Bank of America Corporation $BAC Shares Sold by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lowered its stake in Bank of America Corporation (NYSE:BAC) by 1.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 683,204 shares of the financial services provider’s stock after selling 11,060 shares during the quarter. Bank of America makes up about 0.9% of MassMutual Private Wealth & Trust FSB’s holdings, making the stock its 28th biggest position. MassMutual Private Wealth & Trust FSB’s holdings in Bank of America were worth $35,246,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of BAC. Tilson Financial Group Inc. raised its holdings in shares of Bank of America by 3.5% in the third quarter. Tilson Financial Group Inc. now owns 11,820 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 401 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Bank of America by 3.4% during the third quarter. Louisiana State Employees Retirement System now owns 357,600 shares of the financial services provider’s stock valued at $18,449,000 after acquiring an additional 11,900 shares during the last quarter. Barry Investment Advisors LLC increased its position in Bank of America by 41.2% during the 3rd quarter. Barry Investment Advisors LLC now owns 7,686 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 2,242 shares in the last quarter. Mccarter Private Wealth Services LLC raised its stake in Bank of America by 4.0% in the 3rd quarter. Mccarter Private Wealth Services LLC now owns 19,171 shares of the financial services provider’s stock valued at $989,000 after purchasing an additional 740 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its holdings in Bank of America by 4.8% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 84,946 shares of the financial services provider’s stock valued at $4,382,000 after purchasing an additional 3,887 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.6%

BAC stock opened at $57.24 on Wednesday. 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 cap of $417.97 billion, a price-to-earnings ratio of 15.60 and a beta of 1.29. The business has a fifty day simple moving average of $53.97 and a 200-day simple moving average of $50.84. 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 posted 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 firm 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%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. 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: Multiple brokerages raised price targets and ratings on BAC this week (Wells Fargo to $65, Goldman Sachs to $64, JPMorgan to $61), which drove buying interest and helped the stock reach a 12‑month high. Goldman Sachs raises price target JPMorgan raises target Wells Fargo raises target
• Positive Sentiment: News wires reported BAC “trading up” and hitting a new 12‑month high following analyst upgrades, reinforcing momentum-driven buying by investors. Trading up report 12-month high report
• Neutral Sentiment: Options-market activity shows elevated interest in BAC derivatives, which can amplify intraday moves and indicates speculative/hedging flows are contributing to current volatility. Options trading trends
• Neutral Sentiment: BAC is expected to announce quarterly earnings on Wednesday — a near-term catalyst that could confirm analyst optimism or reverse some gains depending on results and guidance. Earnings announcement expectation
• Neutral Sentiment: Bank of America signaled greater institutional support for clients to access Bitcoin ETFs (advisers can recommend them), which may broaden fee/asset flows and attract crypto-interested clients — a longer‑term positive but uncertain near term. BofA on Bitcoin ETFs

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Phillip Securities lifted their price target on shares of Bank of America from $50.00 to $56.00 in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. HSBC boosted their price target on Bank of America from $51.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Dbs Bank upgraded Bank of America to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Argus upped their target price on Bank of America from $53.00 to $58.00 in a research note on Friday, October 17th. Twenty-two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

Bank of America Profile

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.