Mendel Money Management Sells 16,952 Shares of Bank of America Corporation $BAC

Mendel Money Management cut its stake in Bank of America Corporation (NYSE:BAC) by 44.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,310 shares of the financial services provider’s stock after selling 16,952 shares during the quarter. Mendel Money Management’s holdings in Bank of America were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BAC. Quaker Wealth Management LLC boosted its holdings in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 880 shares during the last quarter. Steph & Co. lifted its position in shares of Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares in the last quarter. Collier Financial purchased a new position in Bank of America during the third quarter worth about $30,000. Marquette Asset Management LLC bought a new stake in Bank of America in the 3rd quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Bank of America in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: BofA will launch a no‑fee BofA Rewards program that expands eligibility to over 30 million checking clients, aiming to deepen deposits, card usage and wealth relationships — a clear retail growth and cross‑sell initiative. New BofA Rewards™ Program to Reach Millions More Clients with Expanded Benefits
• Positive Sentiment: Regulatory talk about easing capital rules could allow big banks (WFC, BAC, JPM) to regain mortgage market share from non‑bank lenders, potentially boosting loan volumes and fee income for BofA. The Zacks Analyst Blog Rocket, PennyMac , Wells Fargo , Bank of America and JPMorgan
• Neutral Sentiment: Bank of America Private Bank has launched an art consulting service to serve wealthy clients — a niche offering that can support loan demand and deepen relationships but is likely immaterial to near‑term revenues. BofA offers art consulting to wealthy clients as collectors increase loans demand
• Negative Sentiment: An internal memo shows BofA will commit $25 billion of its own cash to private‑credit deals — a move that can lift yield but increases direct credit and liquidity exposure amid signs of stress in parts of the private‑credit market. Markets often view large proprietary commitments as a risk to capital stability. BofA commits $25 billion to private-credit deals, memo shows
• Negative Sentiment: Reports that Warren Buffett trimmed Berkshire’s BofA position have fed negative sentiment — large, well‑known investors reducing exposure can pressure the stock even if fundamentals remain intact. Warren Buffett Sold 29% of Bank of America and Bought This Consumer Stock for 4 Consecutive Quarters
• Negative Sentiment: Coverage that BofA sharply increased a stake in a struggling crypto stock raises questions about trading/position risk and oversight — a headline that can dent investor confidence. Bank of America hikes stake in sinking crypto stock by 1,668%

Bank of America Trading Down 1.1%

Shares of BAC stock opened at $52.75 on Friday. The stock has a market capitalization of $385.24 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.30 and a beta of 1.29. The company’s fifty day simple moving average is $54.33 and its two-hundred day simple moving average is $52.17. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55. 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 announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share 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 during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

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 given a dividend of $0.28 per share. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is currently 29.24%.

Wall Street Analyst Weigh In

BAC has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Daiwa Securities Group reduced their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. CICC Research initiated coverage on Bank of America in a research report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 target price for the company. Morgan Stanley cut their price target on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. raised their price objective 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-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $60.30.

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.