Bank of America Corporation $BAC Stock Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC raised its position in Bank of America Corporation (NYSE:BAC) by 28.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 948,578 shares of the financial services provider's stock after buying an additional 212,157 shares during the quarter. Annex Advisory Services LLC's holdings in Bank of America were worth $51,631,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of Bank of America during the 2nd quarter worth approximately $2,571,060,000. Deutsche Bank AG bought a new position in Bank of America in the second quarter valued at approximately $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America in the second quarter valued at approximately $2,313,953,000. Amundi raised its position in Bank of America by 12.5% during the first quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Bank of America by 1.8% in 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 purchasing an additional 561,413 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. HSBC started coverage on shares of Bank of America in a report on Monday, September 28th. They issued a "buy" rating and a $65.00 target price for the company. Rothschild & Co Redburn set a $72.00 price target on shares of Bank of America in a report on Tuesday, October 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Bank of America from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group dropped their price objective on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. Twenty investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.52.

Bank of America Stock Performance

NYSE BAC opened at $51.28 on Friday. The company has a market capitalization of $358.59 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.84 and a beta of 1.21. 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 Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The stock has a fifty day simple moving average of $59.05 and a 200 day simple moving average of $56.69.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $1.06 earnings per share. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that Bank of America Corporation will post 4.57 EPS for the current year.

Bank of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a $0.32 dividend. The ex-dividend date was Friday, September 4th. This is a boost from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.5%. Bank of America's dividend payout ratio (DPR) is currently 29.36%.

Key Headlines Impacting Bank of America

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

About Bank of America

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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