J.P. Marvel Investment Advisors LLC Sells 15,018 Shares of Bank of America Corporation $BAC

Key Points

• J.P. Marvel Investment Advisors trimmed its Bank of America stake by 5.1%, selling 15,018 shares and ending the quarter with 277,327 shares worth about $15.25 million (≈2.1% of its portfolio, BAC is its 14th-largest holding).
• Bank of America beat Q1 expectations with $1.11 EPS versus $1.00 expected and $30.27B in revenue, and declared a $0.28 quarterly dividend (annualized $1.12, ~2.2% yield).
• Analyst sentiment is largely positive—22 Buys vs. 5 Holds with a consensus "Moderate Buy" and average target of $60.90 (Jefferies raised its target to $65)—while insiders have sold about 227,832 shares in the past 90 days.

J.P. Marvel Investment Advisors LLC cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,327 shares of the financial services provider's stock after selling 15,018 shares during the period. Bank of America accounts for approximately 2.1% of J.P. Marvel Investment Advisors LLC's portfolio, making the stock its 14th largest holding. J.P. Marvel Investment Advisors LLC's holdings in Bank of America were worth $15,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Capital World Investors grew its holdings in shares of Bank of America by 11.0% during the third quarter. Capital World Investors now owns 144,371,118 shares of the financial services provider's stock worth $7,448,816,000 after purchasing an additional 14,275,810 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Bank of America by 2.5% during the third quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider's stock worth $2,717,657,000 after purchasing an additional 1,272,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Bank of America by 3.4% during the third quarter. Legal & General Group Plc now owns 43,924,104 shares of the financial services provider's stock worth $2,266,045,000 after purchasing an additional 1,458,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bank of America by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider's stock worth $1,581,350,000 after purchasing an additional 640,462 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $52.04 on Friday. The business has a 50 day moving average of $50.33 and a 200 day moving average of $52.33. The company has a market capitalization of $371.87 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.89 and a beta of 1.23. Bank of America Corporation has a 1-year low of $38.81 and a 1-year high of $57.55. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.11. The company had revenue of $30.27 billion during the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.Bank of America's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. On average, sell-side analysts predict that Bank of America Corporation will post 4.45 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's payout ratio is 27.72%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Board declared a quarterly cash dividend of $0.28 per share (payable June 26, 2026; record date June 5), reinforcing capital return to shareholders and supporting yield-focused demand. Bank of America Declares Second Quarter 2026 Stock Dividends
• Positive Sentiment: Jefferies reiterated a Buy and raised its price target to $65 following BofA’s strong Q1 results—an analyst endorsement that can support upside in the stock. This Is Why Jefferies Believes Bank of America Corporation (BAC) Is a Buy
• Positive Sentiment: High-profile investor endorsement persists: coverage notes that Berkshire/Warren Buffett continues to hold BAC, a long‑running vote of confidence for long-term investors. Bank of America (BAC) Remains in Warren Buffett’s Portfolio Since 2011; See Why
• Positive Sentiment: Industry context: Forbes reports that the largest U.S. banks returned record capital (dividends + buybacks) in Q1 — a favorable backdrop for BAC and investor appetite for bank equities. America's 8 Biggest Banks Are Returning Record Capital To Shareholders
• Neutral Sentiment: BofA research highlighted that a simple balanced “Sleep Like a Baby” portfolio is having a historic year — a market commentary item that showcases the bank’s analytics but is not direct company-specific news. The ‘Sleep Like a Baby’ Portfolio Is Having a Historic Year, Says BofA
• Neutral Sentiment: Macro/market note: Bloomberg coverage on collapsing volatility and renewed carry trades signals lower market stress and improved risk appetite — a backdrop that can lift banking fees/trading over time but is not an immediate company catalyst. Collapsing Volatility Turbocharges Returns in Carry Trades
• Neutral Sentiment: Corporate social/branding item: BofA awarded art conservation grants across multiple countries — positive for reputation but unlikely to move near-term stock performance. Historic Artworks Receive Funding through BofA's Art Conservation Project™
• Negative Sentiment: Bank of America materially trimmed its stake in Austrian property firm CA Immobilien Anlagen to 0.22% — a small, company-specific sell action that may signal portfolio rebalancing or risk reduction (likely immaterial to BAC’s fundamentals but interpreted negatively by some traders). Bank of America Slashes Stake in CA Immobilien Anlagen to 0.22%

Analyst Upgrades and Downgrades

BAC has been the subject of several recent analyst reports. Erste Group Bank lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. Wall Street Zen raised Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, January 27th. Oppenheimer increased their target price on Bank of America from $58.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group increased their target price on Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.90.

Insiders Place Their Bets

In other Bank of America news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The stock was 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. The trade was a 21.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction that occurred on 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 directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last ninety days. Company insiders own 0.27% of the company's stock.

About Bank of America

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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