Key Points
- Insider sale: Geoffrey Greener sold 126,756 shares at an average of $53.01 for a total of $6,719,335.56, trimming his stake by 8.45% to 1,373,397 shares (≈$72.8M).
- Quarterly results beat: Bank of America reported Q1 EPS of $1.11 versus $1.00 expected and revenue of $30.27B (up 10.7% YoY), beating consensus estimates.
- Dividend announced: The firm declared a quarterly dividend of $0.28 ($1.12 annualized) with an ex-dividend date of June 5 and payment on June 26, implying a ~2.1% yield.
Bank of America Corporation (NYSE:BAC) insider Geoffrey Greener sold 126,756 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Bank of America Stock Down 1.7%
NYSE:BAC opened at $52.71 on Friday. Bank of America Corporation has a one year low of $41.25 and a one year high of $57.55. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $374.04 billion, a PE ratio of 13.05, a P/E/G ratio of 0.91 and a beta of 1.21. The firm's 50 day simple moving average is $50.44 and its 200 day simple moving average is $52.51.
Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly 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 firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. On average, research analysts anticipate that Bank of America Corporation will post 4.46 earnings per share for the current year.
Bank of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, June 5th. Bank of America's dividend payout ratio is presently 27.72%.
Key Stories Impacting Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: BofA received an analyst boost when UBS raised its price target on BAC, signaling upside from the Street and supporting investor confidence. UBS Raises PT
- Positive Sentiment: Bank of America is expanding its role in defense financing and supporting domestic drone/robotics production via its GovCon unit — this can drive new lending and advisory fees as federal defense demand grows. Defense Financing
- Positive Sentiment: Acted as lead lender on a $1.8 billion refinance for 9 West 57th Street — a sizable commercial real-estate financing that generates loan revenue and reinforces BofA’s commercial banking pipeline. 9 West 57th Refinance
- Neutral Sentiment: Shareholder votes at the 2026 annual meeting kept leadership and governance largely unchanged — reduces near-term corporate governance uncertainty but is unlikely to move the stock materially. Shareholder Vote
- Neutral Sentiment: BofA-hosted conferences and client events (e.g., Industrials conference participation by clients, Breakthrough Technology Dialogue) underline franchise strength and deal flow but are informational rather than immediate stock drivers. Conference Participation
- Negative Sentiment: Insider selling: Geoffrey S. Greener sold ~126,756 shares (~$6.7M) in early May, trimming his stake — such high‑profile insider sales can sap sentiment even if not tied to company fundamentals. Insider Sale
- Negative Sentiment: Related-party selling pressure: reports indicate Berkshire Hathaway’s successor Greg Abel continued to trim BAC for a seventh consecutive quarter — fueling narrative of reduced long‑term buying from a major holder. Greg Abel Sells
Institutional Investors Weigh In On Bank of America
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings 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 in the last quarter. Capital World Investors grew 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 worth $7,448,816,000 after buying an additional 14,275,810 shares during the period. Norges Bank bought a new stake in shares of Bank of America in the 4th quarter valued at $4,774,210,000. Bank of New York Mellon Corp increased its stake in shares of Bank of America by 5.4% in 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 acquiring 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 acquiring an additional 1,105,833 shares during the period. Institutional investors own 70.71% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on BAC. Jefferies Financial Group upped their price target on Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. UBS Group raised their price objective on Bank of America from $62.00 to $63.00 in a research report on Wednesday. Truist Financial lifted their price objective on Bank of America from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of Bank of America from $61.50 to $57.50 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Bank of America from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $61.06.
Get Our Latest Research Report on BAC
Bank of America Company Profile
(
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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