Stableford Capital II LLC boosted its holdings in Bank of America Corporation (NYSE:BAC) by 61.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,792 shares of the financial services provider’s stock after purchasing an additional 10,528 shares during the quarter. Stableford Capital II LLC’s holdings in Bank of America were worth $1,513,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of BAC. Bamco Inc. NY raised its stake in shares of Bank of America by 45.4% in the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider’s stock valued at $2,336,000 after acquiring an additional 12,794 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Bank of America in the 2nd quarter worth $4,089,000. Bernicke Wealth Management Ltd. acquired a new position in Bank of America in the 2nd quarter valued at approximately $2,132,000. Legacy Private Trust Co. boosted its stake in Bank of America by 11.7% during the third quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider’s stock worth $6,267,000 after buying an additional 12,016 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Bank of America in the first quarter valued at about $67,507,000. 70.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BAC. Wells Fargo & Company boosted their price target on shares of Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on shares of Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Robert W. Baird increased their price target on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Finally, HSBC initiated coverage on shares of Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 price objective on the stock. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $64.22.
Bank of America News Roundup
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: TD Cowen begins coverage with a $60 price target. The “hold” rating implies roughly 12% upside from the referenced $53.51 price, providing a supportive valuation benchmark even though the firm is not calling for aggressive outperformance.
- Positive Sentiment: A potential Fed policy shift could improve net interest income. An analyst upgrade argues that changing interest-rate expectations may create upside for BAC’s spread income, a key earnings driver for large banks. Bank of America: Fed Policy Shift Creates NII Upside
- Positive Sentiment: Capital-markets activity and AI investment offer longer-term support. BofA sees strong potential demand for large technology IPOs, while management says AI is being used to personalize customer service and improve operations. These developments could support investment-banking fees and efficiency over time. How Bank of America is using AI to reinvent the customer experience
- Neutral Sentiment: BAC issued 5.10% senior unsecured notes due in 2028. The transaction adds funding and provides a market reference for how creditors assess the bank’s risk. It is not inherently negative, but the relatively high coupon keeps attention on funding costs and credit spreads.
- Neutral Sentiment: Recent portfolio-stake disclosures are unlikely to materially affect BAC. Bank of America raised or reduced indirect holdings in several foreign companies, including Lakefront Biotherapeutics and Avrupa Yatirim Holding. These are routine investment or custody-related disclosures rather than changes to the bank’s core business.
- Negative Sentiment: Analysts expect EPS growth to slow sharply. After an estimated 36% increase, earnings growth is projected to fall to single digits, raising the bar for the company’s October 14 results and guidance. Investors will focus on loan growth, credit quality, deposits and net interest income.
- Negative Sentiment: BAC agreed to a $39 million Merrill cash-sweep settlement. The payment creates a near-term legal and reputational overhang, although its size appears modest relative to Bank of America’s overall earnings and balance sheet.
- Negative Sentiment: BofA’s cautious outlook on Nike highlights limited relevance to BAC. Weakness in Nike’s Jordan, Sportswear and China businesses may affect Nike rather than Bank of America directly; the item is unlikely to be a meaningful BAC catalyst. Nike made Jordans too easy to buy, and Bank of America noticed
Bank of America Price Performance
Shares of NYSE BAC opened at $53.51 on Friday. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a market cap of $374.15 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21. The business’s 50 day moving average is $60.25 and its 200-day moving average is $56.54.
Bank of America (NYSE:BAC – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts predict that Bank of America Corporation will post 4.61 earnings per share for the current year.
Bank of America Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a $0.32 dividend. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is presently 29.36%.
Bank of America Profile
Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.
Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.
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