Bank of America Corporation $BAC Shares Sold by Brick & Kyle Associates

Key Points

• Brick & Kyle Associates cut its Bank of America stake by 66.0% in Q3 (now 31,223 shares, ~$1.61M) and insiders have sold a combined 227,832 shares (~$11.1M) in the last 90 days, including Bernard Mensah (94,000 shares) and James P. Demare (83,832 shares), indicating notable selling pressure.
• Wall Street remains broadly constructive with 21 Buy vs. 5 Hold ratings and an average target of $60.30; analysts have raised targets (Wells Fargo to $65), BAC beat EPS ($0.98 vs. $0.96) with revenue growth year-over-year, and the board declared a $0.28 quarterly dividend (2.4% yield).
• Offsetting the bullish signals, sector headwinds—rate volatility, heavy Treasury issuance—and warnings from BofA strategist Michael Hartnett, plus large shareholder exits (including Berkshire trimming its stake), have pressured near-term sentiment for BAC.

Brick & Kyle Associates cut its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 66.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,223 shares of the financial services provider's stock after selling 60,617 shares during the quarter. Brick & Kyle Associates' holdings in Bank of America were worth $1,611,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Steph & Co. raised its position in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after purchasing an additional 379 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Bank of America in the third quarter worth about $30,000. Collier Financial purchased a new position in shares of Bank of America in the third quarter worth approximately $30,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Bank of America during the third quarter valued at approximately $31,000. Finally, Wealth Preservation Advisors LLC raised its holdings in shares of Bank of America by 48.7% during the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 223 shares during the period. Institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. 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 objective for the company. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Wells Fargo & Company raised their target price on Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Daiwa Securities Group lowered their price target on Bank of America from $66.00 to $62.00 and set a "buy" rating on the stock in a report on Tuesday, January 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, January 27th. Twenty-one equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.30.

Bank of America News Roundup

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

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of "Moderate Buy"
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

Insider Buying and Selling at Bank of America

In other news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider owned 170,184 shares of the company's stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Demare sold 83,832 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $50.00, for a total transaction of $4,191,600.00. Following the completion of the sale, the insider owned 307,240 shares of the company's stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 227,832 shares of company stock worth $11,094,960 over the last 90 days. Insiders own 0.30% of the company's stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $46.72 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Corporation has a one year low of $33.06 and a one year high of $57.55. The business's 50-day moving average price is $52.52 and its two-hundred day moving average price is $52.47. The company has a market capitalization of $335.32 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.28.

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

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, March 6th. Bank of America's dividend payout ratio (DPR) is 29.24%.

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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