Diligent Investors LLC Sells 24,971 Shares of Bank of America Corporation $BAC

Diligent Investors LLC reduced its holdings in shares of Bank of America Corporation (NYSE:BAC) by 40.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,066 shares of the financial services provider’s stock after selling 24,971 shares during the period. Diligent Investors LLC’s holdings in Bank of America were worth $1,912,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BAC. von Borstel & Associates Inc. bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $1,245,000. NorthRock Partners LLC grew its stake in shares of Bank of America by 18.6% in the 3rd quarter. NorthRock Partners LLC now owns 132,855 shares of the financial services provider’s stock worth $6,854,000 after buying an additional 20,852 shares during the last quarter. Prudential PLC increased its position in Bank of America by 9.9% during the 3rd quarter. Prudential PLC now owns 704,356 shares of the financial services provider’s stock valued at $36,338,000 after buying an additional 63,197 shares in the last quarter. Stieven Capital Advisors L.P. raised its stake in Bank of America by 43.6% during the third quarter. Stieven Capital Advisors L.P. now owns 148,637 shares of the financial services provider’s stock valued at $7,668,000 after buying an additional 45,100 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Bank of America by 7.6% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 59,693 shares of the financial services provider’s stock valued at $3,080,000 after buying an additional 4,207 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HSBC increased their target price on Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Keefe, Bruyette & Woods dropped 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 note on Thursday, January 15th. Morgan Stanley cut their price objective on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Erste Group Bank lowered shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Insider Transactions at Bank of America

In other news, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the sale, the insider directly owned 307,240 shares in the company, valued at $15,362,000. The trade was a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bernard A. Mensah sold 94,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. The trade was a 35.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,832 shares of company stock worth $11,094,960 over the last three months. 0.30% of the stock is currently owned by company insiders.

Bank of America Stock Down 0.9%

BAC stock opened at $46.72 on Friday. The stock has a market capitalization of $335.32 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.15 and a beta of 1.28. 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 Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The business has a fifty day moving average price of $52.52 and a 200-day moving average price of $52.45.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period last year, the firm posted $0.82 earnings per share. Bank of America’s revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Wall Street remains broadly constructive on BAC with multiple buy/outperform ratings and a median price target near $62 — a reminder of upside potential if macro conditions stabilize. Bank of America Receives Average Recommendation of “Moderate Buy”
• Positive Sentiment: Brand and community initiatives (e.g., the Bank of America Chicago Marathon) and ongoing product partnerships support franchise value and client engagement over the long term. 2025 Bank of America Chicago Marathon Pumps Record $756 Million into Chicago Economy
• Neutral Sentiment: The Board announced scheduled preferred-stock dividend payments for April/May — routine cash flows for preferred holders that don’t materially change common-share economics. Bank of America Declares Preferred Stock Dividends Payable in April and May 2026
• Neutral Sentiment: New product/partnership news such as the Zelle DAF disbursement capability is strategically positive but unlikely to move the stock near-term; it’s an execution/UX improvement more relevant to retail client metrics. Zelle® and Bank of America Partner to Accelerate Delivery of Charitable Donations to Nonprofits
• Negative Sentiment: Bank of America strategist Michael Hartnett warned that market behavior looks “ominously close” to 2008, citing oil spikes and private-credit concerns — comments that can amplify risk-off flows into banks and hit sentiment across the sector. Stock Market Behavior is ‘Ominously Close’ to 2008, Warns BofA’s Hartnett
• Negative Sentiment: High-profile selling: reports show Berkshire (and Buffett-related filings) trimmed its BAC stake substantially, and headline coverage of Buffett selling roughly half his position has created fresh negative pressure and media attention. Large shareholder exits weigh on short-term sentiment. Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock
• Negative Sentiment: Sector-wide pressure from renewed rate volatility, heavy Treasury issuance and lingering regulatory/capital buffer concerns has driven a bank selloff; BAC’s sensitivity to net interest income assumptions and recent insider/institutional sales magnify downside when investors rotate out of financials. Bank of America falls as rate volatility and sector-wide risk-off sentiment pressure bank shares

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.