Bank of America Corporation $BAC Shares Bought by Trust Co. of Oklahoma

Trust Co. of Oklahoma lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 127.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,409 shares of the financial services provider’s stock after buying an additional 22,654 shares during the quarter. Trust Co. of Oklahoma’s holdings in Bank of America were worth $2,199,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Legal & General Group Plc bought a new position in Bank of America in the second quarter valued at approximately $2,571,060,000. Deutsche Bank AG bought a new stake in shares of Bank of America during the 2nd quarter valued at $2,359,172,000. Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the 2nd quarter valued at $2,313,953,000. Amundi raised its position in shares of Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after acquiring an additional 4,721,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bank of America by 1.8% in the 1st 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. Institutional investors and hedge funds 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: Management expects at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Third-quarter net interest income rose 8% year over year to approximately $16.4 billion, while average loans increased 6% and deposits grew 2%. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management were relative bright spots. Wealth-management revenue increased 13% year over year, and the bank returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
• Positive Sentiment: Robert W. Baird upgraded BAC to “outperform” with a $62 target, while Keefe, Bruyette & Woods maintained “outperform” with a $65 target. These targets imply meaningful upside from recent trading levels.
• Neutral Sentiment: Management said it is addressing software and compliance weaknesses, including hiring roughly 1,000 contractors to patch vulnerabilities identified by Anthropic’s Mythos AI model. The added remediation work increases near-term costs but could reduce operational risk over time. Bank of America hired 1,000 contractors to patch software flaws
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Reported EPS was $0.91, down from $1.04 a year earlier, after a $1.2 billion non-tax-deductible regulatory charge. Bank of America profit hurt by $1.2 billion fine
• Negative Sentiment: Regulators cited failures to report more than $5 billion in suspicious transactions and sanctions-compliance violations, producing penalties exceeding $1.2 billion and raising concerns about lingering compliance costs and management oversight.
• Negative Sentiment: Fixed-income trading revenue fell 17%, investment-banking activity weakened, and expenses grew faster than revenue. TD Cowen cut its target to $56 and Morgan Stanley reduced its target to $61, reflecting continued earnings and cost concerns.

Bank of America Trading Up 1.1%

Shares of BAC traded up $0.59 during trading hours on Thursday, reaching $51.98. The stock had a trading volume of 20,899,202 shares, compared to its average volume of 37,507,770. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The firm has a 50-day moving average of $59.51 and a 200 day moving average of $56.69. The company has a market cap of $363.48 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The business had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Corporation will post 4.60 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.32 per share. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is 29.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BAC shares. HSBC assumed coverage on Bank of America in a research report on Monday, September 28th. They issued a “buy” rating and a $65.00 price target on the stock. Wells Fargo & Company dropped their price objective on Bank of America from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday. Barclays cut their target price on Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial reduced their target price on Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada decreased their target price on Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday. Twenty analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.78.

Bank of America Profile

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.