank of America in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, January 27th. Twenty-two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.30.

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View Our Latest Report on Bank of America

Institutional Investors Weigh In On Bank of America

A number of institutional investors and hedge funds have recently bought and sold shares of BAC. Vanguard Group Inc. increased its position in shares of Bank of America by 3.7% during 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bank of America by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider's stock valued at $6,982,863,000 after purchasing an additional 403,652 shares during the last quarter. Capital World Investors boosted its position in shares of Bank of America by 11.0% in 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 purchasing an additional 14,275,810 shares during the period. Norges Bank purchased a new position in Bank of America during the 2nd quarter worth approximately $5,091,641,000. Finally, Bank of New York Mellon Corp grew its stake in 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 worth $3,169,062,000 after buying an additional 2,929,779 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Bank of America News

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

• Positive Sentiment: Analyst buy thesis: BAC is described as “slipping back into the buy zone” — trading at ~12.5x trailing earnings (below its 10-year average) with a multiyear tailwind from net interest margin expansion as low‑yielding assets reprice, supporting operating leverage and returns. Bank Of America: Slipping Back Into The 'Buy' Zone
• Positive Sentiment: Dividend & income angle: Coverage argues BAC remains attractive for dividend-seeking portfolios — an important point for income investors given the bank’s payout and current yield profile. Bank of America (BAC) Could Be a Great Choice
• Positive Sentiment: Wealth-management product expansion: Bank of America Private Bank launched an Art Consulting service — a niche revenue/relationship initiative that modestly diversifies fee income and deepens HNW client ties. Bank Of America Art Consulting Adds Dimension To Wealth And Valuation Story
• Neutral Sentiment: Underwriting / investment-banking activity: BofA Securities is lead in SM Energy’s $1bn senior notes offering — a reminder of recurring fee revenue from capital markets, but not large enough alone to swing BAC’s stock. Vinson & Elkins Advises Initial Purchasers on SM Energy’s $1 Billion Senior Notes Offering
• Neutral Sentiment: Shareholder / holdings disclosure: Galapagos filed transparency notices showing Bank of America entities crossed a reporting threshold — operational detail about holdings rather than a direct signal about BAC’s performance. Galapagos Receives Transparency Notifications from Bank of America
• Negative Sentiment: Geopolitical / market risk: BofA strategists warn that a prolonged U.S.–Iran war could push investors out of Europe and Japan into oil and the dollar — a macro shock that raises volatility and can hurt banks via risk‑off flows, trading losses, or credit stress. BofA’s Hartnett Sees European, Japanese Stocks at Risk From War
• Negative Sentiment: Market sentiment cooling: Coverage noting that recent BAC share momentum has cooled and valuation dynamics are being reassessed — this sort of reassessment can trigger short‑term selling even if fundamentals remain intact. Assessing Bank Of America (BAC) Valuation As Recent Share Momentum Cools
• Negative Sentiment: Sector rotation commentary: Bank of America research and market pieces (and consequent media coverage) around selling oil stocks and shifting sector preferences signal rotation and positioning changes that can temporarily depress financial shares amid heightened commodity and FX volatility. Bank of America (BAC) Is Telling Investors to Sell Oil Stocks as Crude Prices Soar. Here’s Why

About Bank of America

(Get Free Report)

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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