116,644 Bank of America Corporation $BAC Shares Bought by Community Trust & Investment Co.

Posted by Brian Himes on Oct 16th, 2026

Community Trust & Investment Co. increased its position in shares of Bank of America Corporation (NYSE:BAC) by 1,652.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 123,703 shares of the financial services provider’s stock after acquiring an additional 116,644 shares during the quarter. Community Trust & Investment Co.’s holdings in Bank of America were worth $6,733,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America in the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC boosted its holdings in 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 valued at $27,000 after purchasing an additional 300 shares during the last quarter. Principia Wealth Advisory LLC boosted its stake in Bank of America by 69.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Bank of America during the second quarter valued at approximately $34,000. Finally, Vermillion Wealth Management Inc. increased its stake in Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 438 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Bank of America

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

Positive Sentiment: Net interest income increased 8% year over year to approximately $16.4 billion, while average loans rose 6% and deposits grew 2%. Management also targeted at least 8% net-interest-income growth in 2027, supported by loan and deposit expansion. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
Positive Sentiment: Consumer banking and wealth management remained areas of strength, with Merrill’s fee-based advisory assets reaching a record $1.9 trillion. Bank of America also returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
Positive Sentiment: Despite lower targets, several analysts retained favorable views. Baird upgraded BAC to “outperform,” while Citigroup, Truist and Keefe, Bruyette & Woods maintained buy or outperform ratings. The revised targets remain above the current share price.
Neutral Sentiment: Bank of America said it has added roughly 1,000 contractors alongside 3,000 employees to address software vulnerabilities identified by advanced AI tools. The spending pressures near-term expenses but could reduce technology and operational risk over time. Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos
Negative Sentiment: Regulators imposed more than $1.2 billion in penalties for failures involving anti-money-laundering, Bank Secrecy Act and sanctions compliance, including the failure to report more than $5 billion in suspicious transactions. The charge reduced reported third-quarter EPS and raised concerns about management’s controls and potential remediation costs. Bank of America profit hurt by $1.2 billion fine over anti-money laundering shortcomings
Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Fixed-income trading revenue fell 17%, investment-banking activity weakened, expenses grew faster than revenue, and credit-loss provisions reached approximately $1.3 billion. Analysts subsequently lowered price targets, including Morgan Stanley, TD Cowen, Piper Sandler and Citigroup.
Negative Sentiment: Multiple law firms announced investigations into potential securities-law violations or breaches of fiduciary duty following the penalty and earnings miss. These notices do not establish liability but add reputational and potential litigation risk for BAC investors.

Bank of America Trading Up 0.5%

Shares of NYSE:BAC opened at $51.65 on Friday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The firm has a fifty day moving average of $59.29 and a two-hundred day moving average of $56.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $361.15 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21.

Bank of America (NYSE:BAC – Get Free Report) last posted its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The company had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. During the same quarter last year, the business earned $1.06 earnings per share. Bank of America’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that Bank of America Corporation will post 4.60 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.32 per share. 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 yield of 2.5%. The ex-dividend date was Friday, September 4th. Bank of America’s dividend payout ratio is presently 29.36%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAC. Evercore set a $62.00 target price on Bank of America in a report on Thursday, October 1st. Keefe, Bruyette & Woods cut their target price on Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday. Truist Financial lowered their price objective on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Thursday. Twenty research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.52.

View Our Latest Stock Report on BAC

Bank of America Profile

(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.