Waratah Capital Advisors Ltd. Takes Position in Bank of America Corporation $BAC

Waratah Capital Advisors Ltd. bought a new position in Bank of America Corporation (NYSE:BAC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 191,681 shares of the financial services provider’s stock, valued at approximately $9,889,000.

Several other hedge funds also recently modified their holdings of BAC. Palumbo Wealth Management LLC lifted its position in shares of Bank of America by 1.0% during the 3rd quarter. Palumbo Wealth Management LLC now owns 51,173 shares of the financial services provider’s stock worth $2,499,000 after buying an additional 493 shares in the last quarter. Mufg Securities Americas Inc. raised its stake in shares of Bank of America by 26.6% in the third quarter. Mufg Securities Americas Inc. now owns 198,918 shares of the financial services provider’s stock valued at $10,262,000 after buying an additional 41,809 shares during the period. First Financial Bankshares Inc grew its stake in shares of Bank of America by 0.5% during the 3rd quarter. First Financial Bankshares Inc now owns 1,679,546 shares of the financial services provider’s stock worth $86,648,000 after acquiring an additional 8,807 shares during the period. Compound Planning Inc. increased its stake in shares of Bank of America by 13.0% in the third quarter. Compound Planning Inc. now owns 156,949 shares of the financial services provider’s stock worth $8,097,000 after purchasing an additional 18,047 shares in the last quarter. Finally, Stonebrook Private Inc. grew its stake in Bank of America by 1.2% in the 3rd quarter. Stonebrook Private Inc. now owns 19,212 shares of the financial services provider’s stock valued at $991,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the topic of a number of analyst reports. Daiwa Securities Group decreased their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, January 27th. Wolfe Research cut Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. HSBC increased their price target on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a report on Friday, February 6th. The Goldman Sachs Group boosted their price objective on shares of Bank of America from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Morgan Stanley decreased their target price on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America is committing $25 billion to expand its private‑credit platform and has new leadership for the effort — a move that can boost fee income, diversify loan-related revenue, and support returns as the bank leverages its balance sheet to capture private markets. Bank Of America Expands Private Credit And Premium Services As Valuation Lags
• Positive Sentiment: Merrill is launching a special trading desk for ultra‑wealthy clients (Direct Markets Group) to deepen high‑net‑worth relationships — a strategic wealth offering that can increase client retention, trading revenue and assets under management. Merrill Launches Special Trading Desk for Wealthiest Clients
• Neutral Sentiment: Analysts and market writeups note BAC has underperformed the S&P 500 over the past year, prompting continued debate about valuation versus growth prospects — useful context but not an immediate catalyst. Is Bank of America Stock Underperforming the S&P 500?
• Negative Sentiment: Sector pressure from private‑credit market disruptions (forced loan sales/redemptions) and renewed tariff policy jitters has pushed financials lower; investors are marking down bank multiples and sentiment has driven BAC shares down in recent trading. Bank Of America Stock Edges Lower As Private Credit Turmoil, Tariff Jitters Weigh On Financials
• Negative Sentiment: Daily market wrap highlights macro/economic uncertainty is pressuring big banks, contributing to near‑term share weakness despite BAC’s strategic moves. Stock Market Today, Feb. 24: Bank of America Slips as Economic Uncertainty Pressures Big Banks

Bank of America Trading Down 1.2%

Shares of BAC opened at $50.43 on Wednesday. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The company has a market capitalization of $368.29 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.25 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $54.12 and its 200 day simple moving average is $52.39.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts forecast 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. Shareholders of record on Friday, March 6th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s payout ratio is 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.