Bank of America Corporation $BAC Stock Acquired by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management increased its Bank of America stake by 4.7% in the third quarter, adding 12,645 shares to hold 281,594 shares valued at about $15.3 million. Institutional investors collectively own 70.71% of the stock.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $62.48; one analyst rated the stock Strong Buy, 18 rated it Buy and six rated it Hold.
• Bank of America’s latest reported quarterly results fell short of consensus: EPS was $1.08 versus $1.10 expected, and revenue was $29.96 billion versus $30.58 billion expected. The company also declared a $0.32 quarterly dividend, equivalent to a 2.5% yield.

Ritholtz Wealth Management raised its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,594 shares of the financial services provider's stock after purchasing an additional 12,645 shares during the period. Ritholtz Wealth Management's holdings in Bank of America were worth $15,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC raised its stake in Bank of America by 2.9% during the third quarter. Joel Isaacson & Co. LLC now owns 68,239 shares of the financial services provider's stock worth $3,714,000 after acquiring an additional 1,926 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Bank of America by 7.0% in the third quarter. Jacobi Capital Management LLC now owns 185,185 shares of the financial services provider's stock worth $10,080,000 after acquiring an additional 12,096 shares during the last quarter. Silver Grove Financial Group Inc. boosted its stake in shares of Bank of America by 14.0% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 6,213 shares of the financial services provider's stock valued at $338,000 after purchasing an additional 763 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Bank of America by 1.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 606,908 shares of the financial services provider's stock valued at $33,034,000 after purchasing an additional 10,719 shares in the last quarter. Finally, Inspire Trust Co. N.A. acquired a new stake in shares of Bank of America in the 3rd quarter valued at approximately $10,342,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BAC shares. HSBC began coverage on shares of Bank of America in a report on Monday, September 28th. They set a "buy" rating and a $65.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, October 15th. UBS Group set a $62.00 target price on shares of Bank of America and gave the company a "buy" rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased 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. Finally, Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday, July 15th. One research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.48.

Key Headlines Impacting Bank of America

These are some of the BAC headlines that stood out recently:

• 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

Bank of America Stock Down 0.0%

Shares of BAC opened at $50.67 on Thursday. The company has a market capitalization of $349.61 billion, a PE ratio of 12.03, a PEG ratio of 0.89 and a beta of 1.19. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock's 50-day moving average price is $54.56 and its two-hundred day moving average price is $54.87. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $29.96 billion during 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 company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. On average, analysts anticipate that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The business 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America's payout ratio is currently 30.40%.

Bank of America 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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