Bank of America Corporation $BAC Shares Sold by Payden & Rygel

Key Points

• Payden & Rygel cut its Bank of America stake by 9.4% in the fourth quarter, selling 53,700 shares and leaving it with 515,700 shares valued at about $28.4 million.
• Bank of America reported solid quarterly results, with EPS of $1.11 beating estimates and revenue of $30.27 billion also topping expectations, while revenue rose 10.7% year over year.
• The company remains well covered by analysts and pays a dividend: Wall Street consensus is a “Moderate Buy” with a $61.06 price target, and BAC recently declared a quarterly dividend of $0.28 per share, yielding about 2.2%.

Payden & Rygel decreased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 515,700 shares of the financial services provider's stock after selling 53,700 shares during the quarter. Bank of America comprises 2.0% of Payden & Rygel's holdings, making the stock its 11th largest holding. Payden & Rygel's holdings in Bank of America were worth $28,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in Bank of America during the fourth quarter worth $231,000. Stronghold Wealth Management L.L.C. acquired a new stake in Bank of America during the fourth quarter worth $384,000. Entrust Financial LLC acquired a new stake in Bank of America during the fourth quarter worth $90,000. GLOBALT Investments LLC GA increased its stake in Bank of America by 8.9% during the fourth quarter. GLOBALT Investments LLC GA now owns 235,767 shares of the financial services provider's stock worth $12,967,000 after acquiring an additional 19,349 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in Bank of America by 140.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 50,014 shares of the financial services provider's stock worth $2,751,000 after acquiring an additional 29,252 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Up 1.7%

Shares of BAC stock opened at $50.64 on Tuesday. 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 $359.36 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The company has a 50 day moving average price of $50.42 and a 200 day moving average price of $52.42. Bank of America Corporation has a fifty-two week low of $42.35 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates 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 business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Equities research analysts predict that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's payout ratio is presently 27.72%.

Insider Buying and Selling

In related news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction 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 $7,988,436.96. The trade was a 35.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 354,588 shares of company stock valued at $17,814,296. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. dropped their price target 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. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Robert W. Baird lifted their price target on shares of Bank of America from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Finally, Oppenheimer lifted their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s own analysts continued to sound constructive on several AI-linked tech names, including Micron, NVIDIA and ServiceNow, with higher price targets and Buy ratings. That can reinforce BAC’s reputation for having influential research coverage and may reflect confidence in broader market conditions that support investment banking and trading activity. BofA Remains a Buy on Micron (MU), Raises PT
• Positive Sentiment: Separate coverage also highlighted Bank of America’s digital banking strength, noting that the bank tied for first place in a Keynova Group ranking. That supports the view that BAC is improving customer experience and competing effectively on technology, which is important for long-term deposit retention and efficiency. Bank Of America’s Digital Win And What It Means For Investors
• Neutral Sentiment: Bank of America agreed to a $2.25 million settlement in a 7-Eleven ATM lawsuit tied to certain account holders. The dollar amount is small relative to BAC’s size, so the financial impact appears limited, though it adds another legal headline. Bank of America agrees to $2.25M settlement in 7-Eleven ATM lawsuit
• Neutral Sentiment: One article pointed to a change in Bank of America’s economic exposure to CA Immo, but this appears to be a holdings disclosure rather than a direct operating development for BAC. It is unlikely to drive the stock on its own. Bank of America lifts economic exposure to CA Immo to 4.15%
• Negative Sentiment: One market note warned that credit conditions may deteriorate in the second half of 2026, which would be a concern for large banks like BAC because it could pressure loan growth and increase credit losses. Best Bank Stocks to Buy in 2026
• Negative Sentiment: Another article framed Bank of America as one of several S&P 500 names facing concerns, suggesting some investors still see structural or execution risks. That kind of caution can weigh on sentiment, even if it is not tied to a fresh BAC-specific earnings miss. 3 S&P 500 Stocks That Concern Us

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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