Bank of America Corporation $BAC Shares Acquired by Aspiriant LLC

Key Points

• Aspiriant LLC increased its Bank of America stake by 34.3% in the third quarter, bringing its holdings to 48,877 shares valued at approximately $2.66 million. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America’s latest quarterly results fell slightly short of expectations, with earnings of $1.08 per share versus a $1.10 consensus and revenue of $29.96 billion versus $30.58 billion expected.
• The bank raised its quarterly common-stock dividend to $0.32 per share, equivalent to a 2.5% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $62.52, above the reported $51.28 share price.

Aspiriant LLC boosted its position in Bank of America Corporation (NYSE:BAC - Free Report) by 34.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,877 shares of the financial services provider's stock after buying an additional 12,479 shares during the period. Aspiriant LLC's holdings in Bank of America were worth $2,660,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BAC. Total Clarity Wealth Management Inc. grew its position in Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 168 shares during the period. Orca Wealth Management LLC lifted its position in Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock valued at $1,999,000 after acquiring an additional 179 shares in the last quarter. Financial Consulate Inc. lifted its position in Bank of America by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 181 shares in the last quarter. Bedel Financial Consulting Inc. boosted its stake in Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider's stock valued at $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC boosted its stake in Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 190 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of NYSE:BAC opened at $51.28 on Friday. The company has a 50 day moving average of $59.05 and a 200 day moving average of $56.69. 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 $358.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.84 and a beta of 1.21. 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 released its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($0.02). The firm had revenue of $29.96 billion for 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%. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.57 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.32 per share. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. 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 29.36%.

Bank of America News Summary

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

• Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BAC shares. Evercore set a $62.00 price target on Bank of America in a report on Thursday, October 1st. Royal Bank Of Canada cut their price objective on shares of Bank of America from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Thursday. TD Cowen cut their price objective on shares of Bank of America from $60.00 to $56.00 and set a "hold" rating on the stock in a report on Thursday. Rothschild & Co Redburn set a $72.00 target price on shares of Bank of America in a research note on Tuesday, October 6th. Finally, Barclays reduced their target price on shares of Bank of America from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday. Twenty analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $62.52.

Bank of America Profile

Bank of America Corporation NYSE: BAC is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.

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