Bank of America Corporation $BAC Stock Purchased by Viking Fund Management LLC

Key Points

• Viking Fund Management increased its Bank of America stake by 5.8% in the third quarter, purchasing 15,000 additional shares for a total of 275,000 shares valued at approximately $15.0 million.
• Bank of America shares were trading at $51.40, down 4.7%, after the company reported quarterly EPS of $1.08 and revenue of $29.96 billion, both below analyst expectations.
• The company raised its quarterly dividend to $0.32 per share, or $1.28 annually, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $64.22.

Viking Fund Management LLC raised its stake in Bank of America Corporation (NYSE:BAC) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,000 shares of the financial services provider's stock after purchasing an additional 15,000 shares during the period. Bank of America accounts for approximately 1.2% of Viking Fund Management LLC's investment portfolio, making the stock its 24th biggest position. Viking Fund Management LLC's holdings in Bank of America were worth $14,968,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BAC. Total Clarity Wealth Management Inc. lifted its stake in shares of Bank of America by 3.6% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider's stock worth $279,000 after buying an additional 168 shares during the last quarter. Orca Wealth Management LLC grew its stake in Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock valued at $1,999,000 after buying an additional 179 shares during the last quarter. Financial Consulate Inc. raised its holdings in Bank of America by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 181 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Bank of America by 1.1% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider's stock valued at $938,000 after acquiring an additional 184 shares during the period. Finally, GatePass Capital LLC boosted its holdings in shares of Bank of America by 3.6% during the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock worth $266,000 after acquiring an additional 190 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Down 4.7%

NYSE BAC opened at $51.40 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market cap of $359.45 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.87 and a beta of 1.21. The company has a 50 day moving average of $59.51 and a 200-day moving average of $56.69. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.02). Bank of America had a return on equity of 12.20% and a net margin of 17.56%. 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 company earned $1.06 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Bank of America Corporation will post 4.60 earnings per share for the current fiscal year.

Bank of America Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group decreased their target price on Bank of America from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Barclays boosted their price target on Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $72.00 price objective on Bank of America in a report on Tuesday, October 6th. Evercore set a $62.00 price objective on Bank of America in a research report on Thursday, October 1st. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Bank of America in a research report on Thursday. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.22.

Bank of America News Summary

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

• Positive Sentiment: Underlying banking trends were solid: net interest income rose 8% year over year to $16.4 billion, average loans increased 6% to $1.23 trillion, and deposits grew 2% to $2.02 trillion. Global wealth and investment management revenue also increased 13%. Bank of America Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Bank of America returned $8.3 billion to shareholders during the quarter through $2.2 billion of dividends and $6.0 billion of share repurchases, which may support the stock’s valuation after the selloff. Bank of America Reports $6.9 Billion Third-Quarter Net Income
• Neutral Sentiment: CEO Brian Moynihan said the company has accountability for the compliance failures and expects remediation costs to decline over time. BAC also hired roughly 1,000 contractors to address software vulnerabilities identified by Anthropic’s Mythos AI model, adding to near-term expenses but potentially reducing operational risk. Bank of America hired 1,000 contractors to patch software flaws
• Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties over anti-money-laundering and sanctions-control failures, including a failure to timely report more than $5 billion in suspicious transactions. The non-tax-deductible charge reduced quarterly earnings by approximately $0.17 per share and raises concerns about ongoing compliance costs. Bank of America profit hurt by $1.2 billion fine
• Negative Sentiment: Adjusted EPS was $1.08 versus the $1.10 consensus, while revenue of roughly $30.0 billion missed estimates near $30.6 billion. Reported net income fell 17% year over year to $6.9 billion, and weaker investment-banking and trading revenue, higher expenses, and a $1.3 billion provision for credit losses compounded the disappointment. BAC Q3 Earnings Miss
• Negative Sentiment: Several law firms announced shareholder investigations following the regulatory disclosures, creating an additional headline and potential litigation risk, although no claims have been established. Securities Fraud Investigation Into Bank of America

Bank of America Company 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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