Mitchell & Pahl Private Wealth LLC Has $3 Million Stake in Bank of America Corporation $BAC

Key Points

• Mitchell & Pahl Private Wealth LLC boosted its stake in Bank of America by 107.1% to 54,530 shares worth about $2.999 million, representing roughly 1.2% of its portfolio and the firm's 20th largest holding.
• Insiders have been net sellers recently — 227,832 shares were sold over the last 90 days (≈$11.09 million), including large sales by Bernard Mensah and James Demare, leaving insiders with just 0.30% ownership.
• Bank of America posted an earnings beat (EPS $0.98 vs. $0.96 consensus), has an average analyst target of $59.67 ("Moderate Buy"), pays a quarterly dividend of $0.28 (≈2.4% yield), and the stock is trading near $47 below its 50- and 200-day moving averages.

Mitchell & Pahl Private Wealth LLC raised its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 107.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,530 shares of the financial services provider's stock after acquiring an additional 28,205 shares during the period. Bank of America comprises about 1.2% of Mitchell & Pahl Private Wealth LLC's investment portfolio, making the stock its 20th largest position. Mitchell & Pahl Private Wealth LLC's holdings in Bank of America were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of BAC. Permanent Capital Management LP acquired a new stake in Bank of America during the 3rd quarter valued at $649,000. Meridian Wealth Management LLC boosted its stake in Bank of America by 54.6% in the third quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider's stock worth $3,008,000 after purchasing an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. grew its holdings in shares of Bank of America by 15.9% during the third quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider's stock worth $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. grew its holdings in shares of Bank of America by 21.8% during the third quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider's stock worth $3,779,000 after purchasing an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Bank of America in the third quarter valued at $482,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 94,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares of the company's stock, valued at approximately $7,988,436.96. This trade represents a 35.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on Wednesday, March 4th. The shares were 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 of the company's stock, valued at $15,362,000. The trade was a 21.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 227,832 shares of company stock valued at $11,094,960. 0.30% of the stock is currently owned by insiders.

Bank of America News Summary

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

• Positive Sentiment: Jefferies initiated coverage with a "Buy" and $60 price target, adding fresh bullish analyst support and suggesting ~27% upside from current levels. Read
• Positive Sentiment: Bank of America formed a Private Capital M&A group to advise private equity exits — a strategic move that can expand fee pools for the investment bank and help offset pressure in other areas. Article
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI‑Powered Meeting Journey to save advisors time and improve client workflows — a productivity/retention leaver for wealth management revenue. Press Release
• Neutral Sentiment: Corporate/social partnership: Watson Links and Bank of America expanded youth golf access — positive PR but limited near‑term revenue impact. PR
• Neutral Sentiment: Bank of America Securities continues active research coverage and reiterations on other companies (AstraZeneca, Arrowhead, Wave, etc.), highlighting the firm’s research franchise but with limited direct impact on BAC stock. Research Note
• Negative Sentiment: Oppenheimer cut its price target from $63 to $58 (still "Outperform") — the lower target reduces upside expectations and can pressure the stock. Article
• Negative Sentiment: Goldman Sachs lowered its price target to $57 earlier this week — another analyst trim hitting sentiment after recent highs. Article
• Negative Sentiment: Coverage noted Bank of America "balances" costs from an Epstein settlement while advancing AI advisor tools — ongoing legal/settlement headlines can create headline risk and investor caution. Article

Bank of America Price Performance

Shares of BAC stock opened at $47.01 on Monday. The stock has a 50-day moving average price of $51.03 and a 200 day moving average price of $52.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $335.93 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.15 and a beta of 1.28. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.02. The company 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 revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, March 6th. Bank of America's dividend payout ratio is currently 29.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAC. Piper Sandler upped their price target on shares of Bank of America from $56.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, January 15th. Truist Financial lowered their price objective on shares of Bank of America from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, January 15th. 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. Barclays upped their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Bank of America from $67.00 to $57.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and an average target price of $59.67.

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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