Bank of America Corporation $BAC Stock Purchased by Davis Rea LTD.

Key Points

• Davis Rea LTD. increased its Bank of America stake by 27.2% in the third quarter, reaching 315,849 shares valued at approximately $17.2 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America shares recently fell 1.0% to $54.05, while analysts maintain a “Moderate Buy” consensus with an average price target of $64.22.
• The company raised its quarterly dividend from $0.28 to $0.32 per share, equivalent to a $1.28 annualized dividend and a 2.4% yield.

Davis Rea LTD. grew its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 27.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 315,849 shares of the financial services provider's stock after purchasing an additional 67,478 shares during the quarter. Bank of America comprises approximately 4.9% of Davis Rea LTD.'s holdings, making the stock its 8th largest holding. Davis Rea LTD.'s holdings in Bank of America were worth $17,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Financial Corp IN grew its position in shares of Bank of America by 38.9% during the 3rd quarter. First Financial Corp IN now owns 14,703 shares of the financial services provider's stock worth $800,000 after buying an additional 4,121 shares during the period. Accel Wealth Management raised its position in shares of Bank of America by 6.4% in the 3rd quarter. Accel Wealth Management now owns 19,563 shares of the financial services provider's stock valued at $1,065,000 after acquiring an additional 1,172 shares during the period. Catalyst Private Wealth LLC bought a new position in Bank of America during the 3rd quarter worth approximately $425,000. Downshift Financial LLC boosted its stake in Bank of America by 29.8% during the 3rd quarter. Downshift Financial LLC now owns 1,020 shares of the financial services provider's stock worth $56,000 after acquiring an additional 234 shares during the last quarter. Finally, St. Clair Advisors LLC boosted its stake in Bank of America by 41.4% during the 3rd quarter. St. Clair Advisors LLC now owns 7,862 shares of the financial services provider's stock worth $428,000 after acquiring an additional 2,302 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Down 1.0%

Shares of BAC traded down $0.53 on Tuesday, hitting $54.05. The company's stock had a trading volume of 44,924,449 shares, compared to its average volume of 37,191,953. The firm's fifty day moving average price is $59.75 and its 200-day moving average price is $56.67. 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 quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $377.93 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, equities research analysts expect that Bank of America Corporation will post 4.61 EPS for the current year.

Bank of America Increases Dividend

The business 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. This represents a $1.28 annualized dividend and a dividend yield of 2.4%. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. Bank of America's dividend payout ratio is currently 29.36%.

Trending Headlines about Bank of America

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

Wall Street Analyst Weigh In

Several brokerages have commented on BAC. Jefferies Financial Group lowered their target price on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. Robert W. Baird lifted their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their price target on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Finally, Citigroup upped their price objective on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Nineteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.22.

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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