XML Financial LLC Sells 30,715 Shares of Bank of America Corporation $BAC

Key Points

• XML Financial LLC reduced its Bank of America stake by 13.1% in the fourth quarter, selling 30,715 shares and leaving it with 204,423 shares valued at about $11.24 million.
• Bank of America reported solid quarterly results, with earnings of $1.11 per share and revenue of $30.27 billion, both above analyst expectations. Revenue rose 10.7% year over year.
• Analysts remain largely constructive on BAC, with 22 Buy ratings and a consensus “Moderate Buy” view; the average price target stands at $61.06, above the recent share price near $53.87.

XML Financial LLC decreased its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,423 shares of the financial services provider's stock after selling 30,715 shares during the quarter. Bank of America comprises about 0.9% of XML Financial LLC's investment portfolio, making the stock its 28th biggest holding. XML Financial LLC's holdings in Bank of America were worth $11,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Nemes Rush Group LLC grew its stake in shares of Bank of America by 17.9% in the fourth quarter. Nemes Rush Group LLC now owns 4,257 shares of the financial services provider's stock worth $234,000 after acquiring an additional 645 shares during the last quarter. 111 Capital purchased a new position in shares of Bank of America in the 4th quarter worth about $1,350,000. Lowe Brockenbrough & Co. Inc. boosted its stake in Bank of America by 2.7% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 24,411 shares of the financial services provider's stock worth $1,343,000 after purchasing an additional 653 shares in the last quarter. MCF Advisors LLC grew its position in Bank of America by 83.1% during the 4th quarter. MCF Advisors LLC now owns 55,764 shares of the financial services provider's stock valued at $3,067,000 after purchasing an additional 25,301 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its position in Bank of America by 6.0% during the 4th quarter. First Command Advisory Services Inc. now owns 19,105 shares of the financial services provider's stock valued at $1,051,000 after purchasing an additional 1,084 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America News Summary

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

• Positive Sentiment: Bank of America announced a new cross-border real-time payments solution that will let corporate and institutional clients send and receive funds instantly via SWIFT or CashPro, a potentially meaningful growth driver for its global payments franchise. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Merrill, Bank of America’s wealth management unit, earned strong recognition across three 2026 Barron’s lists, reinforcing the quality of its advisory business and brand strength in wealth management. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron's Lists
• Positive Sentiment: Multiple articles highlighted bullish views on BAC, including references to broad analyst optimism and BAC being viewed as a low-cost stock with upside potential, which can help support investor confidence. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Neutral Sentiment: Bank of America and other major U.S. banks are moving ahead with a shared tokenized deposit network, a strategic industry initiative that is important long term but not an immediate earnings catalyst. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Bank of America also disclosed a 2.84% voting interest in QIAGEN, but the filing appears to be a routine ownership update rather than a major strategic shift for BAC. Bank of America Reports 2.84% Voting Interest in QIAGEN
• Negative Sentiment: Jim Cramer commented that something “not that great” may be happening at Bank of America, a bearish soundbite that could weigh on sentiment even though it was not tied to a specific fundamental warning. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Insider Buying and Selling at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 170,184 shares in the company, valued at approximately $7,988,436.96. This represents a 35.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Bank of America Price Performance

BAC opened at $53.87 on Friday. The company's 50-day simple moving average is $51.63 and its two-hundred day simple moving average is $52.30. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $382.27 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.91 and a beta of 1.18. Bank of America Corporation has a 52-week low of $43.66 and a 52-week 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, topping analysts' consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analyst estimates of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, analysts predict that Bank of America Corporation will post 4.45 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America's payout ratio is currently 27.72%.

Analyst Ratings Changes

Several brokerages have issued reports on BAC. The Goldman Sachs Group lifted their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Autonomous Res cut their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Jefferies Financial Group raised their price target on shares of Bank of America from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Finally, Argus increased their target price on Bank of America from $59.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Twenty-two 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 has a consensus rating of "Moderate Buy" and a consensus price target of $61.06.

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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