Bank of America Corporation $BAC Holdings Cut by Keybank National Association OH

Key Points

• Keybank National Association OH cut its Bank of America stake by 1.2% in the third quarter, selling 44,956 shares. It held 3,706,363 shares, valued at about $201.7 million.
• Other institutional investors reported increasing their holdings, and institutions collectively owned 70.71% of BAC shares.
• Bank of America’s latest quarterly earnings and revenue fell short of analyst estimates, although revenue rose 3.2% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $62.48.

Keybank National Association OH lessened its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,706,363 shares of the financial services provider's stock after selling 44,956 shares during the quarter. Keybank National Association OH owned about 0.05% of Bank of America worth $201,737,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BAC. Csenge Advisory Group grew its holdings in shares of Bank of America by 13.1% in the third quarter. Csenge Advisory Group now owns 36,075 shares of the financial services provider's stock worth $1,964,000 after acquiring an additional 4,179 shares during the period. D Orazio & Associates Inc. increased its position in Bank of America by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 6,100 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 231 shares during the last quarter. Gen Wealth Partners Inc increased its position in Bank of America by 13.2% during the third quarter. Gen Wealth Partners Inc now owns 19,804 shares of the financial services provider's stock valued at $1,078,000 after acquiring an additional 2,304 shares during the last quarter. Cpwa LLC lifted its holdings in Bank of America by 4.2% in the third quarter. Cpwa LLC now owns 6,826 shares of the financial services provider's stock valued at $373,000 after acquiring an additional 276 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its holdings in Bank of America by 1.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 267,640 shares of the financial services provider's stock valued at $14,568,000 after acquiring an additional 3,541 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Bank of America News Summary

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

Analyst Upgrades and Downgrades

BAC has been the topic of several research reports. Wells Fargo & Company dropped their target price on Bank of America from $69.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research report on Monday, October 19th. Truist Financial reduced their price target on shares of 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. HSBC assumed coverage on shares of 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. Finally, Citigroup dropped their price objective on shares of Bank of America from $66.00 to $60.00 and set a "buy" rating on the stock 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.48.

Bank of America Price Performance

Shares of NYSE:BAC opened at $50.72 on Wednesday. The company 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. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The firm's 50 day simple moving average is $54.78 and its two-hundred day simple moving average is $54.87. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.15% and a net margin of 16.80%. The firm had revenue of $29.96 billion during the quarter, compared to analysts' expectations of $30.58 billion. During the same period last year, the company earned $1.06 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts expect that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders 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 dividend payout ratio is presently 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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