Bank of America Corporation $BAC Stock Holdings Lowered by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 31.6% in the 3rd quarter, Holdings Channel reports. The fund owned 182,730 shares of the financial services provider’s stock after selling 84,230 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Bank of America were worth $9,946,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in shares of Bank of America during the 2nd quarter valued at about $2,571,060,000. Deutsche Bank AG bought a new stake in shares of Bank of America in the second quarter worth approximately $2,359,172,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America during the second quarter valued at approximately $2,313,953,000. Amundi raised its holdings in shares of Bank of America by 12.5% during the first quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Bank of America by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock valued at $1,517,599,000 after purchasing an additional 561,413 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a report on Friday, October 30th. Jefferies Financial Group decreased their target price on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Citigroup lowered their price target on Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, October 15th. Truist Financial dropped their price target on Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, Argus set a $70.00 price objective on Bank of America in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $62.48.

Key Stories Impacting Bank of America

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

• Neutral Sentiment: Bank of America’s inflation forecast—monthly headline and core CPI increases of about 0.2%—could reinforce expectations of a December Federal Reserve rate hike. The effect on BAC is uncertain, as higher rates can support lending revenue but may also weigh on borrowers and funding costs. October inflation outlook
• Neutral Sentiment: A filing may indicate Berkshire Hathaway sold more BAC shares in the third quarter, but the report describes this as a possibility, not a confirmed sale. If verified, selling could add pressure to the stock. Berkshire Hathaway holdings report
• Negative Sentiment: Several law firms publicized a securities class action against Bank of America for investors who bought shares from August 1, 2025, through October 13, 2026. The suit alleges securities-law violations; December 15, 2026, is the deadline to seek a lead-plaintiff role. The allegations are not proven, but the case adds potential legal costs and uncertainty. Kaplan Fox class action notice
• Negative Sentiment: Separate coverage says Senator Elizabeth Warren is urging a DOJ criminal probe related to the bank’s anti-money-laundering and sanctions-law violations. Further investigation could increase regulatory, legal, and reputational risks. Report on regulatory scrutiny

Bank of America Stock Performance

Shares of BAC opened at $50.57 on Tuesday. The business has a 50-day simple moving average of $55.01 and a two-hundred day simple moving average of $54.88. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The stock has a market cap of $348.95 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.91 and a beta of 1.19.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The company had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s dividend payout ratio is currently 30.40%.

Bank of America Profile

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services.

The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.