Bank of America Corporation $BAC Stake Raised by Alta Advisers Ltd

Key Points

• Alta Advisers increased its Bank of America stake by 86.2% in the third quarter, ending the period with 48,321 shares valued at about $2.63 million. Institutional investors and hedge funds collectively own 70.71% of the stock.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $62.48; 19 analysts rate the stock Buy or Strong Buy, while six rate it Hold.
• Bank of America’s latest quarterly results fell short of estimates, with EPS of $1.08 versus $1.10 expected and revenue of $29.96 billion versus $30.58 billion expected. The company declared a quarterly dividend of $0.32 per share, equivalent to a 2.6% yield.

Alta Advisers Ltd increased its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 86.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,321 shares of the financial services provider's stock after buying an additional 22,365 shares during the quarter. Alta Advisers Ltd's holdings in Bank of America were worth $2,630,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bamco Inc. NY boosted its position in Bank of America by 45.4% in the second quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock valued at $2,336,000 after buying an additional 12,794 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in Bank of America during the second quarter worth about $4,089,000. Bernicke Wealth Management Ltd. acquired a new stake in shares of Bank of America during the second quarter worth approximately $2,132,000. Aspiriant LLC increased its holdings in shares of Bank of America by 34.3% during the third quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider's stock worth $2,660,000 after buying an additional 12,479 shares in the last quarter. Finally, Lakeshore Capital Group Inc. increased its holdings in shares of Bank of America by 111.8% during the third quarter. Lakeshore Capital Group Inc. now owns 33,642 shares of the financial services provider's stock worth $1,831,000 after buying an additional 17,759 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Rothschild & Co Redburn set a $72.00 target price on Bank of America in a report on Tuesday, October 6th. Royal Bank Of Canada decreased 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. Jefferies Financial Group dropped their price target on Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, September 24th. Morgan Stanley cut their price objective 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. Finally, Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 price objective on the stock in a research note 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 issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.48.

Key Bank of America News

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

• Negative Sentiment: Several law firms publicized a securities class action against Bank of America, covering investors who bought shares from August 1, 2025, to October 13, 2026, with a December 15 lead-plaintiff deadline. The notices add reputational and potential legal-cost concerns, though they do not establish liability. DJS Law Group lawsuit notice
• Negative Sentiment: News coverage reiterates that Senator Elizabeth Warren has urged a Justice Department criminal investigation after Bank of America admitted willful violations of federal anti-money-laundering laws and resolved enforcement actions. The possibility of further scrutiny may weigh on investor sentiment. Report on regulatory scrutiny
• Negative Sentiment: A report cited a pessimistic UBS outlook and another noted a downgrade of BAC, adding to the negative analyst backdrop. Report on analyst downgrade
• Negative Sentiment: Options traders were described as moderately bearish, while ETFs were net sellers of $21.6 million in BAC shares on November 3—signals of cautious positioning, though neither guarantees further weakness. Options-trading report ETF-flow report
• Negative Sentiment: The provided earnings background also shows a modest quarterly miss: EPS was $1.08 versus $1.10 expected, and revenue was $29.96 billion versus $30.58 billion expected, despite year-over-year revenue growth.

Bank of America Stock Down 3.3%

NYSE:BAC opened at $49.91 on Friday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $344.39 billion, a P/E ratio of 11.79, a P/E/G ratio of 0.91 and a beta of 1.19. The stock's fifty day simple moving average is $55.48 and its 200-day simple moving average is $54.90.

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 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 company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same period last year, the firm earned $1.06 earnings per share. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.6%. Bank of America's dividend payout ratio is 30.40%.

Bank of America Company 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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