ARGA Investment Management LP Purchases 370,940 Shares of Bank of America Corporation $BAC

ARGA Investment Management LP raised its position in Bank of America Corporation (NYSE:BAC) by 99.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 744,228 shares of the financial services provider’s stock after buying an additional 370,940 shares during the quarter. Bank of America comprises about 1.0% of ARGA Investment Management LP’s holdings, making the stock its 23rd largest position. ARGA Investment Management LP’s holdings in Bank of America were worth $38,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC grew its stake in Bank of America by 246.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after buying an additional 880 shares in the last quarter. Steph & Co. raised its holdings in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after buying an additional 379 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in Bank of America in the second quarter worth approximately $28,000. Marquette Asset Management LLC bought a new position in Bank of America during the third quarter valued at approximately $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $31,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BAC has been the subject of several analyst reports. TD Cowen dropped their target price on Bank of America from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 15th. UBS Group increased their price target on shares of Bank of America from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Citigroup boosted their price target on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price objective on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of America from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.74.

Bank of America News Roundup

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Bank of America Stock Performance

Shares of BAC stock opened at $51.75 on Friday. The company’s fifty day moving average price is $54.06 and its 200-day moving average price is $51.33. The stock has a market cap of $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same period last year, the company posted $0.82 EPS. Bank of America’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Company Profile

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.