VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Bank of America Corporation (NYSE:BAC – Free Report) by 8.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 951,469 shares of the financial services provider’s stock after purchasing an additional 70,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Bank of America were worth $51,788,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America in the second quarter valued at about $25,000. Cherry Tree Wealth Management LLC grew its position in Bank of America by 167.6% during the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Principia Wealth Advisory LLC grew its position in Bank of America by 69.9% during the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after buying an additional 218 shares during the period. Balance Wealth Partners LLC purchased a new position in Bank of America in the third quarter valued at about $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in Bank of America in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.
Bank of America Trading Down 2.2%
Shares of BAC opened at $50.03 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The stock has a market cap of $349.85 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. The firm has a 50 day simple moving average of $56.44 and a 200-day simple moving average of $54.96.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The company had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. Bank of America’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. Equities analysts forecast that Bank of America Corporation will post 4.52 EPS for the current fiscal year.
Bank of America Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s payout ratio is 30.40%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on BAC. Jefferies Financial Group decreased their price target on Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Phillip Securities raised Bank of America to a “strong-buy” rating in a research note on Friday, October 16th. Rothschild & Co Redburn set a $72.00 price objective on Bank of America in a report on Tuesday, October 6th. Argus set a $70.00 price objective on Bank of America in a report on Wednesday, July 15th. Finally, UBS Group decreased their target price on Bank of America from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.70.
Get Our Latest Stock Analysis on BAC
Trending Headlines about Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
- Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
- Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
- Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
- Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
- Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes
Bank of America Profile
Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.
The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.
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