39,578 Bank of America Corporation $BAC Shares Sold by Philadelphia Trust Co.

Key Points

• Philadelphia Trust Co. cut its Bank of America stake by 21.2% in the third quarter, selling 39,578 shares and ending the period with 146,733 shares valued at about $7.99 million.
• Other institutional investors reported increasing their holdings, and institutions and hedge funds collectively owned 70.71% of BAC shares.
• Bank of America’s latest quarter missed analyst estimates for earnings per share and revenue, though revenue rose 3.2% year over year. The bank declared a quarterly dividend of $0.32 per share, equivalent to a 2.5% yield.

Philadelphia Trust Co. lowered its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 21.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 146,733 shares of the financial services provider's stock after selling 39,578 shares during the period. Philadelphia Trust Co.'s holdings in Bank of America were worth $7,987,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BAC. AMG National Trust Bank boosted its position in shares of Bank of America by 10.9% during the third quarter. AMG National Trust Bank now owns 48,877 shares of the financial services provider's stock worth $2,660,000 after buying an additional 4,805 shares during the period. Woodley Farra Manion Portfolio Management Inc. raised its holdings in shares of Bank of America by 42.6% in the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,025 shares of the financial services provider's stock valued at $274,000 after buying an additional 1,500 shares during the period. Lido Advisors LLC raised its holdings in shares of Bank of America by 15.2% in the 3rd quarter. Lido Advisors LLC now owns 647,855 shares of the financial services provider's stock valued at $35,263,000 after buying an additional 85,521 shares during the period. Csenge Advisory Group raised its holdings in shares of Bank of America by 13.1% in the 3rd quarter. Csenge Advisory Group now owns 36,075 shares of the financial services provider's stock valued at $1,964,000 after buying an additional 4,179 shares during the period. Finally, D Orazio & Associates Inc. lifted its stake in Bank of America by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 6,100 shares of the financial services provider's stock worth $332,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Roundup

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%

Bank of America stock opened at $50.72 on Wednesday. The firm has a market capitalization 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. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The stock's fifty day simple moving average is $54.78 and its 200-day simple moving average is $54.87.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $30.58 billion. During the same quarter last year, the business 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, equities analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAC. Argus set a $70.00 target price on Bank of America in a report on Wednesday, July 15th. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 price target on the stock in a research note on Thursday, October 15th. JPMorgan Chase & Co. reduced their price target on shares of Bank of America from $62.00 to $59.50 and set an "overweight" rating on the stock in a research report on Friday, October 30th. Truist Financial reduced 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. Finally, Jefferies Financial Group lowered their price objective on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus 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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