First Citizens Bank & Trust Co. Has $16.23 Million Holdings in Bank of America Corporation $BAC

First Citizens Bank & Trust Co. trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC) by 8.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,515 shares of the financial services provider’s stock after selling 28,273 shares during the period. First Citizens Bank & Trust Co.’s holdings in Bank of America were worth $16,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. William B. Walkup & Associates Inc. increased its position in Bank of America by 1.4% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 192 shares in the last quarter. Albion Financial Group UT grew its stake in shares of Bank of America by 1.6% during the third quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 205 shares during the last quarter. Motive Wealth Advisors increased its holdings in shares of Bank of America by 3.6% in the third quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 205 shares in the last quarter. Howard Financial Services LTD. raised its position in Bank of America by 2.5% in the 3rd quarter. Howard Financial Services LTD. now owns 8,508 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 205 shares during the last quarter. Finally, Wynn Capital LLC lifted its holdings in Bank of America by 0.4% during the 3rd quarter. Wynn Capital LLC now owns 47,063 shares of the financial services provider’s stock worth $2,428,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $51.75 on Friday. The company has a market capitalization of $377.87 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.26 and a beta of 1.29. The firm’s 50 day simple moving average is $54.06 and its 200 day simple moving average is $51.36. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter last year, the firm earned $0.82 EPS. Bank of America’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird boosted their target price on Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Ameriprise Financial upgraded Bank of America to a “buy” rating in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of America from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Evercore ISI set a $59.00 price target on shares of Bank of America in a research report on Thursday, January 15th. Finally, Morgan Stanley dropped their price target on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Bank of America has a consensus 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

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.