12,555 Shares in Bank of America Corporation $BAC Bought by StoneRidge PMG Advisors LLC

Key Points

• StoneRidge PMG Advisors initiated a Bank of America position, buying 12,555 shares valued at approximately $683,000 in the third quarter. Institutional investors collectively own 70.71% of the company’s stock.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $62.48; the stock recently opened at $49.54.
• Bank of America’s latest quarter fell short of earnings and revenue estimates, though revenue grew 3.2% year over year. It announced a quarterly dividend of $0.32 per share, equivalent to a 2.6% yield.

StoneRidge PMG Advisors LLC purchased a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,555 shares of the financial services provider's stock, valued at approximately $683,000.

Several other large investors have also recently modified their holdings of BAC. Burton Enright Welch increased its stake in shares of Bank of America by 5.4% in the third quarter. Burton Enright Welch now owns 56,451 shares of the financial services provider's stock valued at $3,073,000 after buying an additional 2,878 shares during the period. Bryn Mawr Trust Advisors LLC raised its position in shares of Bank of America by 2.8% during the third quarter. Bryn Mawr Trust Advisors LLC now owns 26,330 shares of the financial services provider's stock worth $1,433,000 after acquiring an additional 728 shares during the last quarter. Avion Wealth lifted its stake in shares of Bank of America by 46.6% in the third quarter. Avion Wealth now owns 3,688 shares of the financial services provider's stock worth $200,000 after acquiring an additional 1,172 shares during the period. Hohimer Wealth Management LLC lifted its stake in shares of Bank of America by 4.6% in the third quarter. Hohimer Wealth Management LLC now owns 22,115 shares of the financial services provider's stock worth $1,204,000 after acquiring an additional 968 shares during the period. Finally, University of Texas Texas AM Investment Management Co. lifted its stake in shares of Bank of America by 3,962.9% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 240,079 shares of the financial services provider's stock worth $13,068,000 after acquiring an additional 234,170 shares during the period. Institutional investors own 70.71% of the company's stock.

Analysts Set New Price Targets

BAC has been the topic of several analyst reports. Rothschild & Co Redburn set a $72.00 target price on Bank of America in a report on Tuesday, October 6th. Wells Fargo & Company lowered their price target on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Truist Financial dropped their price target on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, October 15th. Evercore set a $62.00 price target on shares of Bank of America in a research report on Thursday, October 1st. Finally, Morgan Stanley reduced their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock 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. According to MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $62.48.

Bank of America News Summary

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

• Positive Sentiment: Bank of America may have room to grow revenue by offering more banking products to Merrill clients, supported by rising wealth balances and lending growth. Read article: BAC Sees Untapped Merrill Banking Potential
• Neutral Sentiment: Consumer banking chief Holly O’Neill expressed optimism about AI’s potential for financial innovation, but the interview did not announce a specific initiative or financial target. Read article: Bank of America’s Holly O’Neill on AI
• Negative Sentiment: A securities class action has been filed on behalf of investors who acquired BAC shares from August 1, 2025, through October 13, 2026. The suit alleges misleading statements; the claims have not been proven. The lead-plaintiff deadline is December 15, adding legal and reputational uncertainty. Read article: Securities class action notice
• Negative Sentiment: Investor-law-firm notices also spotlight Senator Elizabeth Warren’s call for a Justice Department criminal investigation following the bank’s admission that it willfully violated federal anti-money-laundering laws. Further scrutiny could increase legal, compliance, and reputational risks. Read article: BAC investor alert on regulatory scrutiny

Bank of America Stock Up 0.2%

Shares of NYSE BAC opened at $49.54 on Monday. 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 cap of $341.82 billion, a PE ratio of 11.77, a P/E/G ratio of 0.87 and a beta of 1.19. The company's fifty day simple moving average is $55.24 and its 200 day simple moving average is $54.89. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $30.58 billion. During the same period last year, the firm posted $1.06 earnings per share. The company's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.51 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. Bank of America's dividend payout ratio (DPR) is currently 30.40%.

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.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.

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