Longfellow Investment Management Co. LLC Lowers Holdings in Bank of America Corporation $BAC

Longfellow Investment Management Co. LLC reduced its stake in shares of Bank of America Corporation (NYSE:BAC) by 26.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 28,002 shares of the financial services provider’s stock after selling 10,240 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Bank of America were worth $1,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Smith Moore & CO. grew its holdings in Bank of America by 2.7% during the third quarter. Smith Moore & CO. now owns 13,693 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 355 shares during the period. United Capital Management of KS Inc. lifted its holdings in Bank of America by 1.6% in the third quarter. United Capital Management of KS Inc. now owns 152,051 shares of the financial services provider’s stock valued at $7,844,000 after acquiring an additional 2,406 shares during the period. Tower Bridge Advisors boosted its position in Bank of America by 0.9% in the 3rd quarter. Tower Bridge Advisors now owns 74,178 shares of the financial services provider’s stock worth $3,827,000 after purchasing an additional 660 shares in the last quarter. Advisory Alpha LLC grew its stake in shares of Bank of America by 3.0% during the 3rd quarter. Advisory Alpha LLC now owns 34,098 shares of the financial services provider’s stock worth $1,722,000 after purchasing an additional 995 shares during the period. Finally, NewSquare Capital LLC increased its holdings in shares of Bank of America by 31.6% during the 3rd quarter. NewSquare Capital LLC now owns 5,907 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 1,418 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Evercore set a $59.00 target price on shares of Bank of America in a research note on Thursday, January 15th. JPMorgan Chase & Co. lifted their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada upped their price target on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.30.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America Private Bank launched an Art Consulting service to help wealth clients treat art as an investable asset, which can deepen client relationships and boost advisory/relationship fee income. Read More.
• Positive Sentiment: BofA Securities acted as lead underwriter/advisor on SM Energy’s $1B senior notes offering, highlighting ongoing investment-banking deal flow that supports non‑interest fee revenue. Read More.
• Neutral Sentiment: Bank of America disclosed a stake crossing in Galapagos under transparency rules; this is a regulatory filing about holdings rather than a business development for BAC itself. Read More.
• Neutral Sentiment: VantageScore’s CEO will appear at BofA’s upcoming Information & Business Services conference — evidence BofA continues to host investor events that support its securities business but with limited direct impact on the bank’s fundamentals. Read More.
• Neutral Sentiment: Coverage and analyst activity mentioning BAC (Zacks trending piece) indicate retail/investor interest in the stock; attention can drive volume but is not a clear directional catalyst. Read More.
• Negative Sentiment: Analysis flagging that BAC’s recent share momentum is cooling raises near-term valuation pressure and may be a direct reason shares are trading lower today. Read More.
• Negative Sentiment: Bank of America warns broader market risk from the U.S.-Iran war (e.g., collapsed Strait of Hormuz volumes) could spark volatility and downside for banks via economic and oil‑price shocks. That macro risk is a headwind for financial stocks including BAC. Read More.

Bank of America Stock Down 1.0%

BAC opened at $49.81 on Friday. The company has a market cap of $357.47 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The company has a 50-day moving average price of $53.42 and a 200 day moving average price of $52.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the firm posted $0.82 EPS. Bank of America’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 6th. Bank of America’s payout ratio is presently 29.24%.

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.