Diversify Wealth Management LLC Increases Stock Holdings in Bank of America Corporation $BAC

Key Points

• Diversify Wealth Management LLC raised its stake in Bank of America by 53.7% in Q4, now owning 182,072 shares valued at about $9.93 million.
• Insiders have been net sellers recently—a total of 354,588 shares (~$17.8M) sold in the last three months, including 50,000 by Thomas M. Scrivener and 83,832 by James P. Demare, leaving insider ownership at 0.27%.
• Bank of America beat expectations with $1.11 EPS (vs. $1.00 est.) and $30.27B revenue, and analysts maintain a consensus "Moderate Buy" rating with a target price of $61.06.

Diversify Wealth Management LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC) by 53.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 182,072 shares of the financial services provider's stock after buying an additional 63,614 shares during the quarter. Diversify Wealth Management LLC's holdings in Bank of America were worth $9,930,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BAC. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the 3rd quarter valued at about $27,000. Legacy Bridge LLC lifted its stake in shares of Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after acquiring an additional 330 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Bank of America in the third quarter worth about $30,000. Collier Financial acquired a new position in shares of Bank of America in the third quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Bank of America in the third quarter worth about $31,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Thomas M. Scrivener sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was 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. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Demare sold 83,832 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the transaction, the insider directly owned 307,240 shares of the company's stock, valued at $15,362,000. This trade represents a 21.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 354,588 shares of company stock valued at $17,814,296 over the last three months. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BAC. JPMorgan Chase & Co. cut their price target on Bank of America from $61.50 to $57.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods boosted their price target on Bank of America from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. HSBC boosted their price target on Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. Finally, Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.06.

Trending Headlines about Bank of America

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

• Positive Sentiment: BofA received an analyst boost when UBS raised its price target on BAC, signaling upside from the Street and supporting investor confidence. UBS Raises PT
• Positive Sentiment: Bank of America is expanding its role in defense financing and supporting domestic drone/robotics production via its GovCon unit — this can drive new lending and advisory fees as federal defense demand grows. Defense Financing
• Positive Sentiment: Acted as lead lender on a $1.8 billion refinance for 9 West 57th Street — a sizable commercial real-estate financing that generates loan revenue and reinforces BofA’s commercial banking pipeline. 9 West 57th Refinance
• Neutral Sentiment: Shareholder votes at the 2026 annual meeting kept leadership and governance largely unchanged — reduces near-term corporate governance uncertainty but is unlikely to move the stock materially. Shareholder Vote
• Neutral Sentiment: BofA-hosted conferences and client events (e.g., Industrials conference participation by clients, Breakthrough Technology Dialogue) underline franchise strength and deal flow but are informational rather than immediate stock drivers. Conference Participation
• Negative Sentiment: Insider selling: Geoffrey S. Greener sold ~126,756 shares (~$6.7M) in early May, trimming his stake — such high‑profile insider sales can sap sentiment even if not tied to company fundamentals. Insider Sale
• Negative Sentiment: Related-party selling pressure: reports indicate Berkshire Hathaway’s successor Greg Abel continued to trim BAC for a seventh consecutive quarter — fueling narrative of reduced long‑term buying from a major holder. Greg Abel Sells

Bank of America Stock Down 1.7%

NYSE:BAC opened at $52.71 on Friday. The firm has a market capitalization of $374.04 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The stock has a 50 day moving average of $50.44 and a 200-day moving average of $52.51. Bank of America Corporation has a 52 week low of $41.25 and a 52 week high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. Analysts predict that Bank of America Corporation will post 4.46 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio is 27.72%.

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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.