Bank of America Corporation $BAC Stock Position Lowered by Bahl & Gaynor LLC

Key Points

• Bahl & Gaynor reduced its Bank of America stake by 4% in the third quarter, selling 46,781 shares; it held 1.13 million shares valued at about $61.7 million at quarter-end.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $62.48, despite several firms lowering their targets.
• Bank of America reported quarterly EPS of $1.08 and revenue of $29.96 billion, both below analyst expectations, although revenue rose 3.2% year over year. It also announced a $0.32 quarterly dividend.

Bahl & Gaynor LLC cut its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,132,886 shares of the financial services provider's stock after selling 46,781 shares during the quarter. Bahl & Gaynor LLC's holdings in Bank of America were worth $61,663,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAC. Legal & General Group Plc purchased a new stake in Bank of America in the 2nd quarter valued at $2,571,060,000. Deutsche Bank AG purchased a new position in shares of Bank of America during the 2nd quarter worth $2,359,172,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America during the 2nd quarter worth $2,313,953,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Bank of America during the 2nd quarter worth $939,807,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Bank of America during the 2nd quarter valued at about $916,398,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BAC shares. Wells Fargo & Company cut 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 report on Thursday, October 15th. Morgan Stanley dropped 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 research note on Thursday, October 15th. Barclays cut their price target on shares of Bank of America from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Thursday, October 15th. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Finally, HSBC started coverage on shares of Bank of America in a research report on Monday, September 28th. They set a "buy" rating and a $65.00 price target on the stock. One research 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.48.

Bank of America Stock Up 0.3%

Shares of BAC opened at $50.72 on Wednesday. The company's 50-day moving average price is $54.78 and its 200 day moving average price is $54.87. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The firm has a market cap of $349.95 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company had revenue of $29.96 billion for the quarter, compared to analysts' expectations of $30.58 billion. During the same period last year, the business earned $1.06 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Dividend Announcement

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 given a dividend of $0.32 per share. The ex-dividend date of this dividend 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%.

Key Stories Impacting Bank of America

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

• Neutral Sentiment: Bank of America warned that October inflation could leave the Federal Reserve behind the curve and open the door to a half-point rate hike in December. Higher rates can support bank lending income, but a sharp increase could also weigh on borrowers and the economy. Article: Fed May Be Falling Behind on Inflation
• Negative Sentiment: Several law firms repeated notices about a securities class action covering investors who bought BAC shares from August 1, 2025, through October 13, 2026; the lead-plaintiff deadline is December 15. The notices largely reiterate the same case, but the litigation and allegations that the bank misled investors add reputational and potential legal-cost risks. Article: Bank of America Shareholder Class Action
• Negative Sentiment: Reports also point to heightened scrutiny over the bank’s anti-money-laundering and sanctions compliance, including Senator Elizabeth Warren’s reported call for a Justice Department criminal probe. Any further investigation could increase legal and reputational risks, though the reports do not establish that a new probe has begun. Article: Bank of America Faces Scrutiny and Class Action
• Negative Sentiment: Berkshire Hathaway may have sold more Bank of America shares in the third quarter, according to clues from a filing. The possible sales could weigh on sentiment, although the article says the portfolio disclosure is still pending. Article: Berkshire Hathaway May Have Sold More Bank of America Stock

About Bank of America

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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