Cercano Management LLC Has $11.41 Million Holdings in Bank of America Corporation $BAC

Cercano Management LLC trimmed its position in Bank of America Corporation (NYSE:BAC) by 43.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,184 shares of the financial services provider’s stock after selling 172,693 shares during the period. Cercano Management LLC’s holdings in Bank of America were worth $11,411,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Permanent Capital Management LP bought a new stake in Bank of America during the 3rd quarter valued at $649,000. Meridian Wealth Management LLC grew its position in 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 acquiring an additional 20,591 shares in the last quarter. Lockheed Martin Investment Management Co. increased its position in shares of Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock valued at $32,482,000 after purchasing an additional 86,290 shares during the last quarter. World Equity Group Inc. raised its stake 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 acquiring an additional 13,119 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new stake in Bank of America in the third quarter worth $482,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.2%

Bank of America stock opened at $52.67 on Wednesday. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The business’s 50-day moving average price is $54.38 and its 200 day moving average price is $52.16. The firm has a market cap of $384.62 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter last year, the firm posted $0.82 EPS. The business’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company 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. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 29.24%.

Analyst Ratings Changes

A number of research analysts have commented on the company. CICC Research assumed coverage on Bank of America in a research report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price target for the company. Evercore set a $59.00 target price on shares of Bank of America in a report on Thursday, January 15th. Daiwa Securities Group cut their price target on Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Robert W. Baird upped their price target on Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Piper Sandler increased their price target on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s research surveys on AI spending, corporate capex and dollar sentiment are getting broad coverage, reinforcing BAC’s role as a market influencer — this visibility can support trading and fee businesses tied to research and advisory. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Positive Sentiment: CEO Brian Moynihan’s public comments downplaying AI-driven job losses position management as constructive on technology adoption — that can reassure investors focused on execution and the bank’s technology strategy. Brian Moynihan isn’t so worried about an AI jobs bloodbath
• Neutral Sentiment: Bank of America disclosed it crossed a >5% ownership threshold in biotech Galapagos NV — a notable portfolio move that may reflect the firm’s principal-investment activity but isn’t directly tied to core banking earnings. Bank of America Lifts Stake in Galapagos Above 5% Transparency Threshold
• Neutral Sentiment: Analytical coverage of BAC valuation and mixed momentum may keep the stock range-bound — analysts and outlets are reassessing multiples even after recent earnings beats. Assessing Bank Of America (BAC) Valuation As Recent Returns Show Mixed Momentum
• Negative Sentiment: Warren Buffett’s Berkshire Hathaway trimmed its stake in Bank of America in the latest quarter — a high-profile reduction can sap confidence among some investors and put modest selling pressure on the shares. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position
• Negative Sentiment: Coverage that big-bank CEOs (including BAC’s) received pay increases after 2025 performance may raise governance scrutiny among investors focused on compensation and returns. Big Bank CEOs received serious pay bumps in 2025 Bank of America CEO Brian Moynihan sees compensation rise

Bank of America 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.