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

Key Points

• Transcend Capital Advisors trimmed its position in Bank of America by 16.7% in the 4th quarter, selling 10,708 shares and leaving it with 53,543 shares valued at about $2.945 million.
• Insider selling has been notable recently: Bernard A. Mensah sold 94,000 shares and Thomas M. Scrivener sold 50,000 shares, and insiders have sold 227,832 shares (~$11.09 million) in the last 90 days while owning 0.27% of the stock.
• Bank of America beat EPS estimates ($0.98 vs. $0.96) with revenue up 12.3% year-over-year, has a market cap of $381.05 billion, a 2.1% dividend yield, and a MarketBeat consensus rating of "Moderate Buy" with a $59.10 target.

Transcend Capital Advisors LLC lessened its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 16.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,543 shares of the financial services provider's stock after selling 10,708 shares during the period. Transcend Capital Advisors LLC's holdings in Bank of America were worth $2,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Wiser Advisor Group LLC purchased a new position in Bank of America during the 3rd quarter worth approximately $27,000. Steph & Co. grew its stake in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after buying an additional 379 shares during the last quarter. Legacy Bridge LLC grew its stake in Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after buying an additional 330 shares during the last quarter. Marquette Asset Management LLC purchased a new position in Bank of America during the 3rd quarter worth approximately $30,000. Finally, Collier Financial purchased a new position in Bank of America during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Up 1.5%

Shares of BAC stock opened at $53.33 on Tuesday. The business's 50 day moving average is $50.57 and its two-hundred day moving average is $52.21. Bank of America Corporation has a twelve month low of $36.27 and a twelve month high of $57.55. The company has a market capitalization of $381.05 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 0.92 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company 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 business posted $0.82 EPS. The company's revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, March 6th. Bank of America's dividend payout ratio (DPR) is 29.24%.

Bank of America News Roundup

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

• Positive Sentiment: BofA and peers head into Q1 reporting week; investors expect resilient net interest income and trading/deal activity that could boost BAC results. This seasonal momentum is a primary driver behind the stock’s strength. Bank of America, Wells Fargo and Truist to report Q1 earnings amid market volatility, geopolitical pressure
• Positive Sentiment: Bank of America research lifted semiconductor market outlooks and highlighted tailwinds for AI-related names — a bullish macro/tech tone that tends to lift risk appetite and trading revenues at big banks like BAC. Think Nvidia's Stock Has Peaked? The Latest Semiconductor Forecast Might Have You Thinking Twice
• Positive Sentiment: Macro take from BofA’s Michael Hartnett (favoring Chinese tech and select cyclical sectors, and expecting a pause in Fed hikes) supports a risk-on backdrop that benefits bank stocks through improved markets activity and loan demand. The best places to invest now are Chinese tech stocks and this out-of-fashion sector, according to Bank of America
• Neutral Sentiment: Bank of America’s analyst coverage is moving other names (e.g., Nokia upgrades), which highlights the firm’s influence in markets and can indirectly support BAC through trading and investment banking flows — but these are secondary to BAC’s own earnings drivers. Nokia jumps as Bank of America turns bullish on AI-driven optical and hyperscaler demand
• Neutral Sentiment: Corporate housekeeping items (new Oklahoma City market president; consumer-facing sponsorships like the Boston Marathon) are positives for franchise and local relationships but unlikely to move BAC’s near-term stock price materially. BofA Names Olena Lifset Oklahoma City President
• Negative Sentiment: Analysts and previews (Zacks and others) caution that rising expenses and credit risks could temper earnings upside — a key watch into BAC’s Q1 release that could cap gains if results or guidance disappoint. Should You Buy BAC Stock Before Q1 Earnings in an Uncertain Market?

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Daiwa Securities Group dropped their price target on Bank of America from $62.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Truist Financial dropped their price target on Bank of America from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. CICC Research assumed coverage on Bank of America in a research note on Wednesday, January 14th. They set an "outperform" rating and a $62.00 price target on the stock. Barclays raised their price target on Bank of America from $59.00 to $71.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Finally, Morgan Stanley dropped their price target on Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Twenty-three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and a consensus target price of $59.10.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of Bank of America stock in a transaction that occurred 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 transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction that occurred on Thursday, March 5th. The shares were 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 in the company, valued at $11,357,614.86. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 227,832 shares of company stock worth $11,094,960. 0.27% of the stock is currently owned by insiders.

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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