Geoffrey Greener Sells 126,756 Shares of Bank of America (NYSE:BAC) Stock

Key Points

• Insider sale: Geoffrey Greener sold 126,756 Bank of America shares on May 5 at an average price of $53.01 for about $6.72M, trimming his position by 8.45% to 1,373,397 shares (≈$72.8M), as disclosed on an SEC Form 4.
• Company fundamentals and payouts: BAC beat Q1 expectations (EPS $1.11 vs. $1.00) with $30.27B revenue, trades near $52.71 with a $374B market cap, pays a $0.28 quarterly dividend (2.1% yield), and holds a consensus Moderate Buy rating with an average target of $61.06.

Bank of America Corporation (NYSE:BAC) insider Geoffrey Greener sold 126,756 shares of the firm'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. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Bank of America Stock Performance

Shares of Bank of America stock traded down $0.89 during midday trading on Thursday, hitting $52.71. The company had a trading volume of 28,670,859 shares, compared to its average volume of 39,663,508. The business's 50 day simple moving average is $50.39 and its two-hundred day simple moving average is $52.50. The stock has a market cap of $374.04 billion, a PE ratio of 13.05, a P/E/G ratio of 0.90 and a beta of 1.21. 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 Corporation has a 1-year low of $41.25 and a 1-year high of $57.55.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. The business had revenue of $30.27 billion for 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%. Bank of America's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Bank of America Corporation will post 4.46 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio (DPR) is 27.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DecisionMap Wealth Management LLC boosted its holdings in Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 182 shares during the period. Money Concepts Capital Corp boosted its holdings in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 182 shares during the period. Holistic Financial Partners boosted its holdings in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 183 shares during the period. Operose Advisors LLC boosted its holdings in Bank of America by 0.9% during the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after acquiring an additional 185 shares during the period. Finally, Asahi Life Asset Management CO. LTD. boosted its holdings in Bank of America by 1.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock valued at $1,092,000 after acquiring an additional 187 shares during the period. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BAC shares. Autonomous Res reduced their target price on Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Robert W. Baird raised their target price on Bank of America from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Erste Group Bank cut Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, UBS Group raised their target price on Bank of America from $62.00 to $63.00 in a research report on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America is expanding its Government Contracting (GovCon) financing role to support domestic drone and robotics manufacturing — a potential growth area for lending, fees and longer-term government-related financing relationships. Bank Of America Expands Defense Financing Role With Drone Manufacturing Push
• Positive Sentiment: UBS raised its price target on BAC to $63, signaling analyst confidence that shares have material upside from current levels — this can support buying interest from institutional investors. UBS Adjusts Bank Of America Price Target To $63 From $62
• Positive Sentiment: Recent fundamentals remain supportive: BAC reported a quarterly earnings beat (Q1 EPS and revenue exceeded consensus), showing improving revenue and net margin trends that underpin net interest income and fee opportunities. (Company Q1 results)
• Neutral Sentiment: Bank of America research continues active analyst coverage and conference presence — examples include BofA raising price targets on other names (e.g., Western Digital) and hosting industry dialogues. These activities are positive for the investment-banking/research franchise but are indirect for BAC’s stock performance. BofA Lifts PT on Western Digital Corporation (WDC) Following Q3 Results
• Neutral Sentiment: Shareholders voted to keep the current leadership and governance structure at the annual meeting — removes a potential governance overhang but is status quo. Bank of America Shareholders Back Leadership and Governance Status Quo
• Negative Sentiment: Berkshire-related selling: Greg Abel (Warren Buffett’s successor at Berkshire) appears to have sold Bank of America shares for the seventh consecutive quarter — insider/affiliate selling can create negative sentiment and prompt questions about large shareholder positioning. Greg Abel Appears To Have Sold Shares Of Bank Of America For A 7th Consecutive Quarter

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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