190,000 Shares of Bank of America Corporation $BAC Bought by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. bought 190,000 Bank of America shares in the third quarter, valued at about $10.3 million; BAC now represents roughly 1.2% of the trust’s portfolio.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $62.48; recent firms adjusted targets while largely maintaining positive ratings.
• Bank of America reported quarterly EPS of $1.08, slightly below estimates, and revenue of $29.96 billion, also below expectations. It declared a quarterly dividend of $0.32 per share, equivalent to a 2.5% annualized yield.

Inspire Trust Co. N.A. bought a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 190,000 shares of the financial services provider's stock, valued at approximately $10,342,000. Bank of America comprises approximately 1.2% of Inspire Trust Co. N.A.'s holdings, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of BAC. Legal & General Group Plc bought a new position in Bank of America in the 2nd quarter valued at about $2,571,060,000. Deutsche Bank AG bought a new stake in shares of Bank of America during the second quarter worth approximately $2,359,172,000. Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the second quarter worth approximately $2,313,953,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Bank of America in the second quarter valued at approximately $939,807,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Bank of America during the 2nd quarter worth approximately $916,398,000. Institutional investors own 70.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAC. JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $62.00 to $59.50 and set an "overweight" rating for the company in a research report on Friday, October 30th. Keefe, Bruyette & Woods dropped their target price on shares of Bank of America from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. HSBC initiated coverage on Bank of America in a research note on Monday, September 28th. They issued a "buy" rating and a $65.00 price objective on the stock. Robert W. Baird upgraded Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 price objective on the stock in a research report on Thursday, October 15th. Finally, Royal Bank Of Canada lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.48.

Key Headlines 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 Stock Up 0.3%

BAC stock opened at $50.72 on Wednesday. The stock's fifty day simple moving average is $54.78 and its two-hundred day simple moving average is $54.87. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The stock has a market cap of $349.95 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.89 and a beta of 1.19. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm 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 revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America's payout ratio 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.

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