Bank of America Corporation $BAC Stock: Curated Wealth Partners LLC Lowers Position

Key Points

• Curated Wealth Partners LLC cut its Bank of America position by 86.3% in the third quarter, selling 216,478 shares and retaining 34,444 shares valued at approximately $1.875 million.
• Bank of America’s third-quarter adjusted EPS of $1.08 and revenue of $29.96 billion missed analyst estimates, partly reflecting a $1.2 billion regulatory charge and weakness in fixed-income trading and investment banking.
• Despite near-term challenges, management expects at least 8% net interest income growth in 2027, while the bank raised its quarterly dividend to $0.32 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $62.78.

Curated Wealth Partners LLC decreased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 86.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,444 shares of the financial services provider's stock after selling 216,478 shares during the period. Curated Wealth Partners LLC's holdings in Bank of America were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BAC. Bamco Inc. NY boosted its stake in shares of Bank of America by 45.4% in the 2nd 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 during the period. E Fund Management Co. Ltd. purchased a new position in Bank of America during the 2nd quarter worth $4,089,000. Bernicke Wealth Management Ltd. acquired a new stake in shares of Bank of America during the second quarter worth $2,132,000. Legacy Private Trust Co. boosted its holdings in Bank of America by 11.7% in the 3rd quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider's stock valued at $6,267,000 after purchasing an additional 12,016 shares in the last quarter. Finally, Nykredit A S purchased a new stake in Bank of America during the second quarter worth about $94,447,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

More Bank of America News

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

• Positive Sentiment: Management expects at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Third-quarter net interest income rose 8% year over year to approximately $16.4 billion, while average loans increased 6% and deposits grew 2%. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management were relative bright spots. Wealth-management revenue increased 13% year over year, and the bank returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
• Positive Sentiment: Robert W. Baird upgraded BAC to “outperform” with a $62 target, while Keefe, Bruyette & Woods maintained “outperform” with a $65 target. These targets imply meaningful upside from recent trading levels.
• Neutral Sentiment: Management said it is addressing software and compliance weaknesses, including hiring roughly 1,000 contractors to patch vulnerabilities identified by Anthropic’s Mythos AI model. The added remediation work increases near-term costs but could reduce operational risk over time. Bank of America hired 1,000 contractors to patch software flaws
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Reported EPS was $0.91, down from $1.04 a year earlier, after a $1.2 billion non-tax-deductible regulatory charge. Bank of America profit hurt by $1.2 billion fine
• Negative Sentiment: Regulators cited failures to report more than $5 billion in suspicious transactions and sanctions-compliance violations, producing penalties exceeding $1.2 billion and raising concerns about lingering compliance costs and management oversight.
• Negative Sentiment: Fixed-income trading revenue fell 17%, investment-banking activity weakened, and expenses grew faster than revenue. TD Cowen cut its target to $56 and Morgan Stanley reduced its target to $61, reflecting continued earnings and cost concerns.

Bank of America Trading Up 0.8%

Bank of America stock traded up $0.42 during midday trading on Thursday, hitting $51.81. 19,223,709 shares of the stock were exchanged, compared to its average volume of 37,502,891. The stock has a market capitalization of $362.27 billion, a PE ratio of 11.88, a P/E/G ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $59.51 and a two-hundred day simple moving average of $56.69. 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 posted its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.02). Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $29.96 billion during the quarter, compared to analyst estimates of $30.58 billion. During the same quarter last year, the business earned $1.06 earnings per share. Bank of America's revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts anticipate that Bank of America Corporation will post 4.60 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America's payout ratio is 29.36%.

Wall Street Analyst Weigh In

Several research firms have commented on BAC. HSBC initiated coverage on Bank of America in a report on Monday, September 28th. They issued a "buy" rating and a $65.00 price target for the company. Evercore set a $62.00 target price on shares of Bank of America in a report on Thursday, October 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Barclays cut their price objective on Bank of America from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, TD Cowen reduced their price objective on Bank of America from $60.00 to $56.00 and set a "hold" rating for the company in a research note on Thursday. Twenty research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and a consensus price target of $62.78.

Bank of America 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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