Kelleher Financial Advisors Sells 37,825 Shares of Bank of America Corporation $BAC

Kelleher Financial Advisors reduced its stake in shares of Bank of America Corporation (NYSE:BAC) by 50.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,475 shares of the financial services provider’s stock after selling 37,825 shares during the period. Bank of America accounts for 0.5% of Kelleher Financial Advisors’ portfolio, making the stock its 27th largest position. Kelleher Financial Advisors’ holdings in Bank of America were worth $2,040,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America during the 2nd quarter worth $25,000. Cherry Tree Wealth Management LLC raised its position in shares of Bank of America by 167.6% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Principia Wealth Advisory LLC boosted its holdings in Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in Bank of America in the second quarter valued at $34,000. Finally, Balance Wealth Partners LLC acquired a new position in Bank of America in the third quarter valued at $33,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of NYSE BAC opened at $51.61 on Thursday. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $356.14 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. The business has a 50 day simple moving average of $55.72 and a 200-day simple moving average of $54.92.

Bank of America (NYSE:BAC) last posted its 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). The company had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, equities research analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Phillip Securities upgraded Bank of America to a “strong-buy” rating in a report on Friday, October 16th. TD Cowen decreased their target price on Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Barclays dropped their target price on shares of Bank of America from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Finally, Wells Fargo & Company reduced their price target on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.48.

Bank of America News Summary

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

Bank of America Profile

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.