World Equity Group Inc. Sells 13,784 Shares of Bank of America Corporation $BAC

Key Points

• World Equity Group Inc. reduced its Bank of America stake by 18.7% in the first quarter, selling 13,784 shares and leaving it with 59,864 shares valued at about $2.92 million.
• Bank of America recently reported better-than-expected quarterly earnings, with EPS of $1.21 topping estimates, while revenue rose 19.6% year over year and trading/deal activity remained strong.
• Analysts remain upbeat on BAC, with multiple firms raising price targets and the stock carrying a consensus Moderate Buy rating with an average target of $63.77.

World Equity Group Inc. cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,864 shares of the financial services provider's stock after selling 13,784 shares during the period. World Equity Group Inc.'s holdings in Bank of America were worth $2,918,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter worth $26,000. Wiser Advisor Group LLC bought a new position in Bank of America in the third quarter valued at about $27,000. Legacy Bridge LLC boosted its stake in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. CrossGen Wealth LLC acquired a new stake in shares of Bank of America during the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America during the fourth quarter worth about $32,000. 70.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Analyst Ratings Changes

Several research analysts have recently issued reports on BAC shares. Evercore set a $63.00 price objective on Bank of America and gave the company an "outperform" rating in a research note on Monday, July 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research report on Friday, April 24th. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Bank of America in a report on Tuesday. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Morgan Stanley raised their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and an average price target of $63.77.

Bank of America Trading Down 0.5%

Shares of BAC stock opened at $61.18 on Friday. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.12. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The stock has a market cap of $434.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.17. The stock has a 50-day moving average of $55.30 and a 200-day moving average of $53.15.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The firm's quarterly revenue was up 19.6% on a year-over-year basis. On average, equities research analysts forecast that Bank of America Corporation will post 4.64 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.8%. Bank of America's dividend payout ratio (DPR) is presently 25.69%.

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.

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