Bank of America Corporation $BAC Holdings Decreased by Edgar Lomax Co. VA

Edgar Lomax Co. VA lowered its stake in Bank of America Corporation (NYSE:BAC) by 22.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 418,375 shares of the financial services provider’s stock after selling 122,150 shares during the quarter. Bank of America comprises about 1.7% of Edgar Lomax Co. VA’s holdings, making the stock its 25th biggest position. Edgar Lomax Co. VA’s holdings in Bank of America were worth $21,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Bank of America by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after acquiring an additional 403,652 shares during the period. Norges Bank acquired a new stake in Bank of America in the second quarter worth approximately $5,091,641,000. Fisher Asset Management LLC boosted its stake in Bank of America by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 52,677,988 shares of the financial services provider’s stock valued at $2,717,657,000 after purchasing an additional 1,272,315 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bank of America by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 30,648,910 shares of the financial services provider’s stock valued at $1,581,350,000 after purchasing an additional 640,462 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Bank of America by 124.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after purchasing an additional 9,782,208 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America Private Bank launched an Art Consulting service to help wealth clients treat art as an investable asset, which can deepen client relationships and boost advisory/relationship fee income. Read More.
• Positive Sentiment: BofA Securities acted as lead underwriter/advisor on SM Energy’s $1B senior notes offering, highlighting ongoing investment-banking deal flow that supports non‑interest fee revenue. Read More.
• Neutral Sentiment: Bank of America disclosed a stake crossing in Galapagos under transparency rules; this is a regulatory filing about holdings rather than a business development for BAC itself. Read More.
• Neutral Sentiment: VantageScore’s CEO will appear at BofA’s upcoming Information & Business Services conference — evidence BofA continues to host investor events that support its securities business but with limited direct impact on the bank’s fundamentals. Read More.
• Neutral Sentiment: Coverage and analyst activity mentioning BAC (Zacks trending piece) indicate retail/investor interest in the stock; attention can drive volume but is not a clear directional catalyst. Read More.
• Negative Sentiment: Analysis flagging that BAC’s recent share momentum is cooling raises near-term valuation pressure and may be a direct reason shares are trading lower today. Read More.
• Negative Sentiment: Bank of America warns broader market risk from the U.S.-Iran war (e.g., collapsed Strait of Hormuz volumes) could spark volatility and downside for banks via economic and oil‑price shocks. That macro risk is a headwind for financial stocks including BAC. Read More.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BAC shares. Royal Bank Of Canada raised their target price on Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Argus boosted their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. raised 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. Finally, CICC Research initiated coverage on shares of Bank of America in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price target on the stock. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Stock Performance

Shares of BAC opened at $49.81 on Friday. The company has a 50-day moving average of $53.42 and a two-hundred day moving average of $52.48. The stock has a market cap of $357.47 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.23 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 one year low of $33.06 and a one year high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results 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 net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is 29.24%.

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.