10,061 Bank of America Corporation $BAC Shares Bought by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors increased its Bank of America stake by 4% in the third quarter, acquiring 10,061 shares and bringing its total holdings to 263,715 shares valued at approximately $13.3 million.
• Bank of America reported quarterly EPS of $1.08 and revenue of $29.96 billion, both slightly below analyst expectations, although revenue increased 3.2% year over year. Institutional investors own 70.71% of the stock.
• The bank raised its quarterly dividend to $0.32 per share, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $62.82; regulatory and litigation concerns related to anti-money-laundering compliance remain risks.

Foster Victor Wealth Advisors LLC increased its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,715 shares of the financial services provider's stock after acquiring an additional 10,061 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Bank of America were worth $13,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BAC. Legal & General Group Plc acquired a new position in Bank of America during the second quarter valued at approximately $2,571,060,000. Deutsche Bank AG acquired a new stake in shares of Bank of America in the 2nd quarter valued at $2,359,172,000. Bank of New York Mellon Corp acquired a new stake in shares of Bank of America in the 2nd quarter valued at $2,313,953,000. Amundi boosted its holdings in shares of Bank of America by 12.5% in the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bank of America by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider's stock valued at $1,517,599,000 after purchasing an additional 561,413 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America declared a quarterly common-stock dividend of $0.32 per share, payable December 24 to shareholders of record on December 4. The continued payout supports the investment case for income-oriented shareholders. Bank of America Declares Fourth Quarter 2026 Stock Dividends
• Positive Sentiment: The bank appointed Jim Fitterling and Bill Thomas to its board, expanding the board from 12 to 14 directors. The additions may strengthen oversight and bring further industrial and corporate leadership experience. Bank of America Names Jim Fitterling and Bill Thomas to Board of Directors
• Neutral Sentiment: Bank of America’s wealth-management franchise remains a diversification benefit: Global Wealth and Investment Management generated approximately $1.41 billion in second-quarter net income, or about 16% of company earnings. Bank of America Wealth Business
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged disclosures surrounding Bank of America’s anti-money-laundering compliance issues and a reported $1.2 billion Treasury penalty. The repeated announcements increase reputational and potential litigation risk, although the allegations have not been proven. Lead-plaintiff motions are due December 15, 2026. ROSEN Bank of America Securities Class Action
• Negative Sentiment: The latest reported quarter also fell slightly short of expectations, with earnings of $1.08 per share versus a $1.10 consensus and revenue of $29.96 billion versus $30.58 billion. That performance may limit near-term enthusiasm despite year-over-year revenue growth.

Bank of America Stock Performance

Shares of Bank of America stock opened at $50.81 on Thursday. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $355.29 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.88 and a beta of 1.21. The company's 50 day moving average price is $58.24 and its two-hundred day moving average price is $56.78.

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 analysts' consensus estimates of $1.10 by ($0.02). The company had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities analysts forecast that Bank of America Corporation will post 4.54 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of $0.32 per share. This is a positive change from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. Bank of America's dividend payout ratio (DPR) is 30.40%.

Analyst Ratings Changes

BAC has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Royal Bank Of Canada dropped their price objective on Bank of America from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. 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. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research note on Monday. Finally, Citigroup lowered their target price on Bank of America from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, October 15th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.82.

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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