67,478 Bank of America Corporation $BAC Shares Purchased by Davis Rea LTD.

Davis Rea LTD. grew its position in Bank of America Corporation (NYSE:BAC) by 27.2% during the third quarter, HoldingsChannel.com reports. The firm owned 315,849 shares of the financial services provider’s stock after buying an additional 67,478 shares during the quarter. Bank of America accounts for approximately 4.9% of Davis Rea LTD.’s investment portfolio, making the stock its 8th biggest holding. Davis Rea LTD.’s holdings in Bank of America were worth $17,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BAC. Total Clarity Wealth Management Inc. raised its position in Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after buying an additional 168 shares during the last quarter. Orca Wealth Management LLC boosted its position in Bank of America by 0.5% during the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after acquiring an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its position in Bank of America by 4.0% during the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 184 shares in the last quarter. Finally, GatePass Capital LLC grew its stake in shares of Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 190 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BAC. JPMorgan Chase & Co. lowered their price objective on shares of Bank of America from $68.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Royal Bank Of Canada increased their target price on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Bank of America in a research report on Tuesday, September 15th. Truist Financial lowered their price target on shares of Bank of America from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Bank of America Stock Down 1.0%

BAC stock traded down $0.53 during mid-day trading on Tuesday, reaching $54.05. The company had a trading volume of 44,924,449 shares, compared to its average volume of 37,191,953. The company has a market capitalization of $377.93 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The stock has a 50 day simple moving average of $59.75 and a two-hundred day simple moving average of $56.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. As a group, equities analysts predict that Bank of America Corporation will post 4.61 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.4%. Bank of America’s dividend payout ratio is presently 29.36%.

Key Bank of America News

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

About Bank of America

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.