Keybank National Association OH Grows Position in Bank of America Corporation $BAC

Key Points

• KeyBank National Association OH increased its stake in Bank of America by 1.5% to 3,905,829 shares (about $214.8M), with institutional investors owning 70.71% of the company.
• Insiders have been net sellers: James P. Demare sold 83,832 shares and Bernard A. Mensah sold 94,000 shares, with insiders offloading 227,832 shares worth about $11.1M in the past 90 days (insiders now own 0.27%).
• Fundamentals and analyst view are positive: BAC beat quarterly EPS expectations ($1.11 vs. $1.00), announced a $0.28 quarterly dividend (2.1% yield), and carries a consensus "Moderate Buy" rating with a $61.02 price target.

Keybank National Association OH raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,905,829 shares of the financial services provider's stock after purchasing an additional 59,027 shares during the period. Bank of America accounts for about 0.8% of Keybank National Association OH's investment portfolio, making the stock its 29th biggest holding. Keybank National Association OH owned approximately 0.05% of Bank of America worth $214,821,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Legacy Bridge LLC grew its stake in shares of Bank of America by 182.3% during the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 330 shares during the period. Wiser Advisor Group LLC purchased a new stake in Bank of America in the 3rd quarter worth approximately $27,000. Collier Financial bought a new stake in Bank of America during the 3rd quarter worth approximately $30,000. Marquette Asset Management LLC purchased a new position in Bank of America during the third quarter valued at approximately $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Bank of America in the third quarter worth approximately $31,000. Institutional investors own 70.71% of the company's stock.

Insider Activity

In related news, insider James P. Demare sold 83,832 shares of the 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 sale, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,832 shares of company stock valued at $11,094,960 in the last ninety days. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BAC. Wall Street Zen raised shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Erste Group Bank downgraded shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 4th. TD Cowen cut their price target on Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Truist Financial raised their price target on Bank of America from $57.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, HSBC boosted their price objective on Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research report 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.02.

Bank of America Stock Performance

Bank of America stock opened at $52.69 on Wednesday. The company's 50-day moving average price is $50.33 and its 200-day moving average price is $52.41. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.18. The company has a market cap of $376.51 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.23. Bank of America Corporation has a twelve month low of $38.81 and a twelve month high of $57.55.

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

Bank of America Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is presently 27.72%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Active ETF and index flows: coverage notes that a Russell 1000 ETF watching large-cap names helped lift BAC as traders and passive flows bid bank shares. Bank Of America Stock Climbs As Russell 1000 ETF Watches
• Positive Sentiment: Analyst estimate upgrades: Erste Group increased FY2026 and FY2027 EPS forecasts for BAC (FY26 to ~$4.45, FY27 to ~$5.06), which supports higher earnings expectations and reduces near‑term downside risk.
• Positive Sentiment: Sell‑side price‑target lift: Daiwa raised its BAC price target to $61 and kept an Overweight rating — a clear buy‑side signal that may attract additional momentum buyers. Daiwa adjusts PT on Bank of America to $61
• Positive Sentiment: Market guidance from BAC strategists: Bank of America told clients to ignore the “sell in May” axiom this year, signaling bullish seasonal guidance that can keep client flows and investor confidence tilted toward banks. Bank of America advises investors to ignore 'sell in May'
• Neutral Sentiment: Research activity highlights: BAC research raised price targets on several large-cap tech/industrial names (Western Digital, Caterpillar), showing continued advisory and trading franchise activity but only indirect benefit to BAC’s stock. Bank of America Points to Supply-Demand Imbalance Favoring Western Digital Bank of America Sees Caterpillar Benefiting
• Neutral Sentiment: Positive internal portfolio messaging: media coverage highlights that some BAC investment strategies/portfolios are having a strong year, which supports client retention but is not an immediate stock catalyst. 'Sleep like a baby' portfolio coverage
• Negative Sentiment: Short‑term volatility/valuation watch: some pieces point to recent intra‑week weakness and short‑term volatility after recent swings — a reminder risk‑averse investors may trim positions on pullbacks. A Look At Bank Of America (BAC) Valuation After Recent Share Price Swings

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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