Quilter Plc Sells 28,733 Shares of Bank of America Corporation $BAC

Quilter Plc lowered its stake in Bank of America Corporation (NYSE:BAC) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,516,556 shares of the financial services provider’s stock after selling 28,733 shares during the quarter. Bank of America comprises approximately 1.4% of Quilter Plc’s holdings, making the stock its 25th largest holding. Quilter Plc’s holdings in Bank of America were worth $83,411,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the 3rd quarter worth about $27,000. Steph & Co. boosted its stake in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 379 shares during the last quarter. Marquette Asset Management LLC acquired a new position in Bank of America during the third quarter valued at approximately $30,000. Collier Financial bought a new stake in Bank of America in the third quarter valued at approximately $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Bank of America in the third quarter worth $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BAC. Keefe, Bruyette & Woods reduced their price target on shares of Bank of America from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Truist Financial dropped their price objective on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Oppenheimer decreased their target price on Bank of America from $63.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada increased their price target on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Twenty-three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.54.

Insider Transactions at Bank of America

In related news, insider James P. Demare sold 83,832 shares of the 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 completion of the transaction, the insider owned 307,240 shares in the company, valued at approximately $15,362,000. This represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas M. Scrivener sold 50,000 shares of Bank of America stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $49.82, for a total transaction of $2,491,000.00. Following the completion of the sale, the insider owned 227,973 shares in the company, valued at $11,357,614.86. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,832 shares of company stock valued at $11,094,960 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Key Bank of America News

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

• Positive Sentiment: HSBC upgraded BAC to a “Buy,” a near?term lift as a respected shop adding conviction to the stock amid broader bank?sector momentum. HSBC Upgrades Bank of America
• Positive Sentiment: Barclays reiterated its Buy on BAC, reinforcing analyst support and likely helping limit downside from other negative headlines. Barclays Sticks to Its Buy Rating
• Positive Sentiment: Analysis highlights BAC’s robust capital?return plan (record earnings, $40B buyback and steady dividend hikes) — a structural tailwind that supports the stock’s valuation and investor demand. Capital Return Strategy
• Neutral Sentiment: Preliminary approval of a $72.5M settlement with Epstein accusers removes some legal uncertainty but represents an immediate cash cost — mixed for near?term EPS but clears an overhang. Settlement Approval
• Neutral Sentiment: Bank of America disclosed a 3.01% voting stake in Qiagen — a portfolio/strategic holding disclosure that is unlikely to move BAC’s core earnings but is notable for asset?management transparency. Qiagen Voting Stake
• Neutral Sentiment: Bank of America data on card?spending trends (furniture/department stores down, gas station spending up) signals shifting consumer patterns that will shape fee and interchange trends — watch consumer credit and transaction volumes. Card Spending Trends
• Negative Sentiment: Morgan Stanley trimmed its BAC price target to $61 — a downward revision that can pressure sentiment even if the rating remains constructive. Morgan Stanley Cuts Price Target
• Negative Sentiment: A foiled bomb plot targeting a Bank of America Paris branch and subsequent remote?work measures have drawn attention to the bank’s geopolitical and physical?security exposure; while arrests and pre?trial detentions reduce immediate threat, the headlines raise operational?risk sensitivity. Foiled Paris Bomb Plot and Remote?Work Shift

Bank of America Stock Performance

BAC opened at $49.37 on Monday. The business’s 50-day moving average price is $50.68 and its two-hundred day moving average price is $52.22. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. The company has a market capitalization of $352.75 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same period last year, the company earned $0.82 earnings per share. Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.

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.