Bank of America Corporation $BAC Shares Sold by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL cut its Bank of America stake by 6.4% in the third quarter, selling 10,020 shares and ending the period with 145,408 shares valued at about $7.9 million.
• Bank of America’s latest quarterly results fell short of estimates: EPS was $1.08 versus $1.10 expected, and revenue was $29.96 billion versus $30.58 billion forecast, though revenue rose 3.2% year over year.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 2.5% yield. Analysts’ consensus rating was “Moderate Buy,” with a $62.48 average price target.

UNIVEST FINANCIAL Corp trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,408 shares of the financial services provider's stock after selling 10,020 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Bank of America were worth $7,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Legal & General Group Plc acquired a new position in shares of Bank of America during the second quarter worth $2,571,060,000. Deutsche Bank AG bought a new stake in shares of Bank of America in the second quarter worth $2,359,172,000. Bank of New York Mellon Corp acquired a new stake in Bank of America in the second quarter valued at $2,313,953,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Bank of America in the second quarter valued at $939,807,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Bank of America in the second quarter valued at $916,398,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Down 0.0%

BAC opened at $50.67 on Thursday. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The company has a fifty day moving average of $54.56 and a 200-day moving average of $54.87. The stock has a market cap of $349.61 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17.

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 the consensus estimate of $1.10 by ($0.02). The firm had revenue of $29.96 billion during the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. Bank of America's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, sell-side analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Bank of America's dividend payout ratio (DPR) is 30.40%.

More Bank of America News

Investors following BAC have been watching these news items:

• Positive Sentiment: A comparison with Wells Fargo says Bank of America has an edge on earnings growth and valuation, though Wells Fargo has stronger recent share performance and return on equity. Read article
• Neutral Sentiment: Bank of America’s market outlook includes caution about crowded trades, while its view that inflation could prompt a larger Federal Reserve rate hike points to potential rate volatility. These are broader market calls, not new BAC-specific financial forecasts. Read article Read article
• Negative Sentiment: Several law firms are publicizing the same securities class action against Bank of America, concerning investors who bought shares from August 1, 2025, through October 13, 2026. The lead-plaintiff deadline is December 15, 2026. The repeated alerts are not evidence of a new ruling, but the allegations and potential legal costs may weigh on sentiment. Read article Read article

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Bank of America from $62.00 to $59.50 and set an "overweight" rating on the stock in a report on Friday, October 30th. Royal Bank Of Canada reduced their price target on Bank of America from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Barclays decreased 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. Jefferies Financial Group lowered their price objective on Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, September 24th. Finally, Phillip Securities raised Bank of America to a "strong-buy" rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.48.

Bank of America Company 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.

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