Bank of America Corporation $BAC Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc reduced its Bank of America stake by 26.6% in Q3, selling 62,130 shares and now holding 171,435 shares valued at about $8.84 million.
• Senior insiders sold material stock: James P. Demare sold 83,832 shares for ~$4.19M and Thomas M. Scrivener sold 50,000 shares for ~$2.49M, leaving insiders with roughly 0.30% ownership.
• Bank of America beat quarterly EPS estimates with $0.98 (vs. $0.96), announced a $0.28 quarterly dividend (2.3% yield), and carries a consensus analyst rating of "Moderate Buy" with a $60.30 target.

Vestcor Inc lessened its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 26.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,435 shares of the financial services provider's stock after selling 62,130 shares during the period. Vestcor Inc's holdings in Bank of America were worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of 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 increased its stake in Bank of America by 40.5% in 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. Midwest Trust Co purchased a new position in Bank of America during the 2nd quarter worth $2,610,000. PFG Advisors lifted its stake in shares of Bank of America by 12.4% in the 2nd quarter. PFG Advisors now owns 27,433 shares of the financial services provider's stock worth $1,298,000 after acquiring an additional 3,020 shares during the period. Finally, Summit X LLC purchased a new stake in shares of Bank of America in the second quarter valued at about $248,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Down 1.5%

Bank of America stock opened at $47.91 on Tuesday. The stock has a market cap of $343.83 billion, a PE ratio of 12.51, a P/E/G ratio of 1.19 and a beta of 1.28. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $53.13 and a 200 day moving average price of $52.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $4.53 billion for 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 quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. Bank of America's dividend payout ratio (DPR) is currently 29.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BAC. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $64.00 to $63.00 and set an "outperform" rating for the company in a report on Thursday, January 15th. Wolfe Research cut Bank of America from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th. Argus increased their target price on Bank of America from $58.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Truist Financial decreased 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. Finally, CICC Research assumed coverage on Bank of America in a research report on Wednesday, January 14th. They issued an "outperform" rating and a $62.00 price objective for the company. 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, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $60.30.

Bank of America News Summary

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

• Positive Sentiment: Led a $2.75 billion leveraged loan to help fund Nexstar’s acquisition of Tegna — underwriting and lending fee revenue support BofA’s core spread and investment-banking activity. Bank of America Offers $2.75 Billion Loan for Tegna Acquisition
• Positive Sentiment: Published the 2026 U.S. Art Market Report with ArtTactic — a PR/wealth-management touchpoint that highlights BofA’s private-banking and UHNW client engagement. U.S. Art Market Rebounds, Posting a 23% Increase in Auction Sales
• Neutral Sentiment: BofA research flagged AI-driven winners around Nvidia’s GTC event — reinforces the bank’s equity research influence but is more a market/sector call than an immediate BAC driver. Nvidia’s big GTC event could spark a rally in these 5 stocks
• Neutral Sentiment: BofA warns about AI risks to software stocks — a thematic research call that may influence clients’ sector positioning but doesn’t directly change bank fundamentals. The AI Threat to Software Stocks Is Real, Warns Bank of America (BAC)
• Negative Sentiment: Several senior insiders sold shares recently (reported filings show multimillion-dollar disposals), which can pressure sentiment and raise governance/risk questions for short-term holders. Insider Selling: Bank of America NYSE: BAC Insider Sells $4,191,600.00 in Stock Insider Selling: Bank of America NYSE: BAC Insider Sells $2,491,000.00 in Stock
• Negative Sentiment: Coverage highlighted a funding mix shift from floating to fixed-rate funding — investors interpret this as a cautious risk-management move that could signal concerns about short-term liquidity/interest-rate positioning. Bank of America’s Funding Shift From Floating to Fixed: Subtle Clue About BAC’s Risk Strategy?
• Negative Sentiment: Strategist and risk-focused coverage flagged systemic risks (leveraged-loan exposures, bank-loan ETF stress, a public stance on crypto policy) — feeds a cautious narrative that likely weighed on the stock today. Bank Of America Risk Signals From Loans Crypto Policy And Insiders

Insiders Place Their Bets

In other news, insider James P. Demare sold 83,832 shares of the company'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 directly owned 307,240 shares in the company, valued at $15,362,000. This represents a 21.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas M. Scrivener sold 50,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $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. Corporate insiders own 0.30% of the company's stock.

Bank of America Company 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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