12,000 Bank of America Corporation $BAC Shares Sold by MFF Capital Investments Ltd

Key Points

• MFF Capital Investments sold 12,000 Bank of America shares in the third quarter, trimming its position by 0.4%. It still holds about 2.83 million shares, worth approximately $154 million and representing 10.1% of the fund’s portfolio.
• Bank of America’s latest quarterly results fell short of estimates: EPS was $1.08 versus $1.10 expected, and revenue was $29.96 billion versus $30.58 billion expected. Revenue nevertheless grew 3.2% year over year.
• The bank declared a quarterly dividend of $0.32 per share, equivalent to a 2.5% yield. The article also flags potential headwinds, including inflation and rate-hike concerns, a shareholder lawsuit, and increased scrutiny of compliance practices.

MFF Capital Investments Ltd trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,829,547 shares of the financial services provider's stock after selling 12,000 shares during the period. Bank of America makes up approximately 10.1% of MFF Capital Investments Ltd's holdings, making the stock its 5th largest position. MFF Capital Investments Ltd's holdings in Bank of America were worth $154,012,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Bamco Inc. NY raised its holdings in Bank of America by 45.4% in the second quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock worth $2,336,000 after buying an additional 12,794 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Bank of America during the second quarter valued at approximately $4,089,000. Bernicke Wealth Management Ltd. purchased a new stake in shares of Bank of America during the second quarter valued at approximately $2,132,000. Aspiriant LLC grew its holdings in shares of Bank of America by 34.3% during the third quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider's stock valued at $2,660,000 after buying an additional 12,479 shares during the last quarter. Finally, Lakeshore Capital Group Inc. increased its position in shares of Bank of America by 111.8% during the third quarter. Lakeshore Capital Group Inc. now owns 33,642 shares of the financial services provider's stock valued at $1,831,000 after acquiring an additional 17,759 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Bank of America

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

• Neutral Sentiment: Bank of America warned that October inflation could leave the Federal Reserve behind the curve and open the door to a half-point rate hike in December. Higher rates can support bank lending income, but a sharp increase could also weigh on borrowers and the economy. Article: Fed May Be Falling Behind on Inflation
• Negative Sentiment: Several law firms repeated notices about a securities class action covering investors who bought BAC shares from August 1, 2025, through October 13, 2026; the lead-plaintiff deadline is December 15. The notices largely reiterate the same case, but the litigation and allegations that the bank misled investors add reputational and potential legal-cost risks. Article: Bank of America Shareholder Class Action
• Negative Sentiment: Reports also point to heightened scrutiny over the bank’s anti-money-laundering and sanctions compliance, including Senator Elizabeth Warren’s reported call for a Justice Department criminal probe. Any further investigation could increase legal and reputational risks, though the reports do not establish that a new probe has begun. Article: Bank of America Faces Scrutiny and Class Action
• Negative Sentiment: Berkshire Hathaway may have sold more Bank of America shares in the third quarter, according to clues from a filing. The possible sales could weigh on sentiment, although the article says the portfolio disclosure is still pending. Article: Berkshire Hathaway May Have Sold More Bank of America Stock

Bank of America Price Performance

Shares of NYSE:BAC opened at $50.72 on Wednesday. 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 stock has a market capitalization of $349.95 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19. The firm's 50 day moving average price is $54.78 and its 200-day moving average price is $54.87. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). The business had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. During the same quarter last year, the firm posted $1.06 earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America's dividend payout ratio (DPR) is currently 30.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BAC shares. HSBC began coverage on shares of Bank of America in a report on Monday, September 28th. They issued a "buy" rating and a $65.00 price objective for the company. 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, October 15th. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 target price for the company in a report on Thursday, October 15th. Truist Financial reduced their target price on Bank of America from $62.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, October 15th. Finally, Wells Fargo & Company decreased their price target on Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $62.48.

About Bank of America

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services. The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.

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