Philip James Wealth Mangement LLC Decreases Position in Bank of America Corporation $BAC

Philip James Wealth Mangement LLC trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 8.7% in the third quarter, HoldingsChannel.com reports. The firm owned 147,914 shares of the financial services provider’s stock after selling 14,180 shares during the quarter. Bank of America comprises about 0.9% of Philip James Wealth Mangement LLC’s investment portfolio, making the stock its 27th largest holding. Philip James Wealth Mangement LLC’s holdings in Bank of America were worth $7,631,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BAC. Nova Wealth Management Inc. raised its stake in Bank of America by 75.2% during the 2nd quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Quaker Wealth Management LLC increased its position in shares of Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Bank of America in the 2nd quarter valued at about $28,000. Steph & Co. increased its position in Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares during the period. Finally, CGC Financial Services LLC increased its position in Bank of America by 585.4% during the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after buying an additional 521 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC opened at $55.81 on Friday. The stock has a market capitalization of $407.52 billion, a price-to-earnings ratio of 15.21 and a beta of 1.29. The business’s 50 day moving average is $54.14 and its two-hundred day moving average is $51.01. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.93 by $0.13. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio is 30.52%.

Bank of America News Summary

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong‑Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax‑equity investments and is pushing into fixed‑income & digital‑asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near‑term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BAC. Oppenheimer raised their target price on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Cowen reissued a “buy” rating on shares of Bank of America in a report on Wednesday. Finally, Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.82.

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.