84,230 Bank of America Corporation $BAC Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. cut its Bank of America stake by 31.6% in the third quarter, selling 84,230 shares and retaining 182,730 shares valued at about $9.95 million.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $62.48; 19 analysts rated the stock Buy or Strong Buy, while six rated it Hold.
• Bank of America’s latest quarterly results fell short of EPS and revenue estimates, although revenue rose 3.2% year over year. The company announced a $0.32-per-share quarterly dividend.

Lockheed Martin Investment Management Co. lessened its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 31.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,730 shares of the financial services provider's stock after selling 84,230 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Bank of America were worth $9,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new stake in Bank of America in the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC boosted its stake in Bank of America by 167.6% in the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider's stock worth $27,000 after buying an additional 300 shares in the last quarter. Principia Wealth Advisory LLC grew its position in Bank of America by 69.9% during the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Balance Wealth Partners LLC bought a new position in Bank of America during the third quarter valued at approximately $33,000. Finally, Frazier Financial Advisors LLC bought a new position in Bank of America during the second quarter valued at approximately $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BAC shares. JPMorgan Chase & Co. decreased 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 note on Friday, October 30th. Rothschild & Co Redburn set a $72.00 price objective on shares of Bank of America in a research note on Tuesday, October 6th. Argus set a $70.00 target price on shares of Bank of America in a report on Wednesday, July 15th. Phillip Securities upgraded shares of Bank of America to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Evercore set a $62.00 price target on shares of Bank of America in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Bank of America has an average rating of "Moderate Buy" and an average target price of $62.48.

Bank of America Trading Up 2.3%

NYSE:BAC opened at $50.57 on Tuesday. The company has a 50-day moving average price of $55.01 and a 200-day moving average price of $54.88. The stock has a market cap of $348.95 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 0.91 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 12 month low of $46.12 and a 12 month high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly 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). 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 for the quarter, compared to analysts' expectations of $30.58 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. Bank of America's quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America's dividend payout ratio is 30.40%.

Key Bank of America News

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

• Neutral Sentiment: Bank of America’s inflation forecast—monthly headline and core CPI increases of about 0.2%—could reinforce expectations of a December Federal Reserve rate hike. The effect on BAC is uncertain, as higher rates can support lending revenue but may also weigh on borrowers and funding costs. October inflation outlook
• Neutral Sentiment: A filing may indicate Berkshire Hathaway sold more BAC shares in the third quarter, but the report describes this as a possibility, not a confirmed sale. If verified, selling could add pressure to the stock. Berkshire Hathaway holdings report
• Negative Sentiment: Several law firms publicized a securities class action against Bank of America for investors who bought shares from August 1, 2025, through October 13, 2026. The suit alleges securities-law violations; December 15, 2026, is the deadline to seek a lead-plaintiff role. The allegations are not proven, but the case adds potential legal costs and uncertainty. Kaplan Fox class action notice
• Negative Sentiment: Separate coverage says Senator Elizabeth Warren is urging a DOJ criminal probe related to the bank’s anti-money-laundering and sanctions-law violations. Further investigation could increase regulatory, legal, and reputational risks. Report on regulatory scrutiny

Bank of America Profile

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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