Bank of America Corporation $BAC Shares Bought by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management boosted its BAC stake 21.8% in Q4 to 412,946 shares valued at about $22.71 million, and institutional investors now own roughly 70.7% of the stock.
• Insider sales were substantial — company insiders sold 227,832 shares in the last quarter (including 50,000 and 94,000-share transactions), totaling about $11.1 million and leaving insiders with ~0.27% ownership.
• Q1 results topped estimates and analysts raised targets — BAC reported $1.11 EPS vs $1.00 expected and $30.27B revenue, spurring multiple price-target increases and a consensus "Moderate Buy" average target of $60.90.

Evergreen Capital Management LLC grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 21.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 412,946 shares of the financial services provider's stock after acquiring an additional 73,920 shares during the period. Evergreen Capital Management LLC's holdings in Bank of America were worth $22,712,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Permanent Capital Management LP acquired a new position in shares of Bank of America in the 3rd quarter worth approximately $649,000. Meridian Wealth Management LLC grew its position in shares of Bank of America by 54.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider's stock worth $3,008,000 after acquiring an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. lifted 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 purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. boosted its holdings 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 worth $3,779,000 after purchasing an additional 13,119 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in Bank of America in the third quarter worth $482,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of America

In other news, insider Thomas M. Scrivener sold 50,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the transaction, the insider owned 227,973 shares of the company's stock, valued at approximately $11,357,614.86. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The stock was 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 of the company's stock, valued at approximately $7,988,436.96. The trade was a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 227,832 shares of company stock valued at $11,094,960. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BAC shares. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Bank of America in a report on Thursday, April 16th. Daiwa Securities Group reduced their price target on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Argus raised their target price on shares of Bank of America from $59.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group raised their target price on shares of Bank of America from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.90.

Bank of America News Summary

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

• Positive Sentiment: Alaska Air expands its long‑standing co‑branded credit‑card deal with Bank of America, moving toward a single issuer for Atmos Rewards and creating a multi‑year stream of card fees and consumer engagement that should support card revenue and customer deposits. Alaska Air Group and Bank of America Expand Long-Standing Credit Card Partnership
• Positive Sentiment: Oppenheimer raised its price target on BAC to $61 (maintaining an Outperform) after Bank of America’s quarter — another vote of confidence from the sell‑side that supports upside expectations. Is Bank of America Corporation (BAC) One of the Best Cheap Stocks for Beginners to Invest in?
• Positive Sentiment: Several broker notes and outlets have lifted BAC price targets in recent days (range cited ~$58–$64), reflecting broad analyst support following the quarterly beat and reinforcing demand expectations for the stock. Bank of America NYSE: BAC Price Target Raised to $64.00
• Positive Sentiment: Royal Bank of Canada reiterated an Outperform on BAC, adding to the cluster of positive analyst views that can buoy investor sentiment. Bank of America's (BAC) Outperform Rating Reiterated at Royal Bank Of Canada
• Neutral Sentiment: Internal and external BofA research activity remains high — analysts at BofA lifted targets on names like Seagate and reiterated Buy on Meta and AppLovin — signaling an active research desk but not directly changing BAC fundamentals. Seagate Technology price target boosted by Bank of America ahead of quarterly report
• Neutral Sentiment: Bank of America executives marked the firm’s long presence in Canada by opening the market in Toronto — a branding/relationship positive but with limited near‑term financial impact. Bank of America Opens the Market
• Neutral Sentiment: BofA strategist Sebastian Raedler warned that equity markets may be too optimistic amid low risk premia and geopolitical energy risks — a cautionary macro view that could weigh on broad bank valuations if markets reprice risk. BofA’s Raedler Warns Equity Markets Too Optimistic Amid 20-Year Low Risk Premium

Bank of America Stock Performance

Shares of BAC opened at $53.89 on Tuesday. Bank of America Corporation has a 1 year low of $36.49 and a 1 year high of $57.55. The company has a market cap of $385.05 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23. 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 firm has a fifty day moving average of $50.40 and a 200-day moving average of $52.29.

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. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Bank of America Corporation will post 4.44 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio is presently 27.72%.

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.

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