CIBC Asset Management Inc Buys 267,648 Shares of Bank of America Corporation $BAC

CIBC Asset Management Inc increased its position in shares of Bank of America Corporation (NYSE:BAC) by 23.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,394,045 shares of the financial services provider’s stock after buying an additional 267,648 shares during the quarter. CIBC Asset Management Inc’s holdings in Bank of America were worth $71,887,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC increased its position in shares of Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 880 shares during the period. Steph & Co. lifted its position 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 purchasing an additional 379 shares during the period. RMG Wealth Management LLC acquired a new stake in Bank of America during the second quarter worth $28,000. Marquette Asset Management LLC bought a new stake in Bank of America in the 3rd quarter valued at $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Bank of America in the 3rd quarter valued at $31,000. 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 business has a fifty day moving average of $54.06 and a 200-day moving average of $51.36. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The firm has a market cap of $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29.

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, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. On average, equities research analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Key Stories Impacting Bank of America

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

Analysts Set New Price Targets

BAC has been the topic of several recent research reports. TD Cowen decreased their target price on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Royal Bank Of Canada raised their price target on shares of Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Citigroup upped their price objective on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. The Goldman Sachs Group increased their target price on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, Oppenheimer boosted their price target on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $59.74.

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.