Bank of America Corporation $BAC Stock Position Reduced by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its Bank of America position by 3.3% in the third quarter, selling 37,008 shares and retaining 1.08 million shares valued at approximately $58.6 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America’s latest quarterly results slightly missed expectations, with earnings of $1.08 per share versus $1.10 expected and revenue of $29.96 billion versus $30.58 billion forecast, although revenue increased 3.2% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $62.82 price target. The company also raised its quarterly dividend to $0.32 per share, equivalent to a 2.5% annual yield.

Crossmark Global Holdings Inc. lowered its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,077,185 shares of the financial services provider's stock after selling 37,008 shares during the quarter. Bank of America accounts for 0.7% of Crossmark Global Holdings Inc.'s holdings, making the stock its 22nd biggest position. Crossmark Global Holdings Inc.'s holdings in Bank of America were worth $58,631,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAC. Bamco Inc. NY lifted its holdings 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. acquired a new stake in Bank of America in the second quarter valued at approximately $4,089,000. Bernicke Wealth Management Ltd. purchased a new stake in Bank of America in the 2nd quarter worth $2,132,000. Aspiriant LLC increased its stake in shares of Bank of America by 34.3% during the third quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider's stock worth $2,660,000 after purchasing an additional 12,479 shares in the last quarter. Finally, Lakeshore Capital Group Inc. increased its stake in Bank of America by 111.8% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 33,642 shares of the financial services provider's stock worth $1,831,000 after buying an additional 17,759 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America declared a quarterly common-stock dividend of $0.32 per share, payable December 24 to shareholders of record on December 4. The continued payout supports the investment case for income-oriented shareholders. Bank of America Declares Fourth Quarter 2026 Stock Dividends
• Positive Sentiment: The bank appointed Jim Fitterling and Bill Thomas to its board, expanding the board from 12 to 14 directors. The additions may strengthen oversight and bring further industrial and corporate leadership experience. Bank of America Names Jim Fitterling and Bill Thomas to Board of Directors
• Neutral Sentiment: Bank of America’s wealth-management franchise remains a diversification benefit: Global Wealth and Investment Management generated approximately $1.41 billion in second-quarter net income, or about 16% of company earnings. Bank of America Wealth Business
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged disclosures surrounding Bank of America’s anti-money-laundering compliance issues and a reported $1.2 billion Treasury penalty. The repeated announcements increase reputational and potential litigation risk, although the allegations have not been proven. Lead-plaintiff motions are due December 15, 2026. ROSEN Bank of America Securities Class Action
• Negative Sentiment: The latest reported quarter also fell slightly short of expectations, with earnings of $1.08 per share versus a $1.10 consensus and revenue of $29.96 billion versus $30.58 billion. That performance may limit near-term enthusiasm despite year-over-year revenue growth.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, October 15th. 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, October 15th. TD Cowen cut their target price on Bank of America from $60.00 to $56.00 and set a "hold" rating on the stock in a research report on Thursday, October 15th. Royal Bank Of Canada cut their price target on shares of Bank of America from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, October 15th. Finally, Rothschild & Co Redburn set a $72.00 price objective on Bank of America in a research report on Tuesday, October 6th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.82.

Bank of America Stock Up 0.3%

BAC opened at $50.81 on Thursday. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average price of $58.24 and a two-hundred day moving average price of $56.78. The company has a market cap of $355.29 billion, a PE ratio of 12.07, a P/E/G ratio of 0.88 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly 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 analyst estimates of $30.58 billion. During the same period in the prior year, the business earned $1.06 earnings per share. Bank of America's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Bank of America Corporation will post 4.54 EPS for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. This is an increase from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is 30.40%.

Bank of America Company 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.

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