Krilogy Financial LLC increased its position in Bank of America Corporation (NYSE:BAC) by 20.7% in the third quarter, Holdings Channel.com reports. The firm owned 101,684 shares of the financial services provider’s stock after acquiring an additional 17,411 shares during the period. Krilogy Financial LLC’s holdings in Bank of America were worth $5,535,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Total Clarity Wealth Management Inc. raised its position in shares of Bank of America by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 168 shares during the period. Orca Wealth Management LLC boosted its stake in shares of Bank of America by 0.5% during the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after acquiring an additional 179 shares during the period. Financial Consulate Inc. lifted its position in Bank of America by 4.0% during the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. boosted its position in shares of Bank of America by 1.1% in the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 184 shares during the period. Finally, GatePass Capital LLC raised its position in Bank of America by 3.6% during the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.
Bank of America Stock Performance
NYSE BAC opened at $54.05 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $377.93 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a 50-day simple moving average of $59.75 and a 200 day simple moving average of $56.67.
Bank of America Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. Bank of America’s dividend payout ratio is currently 29.36%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Barclays raised their target price on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. TD Cowen initiated coverage on shares of Bank of America in a research note on Thursday, October 8th. They issued a “hold” rating and a $60.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating on shares of Bank of America in a report on Tuesday, September 15th. Finally, Royal Bank Of Canada increased their target price 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.
Read Our Latest Analysis on Bank of America
Key Stories Impacting Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America’s most recent quarterly results exceeded expectations, with earnings per share of $1.21 versus the $1.13 consensus and revenue of $31.56 billion, up 19.6% year over year. Investors may look for continued revenue and lending strength in the upcoming report. Bank of America earnings outlook
- Neutral Sentiment: Bank of America is scheduled to report third-quarter results before the market opens on October 14. Analysts are focused on net interest income, lending growth, funding costs and management’s outlook amid elevated Treasury yields and broader weakness in bank stocks. Bank of America Q3 earnings preview
- Neutral Sentiment: Analyst estimates were modestly reduced by Erste Group Bank, which lowered its 2026 earnings forecast to $4.55 per share from $4.64 and its 2027 forecast to $5.22 from $5.25. The 2026 estimate is slightly below the broader consensus of $4.61. Bank of America earnings estimates
- Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties after finding that Bank of America failed to properly monitor transactions and timely report more than $5 billion in suspicious activity. The OCC’s $750 million penalty was described as its largest civil money penalty against a bank, while a separate $11.6 million settlement covered more than 400 apparent sanctions violations involving countries including Russia and Iran. Bank of America anti-money-laundering penalties
- Negative Sentiment: Bank of America said the enforcement action will create a $1.2 billion non-tax-deductible charge in third-quarter results, reducing quarterly earnings by approximately $0.17 per share. The penalty also raises concerns about compliance costs, remediation efforts and potential reputational damage. Bank of America third-quarter charge
Bank of America Company 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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