Highland Capital Management LLC Cuts Stake in Bank of America Corporation $BAC

Key Points

• Highland Capital Management trimmed its stake in Bank of America by 5.1% in Q4, selling 16,010 shares and now holds 296,986 shares worth about $16.33 million (roughly 0.8% of its portfolio, the firm’s 22nd-largest position).
• Bank of America beat quarterly expectations with $1.11 EPS versus a $1.00 consensus and $30.27 billion in revenue (up 10.7% year-over-year), and announced a $0.28 quarterly dividend (annualized $1.12, ~2.1% yield; ex-dividend June 5).
• Corporate insiders sold heavily last quarter — a total of 227,832 shares worth about $11.09 million (including large sales by James P. Demare and Thomas M. Scrivener) — leaving insiders with roughly 0.27% ownership.

Highland Capital Management LLC lessened its holdings in Bank of America Corporation (NYSE:BAC) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296,986 shares of the financial services provider's stock after selling 16,010 shares during the period. Bank of America makes up approximately 0.8% of Highland Capital Management LLC's portfolio, making the stock its 22nd largest position. Highland Capital Management LLC's holdings in Bank of America were worth $16,334,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BAC. DecisionMap Wealth Management LLC lifted its holdings in shares of Bank of America by 4.7% in the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after purchasing an additional 182 shares during the last quarter. Holistic Financial Partners grew its stake in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after buying an additional 183 shares during the last quarter. Riverview Capital Advisers LLC grew its stake in Bank of America by 4.2% during the 3rd quarter. Riverview Capital Advisers LLC now owns 4,686 shares of the financial services provider's stock worth $242,000 after buying an additional 188 shares during the last quarter. Shepherd Financial Partners LLC increased its position in Bank of America by 0.3% during the third quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider's stock worth $3,110,000 after buying an additional 189 shares during the period. Finally, William B. Walkup & Associates Inc. increased its position in Bank of America by 1.4% during the third quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider's stock worth $723,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Down 1.9%

Shares of BAC stock opened at $52.24 on Tuesday. The company has a market capitalization of $373.27 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The business's 50 day moving average is $50.34 and its two-hundred day moving average is $52.47. Bank of America Corporation has a twelve month low of $40.56 and a twelve month high of $57.55.

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

Bank of America Dividend Announcement

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America strategist Michael Hartnett argues the U.S. is in a nominal “boom loop,” forecasting stronger GDP growth — a macro backdrop that would support loan growth, fee income and credit performance for large banks like BAC. Bank of America drops stunning take on the economy
• Positive Sentiment: BofA research notes U.S. midterms could push the Administration toward less aggressive tariffs — a reduction in trade friction would be constructive for corporate profits and markets, indirectly supportive of BAC’s trading and corporate banking franchise. The midterms could lead to less aggressive tariffs, BofA says
• Positive Sentiment: BofA’s investment-banking platform is active: Teva will present at the BofA Securities Health Care Conference, reflecting dealflow and event-based fee opportunities for the bank. Teva to Present at the BofA Securities Health Care Conference
• Neutral Sentiment: BAC recently reaffirmed its 2025 risk profile with no material changes disclosed — a sign of stability but not a catalyst. Bank of America Reaffirms 2025 Risk Profile
• Neutral Sentiment: UBS/Bloomberg market commentary highlights two‑sided tail risks (AI-led rallies vs. energy-driven drag) — relevant market context but not bank-specific. Traders Grapple With Two-Sided Tail Risk as Stocks Regain Highs
• Neutral Sentiment: Regulatory disclosure from Belgium: Bank of America’s direct voting interest in Umicore fell just below the 3% threshold — a routine portfolio disclosure with limited impact on BAC itself. Umicore - Transparency notification by Bank of America Corporation
• Negative Sentiment: Treasury Secretary Bessent warns of AI-powered bank account hacks — rising cyberthreat concerns could mean higher security spending and operational risk for banks, a potential negative catalyst. Bessent Warns of Threat of AI-Powered Bank Account Hacks
• Negative Sentiment: Chicago Fed’s Austan Goolsbee called recent inflation data “bad news” and urged caution on cuts — the risk of a later-than-expected easing cycle increases macro uncertainty and can weigh on bank trading revenue and investor sentiment. Fed’s Goolsbee labels recent inflation data “bad news,” urges caution

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Wells Fargo & Company raised their target price on shares of Bank of America from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Barclays upped their price target on shares of Bank of America from $59.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. CICC Research initiated coverage on shares of Bank of America in a research note on Wednesday, January 14th. They set an "outperform" rating and a $62.00 price target for the company. Finally, Evercore raised their price objective on shares of Bank of America from $55.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.02.

Insider Activity

In other news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction dated 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 sale, the insider owned 307,240 shares of the company's stock, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of the business's stock in a transaction dated 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 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. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 over the last quarter. Corporate insiders own 0.27% of the company's stock.

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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