Bank of America Corporation $BAC Shares Sold by OneAscent Financial Services LLC

OneAscent Financial Services LLC lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 66.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,592 shares of the financial services provider’s stock after selling 25,215 shares during the period. OneAscent Financial Services LLC’s holdings in Bank of America were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. grew its stake in shares of Bank of America by 75.2% during the second 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 during the last quarter. Quaker Wealth Management LLC boosted its stake in Bank of America by 246.5% in the 2nd 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 acquired a new stake in Bank of America in the 2nd quarter worth approximately $28,000. Steph & Co. grew its position in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares during the last quarter. Finally, CGC Financial Services LLC increased its stake in Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 521 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 1.6%

Shares of BAC opened at $56.84 on Tuesday. The stock’s 50-day moving average price is $53.88 and its 200-day moving average price is $50.76. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $415.04 billion, a price-to-earnings ratio of 15.49 and a beta of 1.29. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.Bank of America’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

More Bank of America News

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

• Positive Sentiment: Wells Fargo raised its price target on Bank of America to $65 and kept an “overweight” rating, signaling upside vs. recent levels and giving investors fresh upward guidance. Wells Fargo adjusts price target on Bank of America to $65 from $62; maintains overweight rating
• Positive Sentiment: Bank of America signaled it will allow advisers to recommend Bitcoin ETFs to clients — a product-access change that could expand fee-based sales, client engagement and deposits tied to digital-asset flows. This strategic move is being viewed as revenue-positive and pro-growth by markets. Bank of America Opens the Door for Advisers to Recommend Bitcoin ETFs
• Positive Sentiment: Bank of America’s own strategists publicly recommended a ~4% Bitcoin allocation for investors (coverage in the press), reinforcing the firm’s bullish messaging on crypto and likely supporting investor enthusiasm for BAC’s crypto-facing initiatives. Investors Should Hold 4% Bitcoin in Portfolio, Says Bank of America
• Neutral Sentiment: Coverage notes and analyst blog mentions (Zacks) include Bank of America among broader market calls — informative but not a direct catalyst beyond existing analyst sentiment. The Zacks Analyst Blog: Meta, Bank of America, The Procter & Gamble, Espey and NeurAxis
• Neutral Sentiment: Analyses assessing BAC valuation after the recent share-price run provide context for investors weighing further upside vs. stretched multiples — useful for positioning but not an immediate driver. Assessing Bank of America (BAC) Valuation After Recent Share Price Momentum
• Negative Sentiment: Macro cautionary commentary (Ray Dalio and broader market warnings) and notes on elevated market valuations from a BofA strategist could raise risk-off sentiment if sentiment shifts, which would pressure bank shares given sensitivity to rates and economic cycles. Ray Dalio’s Warning For Fiat Currencies, Potential Impact Of Trump’s Tax Refunds On Markets, And More

Wall Street Analyst Weigh In

Several research firms have recently commented on BAC. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Wolfe Research lifted their price target on Bank of America from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. TD Cowen lifted their target price on Bank of America from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a report on Thursday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.27.

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.