Bank of America Corporation $BAC Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. lessened its stake in Bank of America Corporation (NYSE:BAC) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,613,917 shares of the financial services provider’s stock after selling 108,337 shares during the period. Bank of America comprises 3.6% of Basswood Capital Management L.L.C.’s portfolio, making the stock its 5th largest holding. Basswood Capital Management L.L.C.’s holdings in Bank of America were worth $88,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new position in Bank of America in the third quarter valued at $27,000. Legacy Bridge LLC boosted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Joseph Group Capital Management acquired a new position in Bank of America in the fourth quarter valued at $32,000. HFM Investment Advisors LLC boosted its stake in Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners boosted its stake in Bank of America by 90.2% in the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BAC shares. Piper Sandler upped their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Truist Financial upped their price objective on shares of Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Bank of America from $61.50 to $57.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Bank of America in a research note on Thursday, April 16th. Finally, Evercore reduced their target price on shares of Bank of America from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.06.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Analysts and commentary highlighted BAC’s strong Q1 results, robust deposit base, and improving revenue prospects in markets and wealth management, supporting the case for continued momentum. Bank Of America (BAC) Stock Valuation After Strong Q1 Results And Upgraded Markets Revenue Outlook
• Positive Sentiment: Bank of America announced regular preferred-stock dividend declarations, reinforcing its capital-return profile and signaling balance-sheet stability. Bank of America Declares Preferred Stock Dividends Payable in July and August 2026
• Positive Sentiment: One report noted that Erste Group raised its FY2027 EPS estimate for BAC, suggesting some analysts see earnings power improving over time.
• Neutral Sentiment: BofA’s own market commentary warned investors that optimism is elevated and that an AI-driven bubble may be vulnerable, but these views are more about the broader market than BAC’s fundamentals. Bank of America Sends a Stark Warning on the S&P 500
• Negative Sentiment: A DOJ subpoena report tied BAC to a sweeping bank industry probe into customer account closures, which could create legal, regulatory, and reputational overhang. JPMorgan, Bank of America receive subpoena from DOJ
• Negative Sentiment: Another article argued BAC has been going sideways and lagging the S&P 500 over the past six months, which may temper enthusiasm despite recent gains. 3 Reasons to Sell BAC and 1 Stock to Buy Instead

Bank of America Price Performance

Shares of NYSE:BAC opened at $55.96 on Friday. The company has a 50-day simple moving average of $52.29 and a 200-day simple moving average of $52.41. Bank of America Corporation has a one year low of $43.66 and a one year high of $57.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $397.15 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 0.95 and a beta of 1.18.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.11. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business had revenue of $30.27 billion during the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s dividend payout ratio is presently 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.