BCS Wealth Management Reduces Stock Holdings in Bank of America Corporation $BAC

BCS Wealth Management lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 70.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,510 shares of the financial services provider’s stock after selling 17,808 shares during the quarter. BCS Wealth Management’s holdings in Bank of America were worth $387,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Bank of America in the 2nd quarter worth about $5,091,641,000. Arrowstreet Capital Limited Partnership lifted its stake in Bank of America by 124.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after purchasing an additional 9,782,208 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Bank of America during the second quarter valued at approximately $202,439,000. OMERS ADMINISTRATION Corp grew its stake in shares of Bank of America by 881.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after buying an additional 3,781,417 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Bank of America in the second quarter worth approximately $164,623,000. 70.71% of the stock is currently owned by institutional investors.

More Bank of America News

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

• Positive Sentiment: Multiple banks raised price targets and kept overweight/positive ratings, lifting sentiment and giving investors upside targets. Links: Read More., Read More., Read More.
• Positive Sentiment: Product/coverage expansion: BofA is allowing advisers to recommend Bitcoin ETFs — a move that can generate new fee income and attract client flows if adoption ramps. Read More.
• Positive Sentiment: Fundamentals: BAC’s most recent quarter beat EPS expectations and showed revenue growth and solid ROE, supporting valuation multiple expansion vs. regional peers. (Earnings detail from recent filings and consensus estimates.)
• Neutral Sentiment: Options and flow: Recent coverage highlights elevated options activity and moderately bullish positioning in BAC options — this can amplify intraday moves but is not a fundamental change. Read More.
• Neutral Sentiment: Research output: BofA analysts remain active with sector calls (airlines, healthcare, energy names) and public commentary (e.g., on SoFi M&A prospects). These notes drive market attention but are indirect for BAC equity performance. Read More., Read More.

Analyst Upgrades and Downgrades

Several brokerages have commented on BAC. Seaport Global Securities upped their price objective on Bank of America from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Citigroup raised their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Barclays upped their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday. Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. Finally, UBS Group increased their price objective on Bank of America from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Twenty-three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.86.

Bank of America Stock Up 0.6%

Shares of NYSE BAC opened at $57.24 on Wednesday. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The stock’s fifty day simple moving average is $53.97 and its two-hundred day simple moving average is $50.84. The stock has a market capitalization of $417.97 billion, a PE ratio of 15.60 and a beta of 1.29. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $27.05 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 5th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s payout ratio is presently 30.52%.

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.