Bank of America Corporation $BAC Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd trimmed its Bank of America stake by 50.4% in Q4, selling 57,309 shares and leaving it with 56,342 shares worth about $3.10 million.
• Significant insider selling occurred recently — Bernard Mensah sold 94,000 shares and Thomas Scrivener sold 50,000, with insiders offloading 227,832 shares (~$11.1M) in the last quarter (insiders now own 0.30%).
• Bank of America beat Q results on EPS ($0.98 vs. $0.96), reported revenue up 12.3% year-over-year, declared a $0.28 quarterly dividend (2.3% yield), and carries a consensus analyst target of about $59.54 with mostly Buy ratings.

Perpetual Ltd cut its holdings in shares of Bank of America Corporation (NYSE:BAC) by 50.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,342 shares of the financial services provider's stock after selling 57,309 shares during the quarter. Perpetual Ltd's holdings in Bank of America were worth $3,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Brighton Jones LLC raised its stake in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after buying an additional 6,174 shares during the period. Diametric Capital LP acquired a new stake in shares of Bank of America during the 2nd quarter worth $302,000. SageView Advisory Group LLC raised its position in shares of Bank of America by 7.1% in the 2nd quarter. SageView Advisory Group LLC now owns 81,566 shares of the financial services provider's stock worth $3,934,000 after buying an additional 5,380 shares during the period. Finally, Avestar Capital LLC raised its position in shares of Bank of America by 15.1% in the 2nd quarter. Avestar Capital LLC now owns 56,228 shares of the financial services provider's stock worth $2,661,000 after buying an additional 7,366 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $49.37 on Friday. The business's 50-day simple moving average is $50.68 and its 200 day simple moving average is $52.21. The company has a market cap of $352.75 billion, a P/E ratio of 12.89, a PEG ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a one year low of $33.06 and a one year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. On average, sell-side analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America's dividend payout ratio (DPR) is presently 29.24%.

Insider Buying and Selling

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the business's stock in a transaction 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 in the company, valued at $7,988,436.96. The trade was a 35.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last quarter. Company insiders own 0.30% of the company's stock.

Bank of America News Summary

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

• Positive Sentiment: HSBC upgraded BAC to a "Buy," a near‑term lift as a respected shop adding conviction to the stock amid broader bank‑sector momentum. HSBC Upgrades Bank of America
• Positive Sentiment: Barclays reiterated its Buy on BAC, reinforcing analyst support and likely helping limit downside from other negative headlines. Barclays Sticks to Its Buy Rating
• Positive Sentiment: Analysis highlights BAC's robust capital‑return plan (record earnings, $40B buyback and steady dividend hikes) — a structural tailwind that supports the stock's valuation and investor demand. Capital Return Strategy
• Neutral Sentiment: Preliminary approval of a $72.5M settlement with Epstein accusers removes some legal uncertainty but represents an immediate cash cost — mixed for near‑term EPS but clears an overhang. Settlement Approval
• Neutral Sentiment: Bank of America disclosed a 3.01% voting stake in Qiagen — a portfolio/strategic holding disclosure that is unlikely to move BAC’s core earnings but is notable for asset‑management transparency. Qiagen Voting Stake
• Neutral Sentiment: Bank of America data on card‑spending trends (furniture/department stores down, gas station spending up) signals shifting consumer patterns that will shape fee and interchange trends — watch consumer credit and transaction volumes. Card Spending Trends
• Negative Sentiment: Morgan Stanley trimmed its BAC price target to $61 — a downward revision that can pressure sentiment even if the rating remains constructive. Morgan Stanley Cuts Price Target
• Negative Sentiment: A foiled bomb plot targeting a Bank of America Paris branch and subsequent remote‑work measures have drawn attention to the bank’s geopolitical and physical‑security exposure; while arrests and pre‑trial detentions reduce immediate threat, the headlines raise operational‑risk sensitivity. Foiled Paris Bomb Plot and Remote‑Work Shift

Analysts Set New Price Targets

Several brokerages have commented on BAC. JPMorgan Chase & Co. upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 6th. CICC Research started coverage on Bank of America in a report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 target price for the company. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Piper Sandler raised their price target on shares of Bank of America from $56.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 15th. Finally, Argus boosted their price objective on shares of Bank of America from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Twenty-three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $59.54.

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.

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