Bank of America Corporation $BAC Stock Acquired by Krilogy Financial LLC

Key Points

• Krilogy Financial increased its Bank of America stake by 20.7% in the third quarter, bringing its holdings to 101,684 shares valued at approximately $5.5 million. Institutional investors collectively own 70.71% of BAC.
• Analysts maintain a favorable outlook, with 19 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $64.22.
• Bank of America recently exceeded earnings expectations, reporting $1.21 in quarterly EPS and $31.56 billion in revenue, while raising its quarterly dividend to $0.32 per share. However, regulatory penalties are expected to create a $1.2 billion non-tax-deductible charge in third-quarter results.

Krilogy Financial LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 20.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,684 shares of the financial services provider's stock after purchasing an additional 17,411 shares during the quarter. Krilogy Financial LLC's holdings in Bank of America were worth $5,535,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BAC. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America during the 2nd quarter worth about $25,000. Abound Financial LLC purchased a new position in shares of Bank of America in the 4th quarter valued at $26,000. Cherry Tree Wealth Management LLC lifted its position in Bank of America by 167.6% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider's stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Principia Wealth Advisory LLC boosted its holdings in Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new position in Bank of America during the 2nd quarter worth approximately $34,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. HSBC assumed coverage on shares of Bank of America in a research note on Monday, September 28th. They set a "buy" rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Bank of America from $68.00 to $62.00 and set an "overweight" rating on the stock in a research report on Friday, October 2nd. Jefferies Financial Group decreased their price target on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, September 24th. Argus set a $70.00 target price on Bank of America in a report on Wednesday, July 15th. Finally, Morgan Stanley restated an "overweight" rating on shares of Bank of America in a research report on Tuesday, September 15th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.22.

Bank of America Stock Performance

BAC opened at $54.05 on Wednesday. The company has a market cap of $377.93 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50-day moving average of $59.75 and a 200-day moving average of $56.67. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business's revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, equities research analysts forecast that Bank of America Corporation will post 4.60 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is presently 29.36%.

Bank of America News Summary

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

• Positive Sentiment: Bank of America’s most recent quarterly results exceeded expectations, with earnings per share of $1.21 versus the $1.13 consensus and revenue of $31.56 billion, up 19.6% year over year. Investors may look for continued revenue and lending strength in the upcoming report. Bank of America earnings outlook
• Neutral Sentiment: Bank of America is scheduled to report third-quarter results before the market opens on October 14. Analysts are focused on net interest income, lending growth, funding costs and management’s outlook amid elevated Treasury yields and broader weakness in bank stocks. Bank of America Q3 earnings preview
• Neutral Sentiment: Analyst estimates were modestly reduced by Erste Group Bank, which lowered its 2026 earnings forecast to $4.55 per share from $4.64 and its 2027 forecast to $5.22 from $5.25. The 2026 estimate is slightly below the broader consensus of $4.61. Bank of America earnings estimates
• Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties after finding that Bank of America failed to properly monitor transactions and timely report more than $5 billion in suspicious activity. The OCC’s $750 million penalty was described as its largest civil money penalty against a bank, while a separate $11.6 million settlement covered more than 400 apparent sanctions violations involving countries including Russia and Iran. Bank of America anti-money-laundering penalties
• Negative Sentiment: Bank of America said the enforcement action will create a $1.2 billion non-tax-deductible charge in third-quarter results, reducing quarterly earnings by approximately $0.17 per share. The penalty also raises concerns about compliance costs, remediation efforts and potential reputational damage. Bank of America third-quarter charge

Bank of America Company 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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