Bank of America Corporation $BAC Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 68.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 227,608 shares of the financial services provider’s stock after selling 482,789 shares during the period. Aptus Capital Advisors LLC’s holdings in Bank of America were worth $11,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Permanent Capital Management LP acquired a new position in Bank of America in the 3rd quarter valued at about $649,000. Meridian Wealth Management LLC lifted its holdings in Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock valued at $3,008,000 after acquiring an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. increased its stake in Bank of America by 15.9% during the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after acquiring an additional 86,290 shares during the last quarter. World Equity Group Inc. raised its position in Bank of America by 21.8% in the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after purchasing an additional 13,119 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at $482,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Down 2.3%

Shares of NYSE:BAC opened at $48.68 on Friday. The firm has a 50 day simple moving average of $53.27 and a 200-day simple moving average of $52.49. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company 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.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

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 given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.3%. Bank of America’s dividend payout ratio is 29.24%.

Analyst Upgrades and Downgrades

BAC has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. CICC Research initiated coverage on shares of Bank of America in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price target on the stock. Truist Financial lowered their price objective on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, January 27th. Finally, Piper Sandler upped their price target on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.30.

Insider Buying and Selling

In other news, insider James P. Demare sold 83,832 shares of the firm’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 in the company, valued at approximately $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the transaction, the insider directly owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

Key Stories Impacting Bank of America

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

Bank of America Company 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.