Insider Selling: Bank of America (NYSE:BAC) Insider Sells 50,000 Shares of Stock

Key Points

• Insider sale: Bank of America insider Thomas Scrivener sold 50,000 shares on March 5 at an average price of $49.82 (about $2.49M), cutting his stake by 17.99%, as disclosed in an SEC Form 4.
• Dividend announced: BofA declared a $0.28 quarterly dividend (annualized $1.12) with record and ex-dividend dates on March 6 and payment on March 27, implying a yield of about 2.3% and a payout ratio near 29%.
• Stock and analyst snapshot: BAC traded down to $48.68 on volume ~47M within a 52-week range of $33.06–$57.55; analysts have a consensus "Moderate Buy" with an average target of $60.30.

Bank of America Corporation (NYSE:BAC) insider Thomas Scrivener sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $49.82, for a total value of $2,491,000.00. Following the completion of the sale, the insider directly owned 227,973 shares in the company, valued at approximately $11,357,614.86. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Bank of America Stock Performance

BAC traded down $1.13 during trading on Friday, reaching $48.68. 46,995,822 shares of the company were exchanged, compared to its average volume of 42,021,914. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $53.42 and a 200 day moving average of $52.48. The stock has a market cap of $349.36 billion, a P/E ratio of 12.71, a PEG ratio of 1.23 and a beta of 1.28.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of America Corporation will post 3.7 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, March 27th. Shareholders of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.3%. Bank of America's dividend payout ratio is 29.24%.

Institutional Investors Weigh In On Bank of America

Several hedge funds and other institutional investors have recently bought and sold shares of BAC. Permanent Capital Management LP acquired a new stake in Bank of America during the 3rd quarter worth about $649,000. Meridian Wealth Management LLC lifted its position in shares of 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. lifted its position in shares of Bank of America by 15.9% in 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 in the last quarter. World Equity Group Inc. boosted 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 period. Finally, AdvisorShares Investments LLC purchased a new position in Bank of America during the third quarter valued at approximately $482,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BAC. Keefe, Bruyette & Woods reduced their price objective on Bank of America from $64.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, January 15th. Wall Street Zen upgraded Bank of America from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Barclays raised their price target on Bank of America from $59.00 to $71.00 and gave the company an "overweight" rating in a report on Monday, January 5th. TD Cowen reduced their price objective on shares of Bank of America from $66.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, January 15th. Finally, Argus increased their target price on shares of Bank of America from $58.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, January 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.30.

Key Bank of America News

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

• Positive Sentiment: Analyst buy thesis: BAC is described as “slipping back into the buy zone” — trading at ~12.5x trailing earnings (below its 10-year average) with a multiyear tailwind from net interest margin expansion as low‑yielding assets reprice, supporting operating leverage and returns. Bank Of America: Slipping Back Into The 'Buy' Zone
• Positive Sentiment: Dividend & income angle: Coverage argues BAC remains attractive for dividend-seeking portfolios — an important point for income investors given the bank’s payout and current yield profile. Bank of America (BAC) Could Be a Great Choice
• Positive Sentiment: Wealth-management product expansion: Bank of America Private Bank launched an Art Consulting service — a niche revenue/relationship initiative that modestly diversifies fee income and deepens HNW client ties. Bank Of America Art Consulting Adds Dimension To Wealth And Valuation Story
• Neutral Sentiment: Underwriting / investment-banking activity: BofA Securities is lead in SM Energy’s $1bn senior notes offering — a reminder of recurring fee revenue from capital markets, but not large enough alone to swing BAC’s stock. Vinson & Elkins Advises Initial Purchasers on SM Energy’s $1 Billion Senior Notes Offering
• Neutral Sentiment: Shareholder / holdings disclosure: Galapagos filed transparency notices showing Bank of America entities crossed a reporting threshold — operational detail about holdings rather than a direct signal about BAC’s performance. Galapagos Receives Transparency Notifications from Bank of America
• Negative Sentiment: Geopolitical / market risk: BofA strategists warn that a prolonged U.S.–Iran war could push investors out of Europe and Japan into oil and the dollar — a macro shock that raises volatility and can hurt banks via risk‑off flows, trading losses, or credit stress. BofA’s Hartnett Sees European, Japanese Stocks at Risk From War
• Negative Sentiment: Market sentiment cooling: Coverage noting that recent BAC share momentum has cooled and valuation dynamics are being reassessed — this sort of reassessment can trigger short‑term selling even if fundamentals remain intact. Assessing Bank Of America (BAC) Valuation As Recent Share Momentum Cools
• Negative Sentiment: Sector rotation commentary: Bank of America research and market pieces (and consequent media coverage) around selling oil stocks and shifting sector preferences signal rotation and positioning changes that can temporarily depress financial shares amid heightened commodity and FX volatility. Bank of America (BAC) Is Telling Investors to Sell Oil Stocks as Crude Prices Soar. Here’s Why

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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