Bank of America Corporation $BAC Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its position in Bank of America Corporation (NYSE:BAC) by 19.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,057,710 shares of the financial services provider’s stock after selling 1,252,653 shares during the quarter. Pzena Investment Management LLC’s holdings in Bank of America were worth $275,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BAC. Rakuten Investment Management Inc. acquired a new stake in Bank of America during the 3rd quarter worth about $64,111,000. Third View Private Wealth LLC raised its stake in shares of Bank of America by 5.0% during the 3rd quarter. Third View Private Wealth LLC now owns 29,664 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 1,424 shares during the last quarter. Provenance Wealth Advisors LLC lifted its holdings in shares of Bank of America by 296.5% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 19,641 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 14,688 shares during the period. Ackerman Capital Advisors LLC lifted its holdings in shares of Bank of America by 29.1% in the 3rd quarter. Ackerman Capital Advisors LLC now owns 4,796 shares of the financial services provider’s stock valued at $261,000 after buying an additional 1,080 shares during the period. Finally, Lyell Wealth Management LP boosted its stake in shares of Bank of America by 1.0% in the third quarter. Lyell Wealth Management LP now owns 76,030 shares of the financial services provider’s stock worth $4,138,000 after buying an additional 762 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of several analyst reports. Morgan Stanley dropped their target price on Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a report on Tuesday, October 6th. Argus set a $70.00 price target on Bank of America in a report on Wednesday, July 15th. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.48.

Bank of America Stock Performance

NYSE BAC opened at $51.61 on Thursday. The company has a market cap of $356.14 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. The stock’s 50 day simple moving average is $55.72 and its 200-day simple moving average is $54.92. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The firm had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s dividend payout ratio (DPR) is currently 30.40%.

Trending Headlines about Bank of America

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

• Negative Sentiment: Senator Elizabeth Warren is reportedly urging the Justice Department to investigate Bank of America and its executives after the bank admitted willfully violating anti-money-laundering laws. A criminal probe could add legal, regulatory, and reputational risk beyond the enforcement resolution already reached. Article: BAC Subject to Increasing Scrutiny
• Negative Sentiment: A securities class action has been filed on behalf of investors who bought BAC shares between August 1, 2025, and October 13, 2026. The allegations remain unproven, but the case adds potential litigation costs and uncertainty; the lead-plaintiff deadline is December 15, 2026. Multiple law-firm notices relate to this same lawsuit. Article: Kaplan Fox class-action notice
• Negative Sentiment: A report cited a pessimistic UBS forecast for BAC, while another reported that the shares fell following an analyst downgrade. The supplied coverage does not provide the revised price target or rationale, but the downgrade may weigh on investor sentiment. Article: UBS Group Issues Pessimistic Forecast

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.