102,148 Bank of America Corporation $BAC Shares Sold by Courier Capital LLC

Key Points

• Courier Capital LLC cut its Bank of America stake by 53.7% in the third quarter, selling 102,148 shares and retaining 88,244 shares valued at approximately $4.8 million. Institutional investors collectively own 70.71% of BAC.
• Analysts remain broadly positive, with 19 Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and an average price target of $64.22. BAC recently traded near $54.05, below its 12-month high of $65.22.
• Regulatory penalties pose a major near-term risk: Bank of America expects roughly a $1.2 billion third-quarter charge related to alleged failures to report suspicious transactions, while the bank is scheduled to report earnings on October 14.

Courier Capital LLC reduced its holdings in Bank of America Corporation (NYSE:BAC) by 53.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,244 shares of the financial services provider's stock after selling 102,148 shares during the period. Courier Capital LLC's holdings in Bank of America were worth $4,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its position in shares of Bank of America by 45.4% during the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock worth $2,336,000 after purchasing an additional 12,794 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Bank of America in the 2nd quarter valued at approximately $4,089,000. Bernicke Wealth Management Ltd. acquired a new stake in shares of Bank of America in the 2nd quarter valued at approximately $2,132,000. Legacy Private Trust Co. grew its stake in shares of Bank of America by 11.7% in the third quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider's stock valued at $6,267,000 after buying an additional 12,016 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Bank of America in the first quarter valued at $67,507,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Bank of America from $70.00 to $67.00 and set a "buy" rating on the stock in a report on Monday, October 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, July 21st. Citigroup lifted their price objective on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. HSBC assumed coverage on shares of Bank of America in a research note on Monday, September 28th. They set a "buy" rating and a $65.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Nineteen investment 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 an average rating of "Moderate Buy" and a consensus price target of $64.22.

Key Bank of America News

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

Bank of America Stock Performance

Shares of NYSE BAC traded down $0.53 during midday trading on Tuesday, hitting $54.05. 44,924,449 shares of the company's stock were exchanged, compared to its average volume of 37,191,953. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company's 50 day moving average price is $59.93 and its 200 day moving average price is $56.63. The firm has a market capitalization of $377.93 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the firm earned $0.89 EPS. The firm's revenue was up 19.6% compared to the same quarter last year. As a group, analysts predict that Bank of America Corporation will post 4.61 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.4%. 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. Bank of America's dividend payout ratio (DPR) is presently 29.36%.

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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