40,200 Bank of America Corporation $BAC Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its holdings in shares of Bank of America Corporation (NYSE:BAC) by 29.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,569 shares of the financial services provider’s stock after selling 40,200 shares during the quarter. Cullinan Associates Inc.’s holdings in Bank of America were worth $5,147,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BAC. Total Clarity Wealth Management Inc. lifted its stake in Bank of America by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 168 shares during the last quarter. Orca Wealth Management LLC boosted its holdings in Bank of America by 0.5% in the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock valued at $1,999,000 after purchasing an additional 179 shares in the last quarter. Financial Consulate Inc. boosted its holdings in Bank of America by 4.0% in the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 181 shares in the last quarter. Bedel Financial Consulting Inc. increased its stake in Bank of America by 1.1% in the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC increased its stake in Bank of America by 3.6% in the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore set a $62.00 price objective on shares of Bank of America in a research report on Thursday, October 1st. Royal Bank Of Canada dropped their target price on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a research report on Friday, October 30th. UBS Group cut their price target on shares of Bank of America from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. 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 for the company in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.48.

Bank of America Price Performance

Shares of NYSE:BAC opened at $49.54 on Friday. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The stock has a market capitalization of $341.82 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.87 and a beta of 1.19. The company has a 50-day simple moving average of $55.24 and a 200-day simple moving average of $54.89. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The company had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. On average, analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s dividend payout ratio (DPR) is presently 30.40%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America may have room to grow revenue by offering more banking products to Merrill clients, supported by rising wealth balances and lending growth. Read article: BAC Sees Untapped Merrill Banking Potential
• Neutral Sentiment: Consumer banking chief Holly O’Neill expressed optimism about AI’s potential for financial innovation, but the interview did not announce a specific initiative or financial target. Read article: Bank of America’s Holly O’Neill on AI
• Negative Sentiment: A securities class action has been filed on behalf of investors who acquired BAC shares from August 1, 2025, through October 13, 2026. The suit alleges misleading statements; the claims have not been proven. The lead-plaintiff deadline is December 15, adding legal and reputational uncertainty. Read article: Securities class action notice
• Negative Sentiment: Investor-law-firm notices also spotlight Senator Elizabeth Warren’s call for a Justice Department criminal investigation following the bank’s admission that it willfully violated federal anti-money-laundering laws. Further scrutiny could increase legal, compliance, and reputational risks. Read article: BAC investor alert on regulatory scrutiny

Bank of America Company Profile

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services.

The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.