Bank of America Corporation $BAC Stock Sold by DMKC Advisory Services LLC

Key Points

• DMKC Advisory Services cut its Bank of America stake by 29.7% in the third quarter, selling 54,955 shares and ending the period with 130,141 shares worth about $7.08 million.
• Bank of America’s latest quarterly results fell short of estimates: EPS was $1.08 versus $1.10 expected, and revenue was $29.96 billion versus $30.58 billion expected, though revenue grew 3.2% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average target price of $62.48.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 2.5% yield.

DMKC Advisory Services LLC decreased its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,141 shares of the financial services provider's stock after selling 54,955 shares during the quarter. Bank of America makes up about 1.7% of DMKC Advisory Services LLC's investment portfolio, making the stock its 15th largest position. DMKC Advisory Services LLC's holdings in Bank of America were worth $7,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BAC. Cpwa LLC grew its stake in shares of Bank of America by 4.2% during the third quarter. Cpwa LLC now owns 6,826 shares of the financial services provider's stock valued at $373,000 after purchasing an additional 276 shares during the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Bank of America by 1.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 267,640 shares of the financial services provider's stock valued at $14,568,000 after purchasing an additional 3,541 shares in the last quarter. Pinion Investment Advisors LLC increased its holdings in shares of Bank of America by 4.6% in the third quarter. Pinion Investment Advisors LLC now owns 23,773 shares of the financial services provider's stock valued at $1,294,000 after purchasing an additional 1,042 shares in the last quarter. Montis Financial LLC raised its position in Bank of America by 1.7% in the 3rd quarter. Montis Financial LLC now owns 12,648 shares of the financial services provider's stock worth $688,000 after purchasing an additional 216 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc raised its position in Bank of America by 141.6% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 888,715 shares of the financial services provider's stock worth $48,373,000 after purchasing an additional 520,853 shares during the last quarter. Institutional investors and hedge funds 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:

• Neutral Sentiment: Bank of America’s inflation forecast—monthly headline and core CPI increases of about 0.2%—could reinforce expectations of a December Federal Reserve rate hike. The effect on BAC is uncertain, as higher rates can support lending revenue but may also weigh on borrowers and funding costs. October inflation outlook
• Neutral Sentiment: A filing may indicate Berkshire Hathaway sold more BAC shares in the third quarter, but the report describes this as a possibility, not a confirmed sale. If verified, selling could add pressure to the stock. Berkshire Hathaway holdings report
• Negative Sentiment: Several law firms publicized a securities class action against Bank of America for investors who bought shares from August 1, 2025, through October 13, 2026. The suit alleges securities-law violations; December 15, 2026, is the deadline to seek a lead-plaintiff role. The allegations are not proven, but the case adds potential legal costs and uncertainty. Kaplan Fox class action notice
• Negative Sentiment: Separate coverage says Senator Elizabeth Warren is urging a DOJ criminal probe related to the bank’s anti-money-laundering and sanctions-law violations. Further investigation could increase regulatory, legal, and reputational risks. Report on regulatory scrutiny

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays decreased 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. Robert W. Baird upgraded Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 target price for the company in a research report on Thursday, October 15th. Truist Financial dropped their target price on Bank of America from $62.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, October 15th. Argus set a $70.00 price target on Bank of America in a research note on Wednesday, July 15th. Finally, Citigroup decreased their price target on Bank of America from $66.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Bank of America has an average rating of "Moderate Buy" and an average target price of $62.48.

Bank of America Trading Up 2.3%

Shares of NYSE BAC opened at $50.57 on Tuesday. The company's 50 day simple moving average is $55.01 and its 200 day simple moving average is $54.88. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The firm has a market capitalization of $348.95 billion, a P/E ratio of 12.01, a P/E/G ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data 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 business 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%. Bank of America's revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. On average, analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

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

Bank of America Company Profile

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.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.

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