Bank of America Corporation $BAC Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial increased its Bank of America position by 8.7% in the third quarter, adding 115,865 shares to own 1.45 million shares valued at approximately $79.2 million.
• Institutional investors collectively own 70.71% of BAC, while analysts maintain a “Moderate Buy” consensus with an average price target of $62.82 versus the reported share price of $50.81.
• Bank of America reported slightly weaker-than-expected quarterly results, with EPS of $1.08 and revenue of $29.96 billion, but declared a $0.32 quarterly dividend, equivalent to a 2.5% annualized yield.

Vest Financial LLC lifted its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,454,930 shares of the financial services provider's stock after acquiring an additional 115,865 shares during the quarter. Bank of America makes up 0.8% of Vest Financial LLC's investment portfolio, making the stock its 26th largest position. Vest Financial LLC's holdings in Bank of America were worth $79,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Bank of America in the second quarter valued at approximately $2,571,060,000. Amundi lifted its position in shares of Bank of America by 12.5% in the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock worth $2,066,274,000 after purchasing an additional 4,721,969 shares during the period. Deutsche Bank AG purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America in the second quarter worth $2,313,953,000. Finally, Dimensional Fund Advisors LP lifted its position in Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider's stock valued at $1,517,599,000 after acquiring an additional 561,413 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

Shares of BAC stock opened at $50.81 on Thursday. The company has a market capitalization of $355.29 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.88 and a beta of 1.21. The company's 50-day simple moving average is $58.24 and its two-hundred day simple moving average is $56.78. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. 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 posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). The company had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business's revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. As a group, equities analysts anticipate that Bank of America Corporation will post 4.54 EPS for the current year.

Bank of America Announces Dividend

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America declared a quarterly common-stock dividend of $0.32 per share, payable December 24 to shareholders of record on December 4. The continued payout supports the investment case for income-oriented shareholders. Bank of America Declares Fourth Quarter 2026 Stock Dividends
• Positive Sentiment: The bank appointed Jim Fitterling and Bill Thomas to its board, expanding the board from 12 to 14 directors. The additions may strengthen oversight and bring further industrial and corporate leadership experience. Bank of America Names Jim Fitterling and Bill Thomas to Board of Directors
• Neutral Sentiment: Bank of America’s wealth-management franchise remains a diversification benefit: Global Wealth and Investment Management generated approximately $1.41 billion in second-quarter net income, or about 16% of company earnings. Bank of America Wealth Business
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged disclosures surrounding Bank of America’s anti-money-laundering compliance issues and a reported $1.2 billion Treasury penalty. The repeated announcements increase reputational and potential litigation risk, although the allegations have not been proven. Lead-plaintiff motions are due December 15, 2026. ROSEN Bank of America Securities Class Action
• Negative Sentiment: The latest reported quarter also 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. That performance may limit near-term enthusiasm despite year-over-year revenue growth.

Wall Street Analysts Forecast Growth

BAC has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. Barclays cut their price target on Bank of America from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, October 15th. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $72.00 price objective on Bank of America in a research note on Tuesday, October 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Bank of America from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Thursday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $62.82.

Bank of America 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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