Bank of America Corporation $BAC Stock: Evergreen Capital Management LLC Cuts Stake

Evergreen Capital Management LLC trimmed its position in Bank of America Corporation (NYSE:BAC - Free Report) by 13.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,563 shares of the financial services provider's stock after selling 52,159 shares during the quarter. Evergreen Capital Management LLC's holdings in Bank of America were worth $18,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. bought a new stake in shares of Bank of America during the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC lifted its stake in shares of 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 valued at $27,000 after buying an additional 300 shares in the last quarter. Principia Wealth Advisory LLC lifted its stake in shares of Bank of America by 69.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider's stock valued at $30,000 after buying an additional 218 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Bank of America in the 2nd quarter worth $34,000. Finally, Compass Wealth Management LLC bought a new position in Bank of America in the 3rd quarter worth $36,000. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $50.59 on Friday. The firm has a market cap of $353.78 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 0.88 and a beta of 1.21. The firm has a fifty day moving average price of $57.70 and a 200 day moving average price of $56.75. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82.

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 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 business's revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. As a group, sell-side analysts expect that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. HSBC started coverage on Bank of America in a research note on Monday, September 28th. They issued a "buy" rating and a $65.00 price target for the company. Barclays lowered their price objective on Bank of America from $72.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. Citigroup dropped their price objective on Bank of America from $66.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, October 15th. Phillip Securities upgraded Bank of America to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Oppenheimer downgraded Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and a consensus target price of $62.82.

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.

About Bank of America

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.

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