EL7.AI
StocksUpdated•Originally published 4 April 2026•Updated 5 April 2026•
1 min read

Institutional and Insider Selling Hits Bristol Myers Squibb and Bank of America

Key Facts

1Trust Co. of Toledo NA OH sold 55,523 shares of Bristol Myers Squibb, reducing its stake by 35.0%.
2EVP David V. Elkins sold 30,000 shares of his position for $1.85 million.
3Bristol Myers Squibb recently missed EPS estimates and maintains a consensus 'Hold' rating.

Bristol Myers Squibb (BMY) and Bank of America (BAC) are witnessing significant institutional and insider selling, signaling a cautious shift in market sentiment. At BMY, Trust Co. of Toledo NA OH slashed its position by 35%, while Executive VP David Elkins sold shares worth $1.85 million following a recent earnings miss. Similarly, Myriad Asset Management US LP reduced its stake in Bank of America by 72% during the fourth quarter, offloading 26,724 shares. BAC insiders have also divested shares totaling over $11 million, although institutional investors still maintain a substantial 70.71% ownership stake. Despite these sell-offs, analyst sentiment remains divided; BMY holds a consensus 'Hold' rating, whereas BAC maintains a 'Moderate Buy' with an average price target of $59.54. These combined movements highlight varying levels of confidence across the healthcare and financial sectors amid evolving market conditions.