Wedmont Private Capital Grows Stock Holdings in Bank of America Corporation $BAC

Posted by Brian Himes on Oct 9th, 2026

Wedmont Private Capital boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 66.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,850 shares of the financial services provider’s stock after buying an additional 50,464 shares during the period. Wedmont Private Capital’s holdings in Bank of America were worth $6,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. purchased a new stake in shares of Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC purchased a new position in shares of Bank of America during the fourth quarter worth about $26,000. Cherry Tree Wealth Management LLC increased its position in shares of Bank of America by 167.6% in the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Principia Wealth Advisory LLC increased its position in shares of Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in Bank of America in the second quarter valued at approximately $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. UBS Group cut their price target on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a research note on Monday. Evercore set a $62.00 price objective on shares of Bank of America in a report on Thursday, October 1st. Barclays increased their target price on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Citigroup raised their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada upped their price objective on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Nineteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Read Our Latest Stock Analysis on Bank of America

Bank of America Trading Up 1.0%

Bank of America stock traded up $0.51 during mid-day trading on Friday, hitting $54.12. The company’s stock had a trading volume of 11,993,079 shares, compared to its average volume of 37,129,883. The business has a 50 day moving average price of $60.25 and a 200-day moving average price of $56.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock has a market cap of $378.45 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.86 and a beta of 1.21.

Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. As a group, analysts forecast that Bank of America Corporation will post 4.61 EPS for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio is 29.36%.

Bank of America News Roundup

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

Positive Sentiment: Analysts expect higher net interest income and relatively strong trading results to support third-quarter revenue. A recent view also argues that a shift toward Federal Reserve rate cuts could provide additional NII upside. Q3 earnings outlook
Positive Sentiment: TD Cowen began coverage with a Hold rating and a $60 price target, implying potential upside from the referenced share price. The target provides a modestly constructive valuation signal, although the rating is not bullish. TD Cowen coverage
Neutral Sentiment: Wall Street is focused on whether BAC can sustain the momentum from its latest quarter, when it exceeded earnings and revenue estimates. However, forecasts indicate earnings-per-share growth could slow from roughly 36% to single digits, raising the bar for October 14 results. BAC EPS growth outlook
Neutral Sentiment: BAC issued 5.10% senior unsecured notes due in 2028. The offering adds funding flexibility and gives investors a current reference point for how creditors assess the bank’s risk, but it also highlights ongoing funding costs. Bank of America bond issue
Negative Sentiment: The positive NII and trading outlook is partly offset by weaker investment-banking fees, higher credit risks and expectations for slower EPS growth. These factors could pressure the stock if management provides cautious guidance. BAC mixed Q3 outlook
Negative Sentiment: BAC agreed to a $39 million Merrill cash-sweep settlement. While likely manageable relative to the bank’s size, the charge adds a legal and regulatory overhang. Separately, Chief Equity Strategist Michael Hartnett said investors are accumulating cash and that a potential Democratic sweep of Congress could weaken risk appetite, creating a less favorable market backdrop for banks. Merrill settlement

About Bank of America

(Free Report)

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.