25,388 Bank of America Corporation $BAC Shares Sold by Choreo LLC

Key Points

• Choreo LLC reduced its Bank of America stake by 1.4% in the third quarter, selling 25,388 shares while retaining 1.82 million shares valued at approximately $99.3 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America’s latest quarterly results slightly missed expectations, with EPS of $1.08 versus $1.10 estimated and revenue of $29.96 billion versus $30.58 billion expected. Revenue nonetheless increased 3.2% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 2.5% yield, while analysts maintain a “Moderate Buy” consensus and an average price target of $62.82.

Choreo LLC cut its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,824,256 shares of the financial services provider's stock after selling 25,388 shares during the quarter. Bank of America comprises approximately 1.0% of Choreo LLC's investment portfolio, making the stock its 21st biggest position. Choreo LLC's holdings in Bank of America were worth $99,294,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Interchange Capital Partners LLC increased its holdings in shares of Bank of America by 4.2% during the 3rd quarter. Interchange Capital Partners LLC now owns 23,494 shares of the financial services provider's stock worth $1,279,000 after buying an additional 942 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Bank of America during the 3rd quarter valued at approximately $48,000. Fonville Wealth Management LLC lifted its holdings in Bank of America by 39.6% in the third quarter. Fonville Wealth Management LLC now owns 5,058 shares of the financial services provider's stock valued at $275,000 after acquiring an additional 1,435 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its holdings in Bank of America by 32.9% in the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 5,013 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Creative Capital Management Investments LLC lifted its holdings in Bank of America by 54.2% in the third quarter. Creative Capital Management Investments LLC now owns 683 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Bank of America stock opened at $51.14 on Friday. The company's 50 day simple moving average is $56.68 and its 200-day simple moving average is $54.99. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The company has a market capitalization of $357.60 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21.

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 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 analysts' expectations 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 revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. As a group, equities research analysts expect that Bank of America Corporation will post 4.52 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be given 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%.

Key Bank of America News

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

• Positive Sentiment: Bank of America is expanding its branch network, opening its first financial centers in Wisconsin and planning entries into Alabama and Louisiana. The expansion is intended to increase deposit gathering, deepen customer relationships and extend in-person access to approximately 83% of Americans. Bank of America Opens First Financial Centers in Wisconsin
• Positive Sentiment: Analysts see potential for the bank’s artificial-intelligence investments, branch expansion and deposit growth to improve operating efficiency and support long-term earnings. Bank of America’s reported net-interest-income momentum and relatively attractive valuation also remain supportive factors, although expenses and trading volatility are risks. Can BAC's Branch Expansion and AI Push Drive Long-Term Growth?
• Neutral Sentiment: Bank of America economist Aditya Bhave now expects Federal Reserve rate increases in December 2026 and March 2027. Higher rates could benefit net-interest income, but they could also weigh on loan demand, credit quality and economic activity. BofA Shifts Fed Call to Rate Hikes
• Negative Sentiment: Multiple law firms publicized a securities-fraud class action against Bank of America and certain executives, alleging violations of federal securities laws following the bank’s previously reported penalties and stock selloff. Investors face a December 15, 2026 lead-plaintiff deadline. The announcements increase headline risk, potential litigation costs and reputational concerns, though the allegations have not been proven. Bank of America Corporation Sued for Securities Law Violations
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to open a criminal investigation into Bank of America and its executives over alleged anti-money-laundering failures. A formal probe or additional enforcement action could create further financial and compliance risks. Warren Urges DOJ Criminal Probe of Bank of America

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. Truist Financial lowered their price objective on Bank of America from $62.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, October 15th. Morgan Stanley reduced their target price on Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Jefferies Financial Group decreased their price target on Bank of America from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, September 24th. Evercore set a $62.00 price target on Bank of America in a report on Thursday, October 1st. Finally, Barclays lowered their price target on Bank of America from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.82.

Bank of America Company 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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