Bank of America Corporation $BAC Stock: Weaver Capital Management LLC Boosts Position

Weaver Capital Management LLC grew its stake in shares of Bank of America Corporation (NYSE:BAC) by 21.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 59,655 shares of the financial services provider’s stock after buying an additional 10,612 shares during the period. Weaver Capital Management LLC’s holdings in Bank of America were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BAC. Legal & General Group Plc bought a new stake in shares of Bank of America during the 2nd quarter valued at $2,571,060,000. Amundi lifted its holdings in Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock worth $2,066,274,000 after purchasing an additional 4,721,969 shares in the last quarter. Deutsche Bank AG purchased a new stake in Bank of America during the 2nd quarter worth about $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America in the 2nd quarter worth about $2,313,953,000. Finally, Dimensional Fund Advisors LP boosted its stake in 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 worth $1,517,599,000 after purchasing an additional 561,413 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

NYSE:BAC opened at $51.65 on Friday. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The stock has a fifty day moving average of $59.29 and a 200 day moving average of $56.72. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $361.15 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.83 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced its earnings results 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). The business had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. Bank of America’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. On average, research analysts expect that Bank of America Corporation will post 4.60 EPS 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 a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America’s dividend payout ratio is 29.36%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Net interest income increased 8% year over year to approximately $16.4 billion, while average loans rose 6% and deposits grew 2%. Management also targeted at least 8% net-interest-income growth in 2027, supported by loan and deposit expansion. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management remained areas of strength, with Merrill’s fee-based advisory assets reaching a record $1.9 trillion. Bank of America also 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: Despite lower targets, several analysts retained favorable views. Baird upgraded BAC to “outperform,” while Citigroup, Truist and Keefe, Bruyette & Woods maintained buy or outperform ratings. The revised targets remain above the current share price.
• Neutral Sentiment: Bank of America said it has added roughly 1,000 contractors alongside 3,000 employees to address software vulnerabilities identified by advanced AI tools. The spending pressures near-term expenses but could reduce technology and operational risk over time. Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos
• Negative Sentiment: Regulators imposed more than $1.2 billion in penalties for failures involving anti-money-laundering, Bank Secrecy Act and sanctions compliance, including the failure to report more than $5 billion in suspicious transactions. The charge reduced reported third-quarter EPS and raised concerns about management’s controls and potential remediation costs. Bank of America profit hurt by $1.2 billion fine over anti-money laundering shortcomings
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Fixed-income trading revenue fell 17%, investment-banking activity weakened, expenses grew faster than revenue, and credit-loss provisions reached approximately $1.3 billion. Analysts subsequently lowered price targets, including Morgan Stanley, TD Cowen, Piper Sandler and Citigroup.
• Negative Sentiment: Multiple law firms announced investigations into potential securities-law violations or breaches of fiduciary duty following the penalty and earnings miss. These notices do not establish liability but add reputational and potential litigation risk for BAC investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BAC. Truist Financial reduced their target price on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lowered their price target on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Rothschild & Co Redburn set a $72.00 price objective on shares of Bank of America in a research report on Tuesday, October 6th. Finally, Jefferies Financial Group reduced their price objective 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. Twenty analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.52.

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.