BG Investment Services Inc. Acquires New Stake in Bank of America Corporation $BAC

BG Investment Services Inc. acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,755 shares of the financial services provider’s stock, valued at approximately $555,000.

A number of other institutional investors have also recently modified their holdings of the stock. Quaker Wealth Management LLC boosted 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 worth $25,000 after purchasing an additional 880 shares in the last quarter. RMG Wealth Management LLC bought a new stake in Bank of America during the 2nd quarter valued at about $28,000. Steph & Co. raised its holdings in Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after buying an additional 379 shares during the last quarter. CGC Financial Services LLC lifted its stake in shares of Bank of America by 585.4% in the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after buying an additional 521 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of Bank of America during the third quarter valued at approximately $30,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Down 1.3%

BAC opened at $51.75 on Monday. The firm’s 50 day simple moving average is $54.06 and its two-hundred day simple moving average is $51.39. The company has a market capitalization of $377.87 billion, a PE ratio of 13.51, a PEG ratio of 1.26 and a beta of 1.29. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. 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 (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the prior year, the business posted $0.82 EPS. Bank of America’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Daiwa Capital Markets boosted their price target on Bank of America from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Dbs Bank raised Bank of America to a “moderate buy” rating in a research report on Wednesday, October 22nd. Evercore ISI set a $59.00 price objective on Bank of America in a report on Thursday, January 15th. Finally, Wall Street Zen cut shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, January 5th. One 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, the company has a consensus rating of “Moderate Buy” and an average target price of $59.74.

More Bank of America News

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 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.