Bank of America Corporation $BAC Stock: BG Investment Services LLC Boosts Holdings

Key Points

• BG Investment Services LLC increased its Bank of America stake by 574.2% in the third quarter, bringing its holdings to 69,494 shares valued at approximately $3.78 million. Institutional investors collectively own 70.71% of BAC.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $62.82, although several firms recently lowered their targets. BAC was trading at $50.59, below the consensus target.
• Bank of America reported quarterly EPS of $1.08 and revenue of $29.96 billion, both slightly below analyst expectations. The company declared a quarterly dividend of $0.32 per share, equivalent to a 2.5% annualized yield.

BG Investment Services LLC lifted its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 574.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,494 shares of the financial services provider's stock after purchasing an additional 59,187 shares during the quarter. BG Investment Services LLC's holdings in Bank of America were worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Bank of America in the 2nd quarter valued at approximately $2,571,060,000. Amundi boosted its position in Bank of America by 12.5% in the first quarter. Amundi now owns 42,385,115 shares of the financial services provider's stock valued at $2,066,274,000 after buying an additional 4,721,969 shares in the last quarter. Deutsche Bank AG acquired a new stake in Bank of America in the second quarter valued at approximately $2,359,172,000. Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the second quarter worth $2,313,953,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bank of America by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider's stock worth $1,517,599,000 after buying an additional 561,413 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BAC. Morgan Stanley lowered their price target on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Phillip Securities upgraded Bank of America to a "strong-buy" rating in a research note on Friday, October 16th. HSBC initiated coverage on Bank of America in a report on Monday, September 28th. They set a "buy" rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on 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. Finally, Keefe, Bruyette & Woods lowered their target price on Bank of America from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.82.

Bank of America Stock Down 1.0%

NYSE:BAC opened at $50.59 on Friday. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $353.78 billion, a PE ratio of 12.02, a P/E/G ratio of 0.88 and a beta of 1.21. The firm's 50 day simple moving average is $57.70 and its 200 day simple moving average is $56.75.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly 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 business 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%. The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 earnings per share. On average, research analysts anticipate that Bank of America Corporation will post 4.52 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America's payout ratio is 30.40%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America declared a quarterly dividend of $0.32 per share, or $1.28 annualized, representing a yield of approximately 2.5%. The payout provides ongoing income support for shareholders. Bank of America dividend report
• Positive Sentiment: Brokerages’ average price target remains above the current trading range at approximately $62.82, suggesting analysts still see potential upside despite recent target reductions. Bank of America average price target
• Neutral Sentiment: Bank of America issued 80,000 shares of new 7.200% Series WW preferred stock. The transaction can strengthen regulatory capital, although the high fixed dividend creates an additional funding cost. Bank of America issues Series WW preferred stock
• Neutral Sentiment: The company appointed Jim Fitterling and Bill Thomas to its board, expanding it from 12 to 14 directors. The appointments may improve oversight, but investors have not yet been given a clear financial impact. Bank of America board appointments
• Negative Sentiment: Multiple law firms are promoting securities-fraud class actions covering investors who purchased BAC securities between August 1, 2025 and October 13, 2026. The lead-plaintiff deadline is December 15, 2026, increasing headline and potential financial risk. Bank of America securities class action
• Negative Sentiment: Analysts cut Bank of America’s FY2026 EPS estimate to $4.35 from $4.55 and FY2027 estimate to $5.15 from $5.22. A separate valuation update reduced fair value to $63.14 from $67.33, reflecting concerns about regulatory penalties and earnings assumptions. Bank of America fair value estimate
• Negative Sentiment: Recent earnings fell short of expectations, with EPS of $1.08 versus $1.10 expected and revenue of $29.96 billion versus a $30.58 billion forecast. More than $1.2 billion in anti-money-laundering penalties and renewed questions about CEO Brian Moynihan’s future are adding to investor uncertainty.

Bank of America 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.