Bank of America Corporation $BAC Stock Sold by Paradigm Asset Management Co. LLC

Key Points

• Paradigm Asset Management cut its Bank of America stake by 15.8% in the third quarter, selling 13,100 shares and retaining 69,550 shares valued at about $3.8 million.
• Analysts’ average rating is “Moderate Buy,” with an average price target of $62.48; several firms recently lowered their targets, though most still rate the stock Buy.
• Bank of America narrowly missed quarterly earnings and revenue estimates, despite year-over-year revenue growth of 3.2%. It also declared a quarterly dividend of $0.32 per share.

Paradigm Asset Management Co. LLC cut its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 15.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,550 shares of the financial services provider's stock after selling 13,100 shares during the quarter. Bank of America accounts for approximately 0.9% of Paradigm Asset Management Co. LLC's holdings, making the stock its 23rd largest position. Paradigm Asset Management Co. LLC's holdings in Bank of America were worth $3,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new stake in Bank of America in the 2nd quarter worth about $25,000. Cherry Tree Wealth Management LLC raised its position in Bank of America by 167.6% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider's stock worth $27,000 after buying an additional 300 shares during the last quarter. Principia Wealth Advisory LLC raised its position in Bank of America by 69.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider's stock worth $30,000 after buying an additional 218 shares during the last quarter. Balance Wealth Partners LLC bought a new position in Bank of America during the 3rd quarter valued at about $33,000. Finally, Frazier Financial Advisors LLC bought a new position in Bank of America during the 2nd quarter valued at about $34,000. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. TD Cowen reduced their price target on shares of Bank of America from $60.00 to $56.00 and set a "hold" rating for the company in a research note on Thursday, October 15th. Evercore set a $62.00 price objective on shares of Bank of America in a report on Thursday, October 1st. Truist Financial lowered their price objective on shares of Bank of America from $62.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, October 15th. Jefferies Financial Group dropped their target price on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Finally, Morgan Stanley cut their target price on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.48.

Bank of America Stock Performance

BAC opened at $50.67 on Thursday. The company's 50 day moving average is $54.56 and its 200 day moving average is $54.87. 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 company has a market cap of $349.61 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.89 and a beta of 1.19. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released 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). 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 return on equity of 12.15% and a net margin of 16.80%. The firm's revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities research analysts predict that Bank of America Corporation will post 4.51 EPS 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. Stockholders of record on Friday, December 4th will be paid 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 is 30.40%.

Recent Bank of America Headlines

These are some of the BAC headlines that stood out recently:

• Positive Sentiment: A comparison with Wells Fargo says Bank of America has an edge on earnings growth and valuation, though Wells Fargo has stronger recent share performance and return on equity. Read article
• Neutral Sentiment: Bank of America’s market outlook includes caution about crowded trades, while its view that inflation could prompt a larger Federal Reserve rate hike points to potential rate volatility. These are broader market calls, not new BAC-specific financial forecasts. Read article Read article
• Negative Sentiment: Several law firms are publicizing the same securities class action against Bank of America, concerning investors who bought shares from August 1, 2025, through October 13, 2026. The lead-plaintiff deadline is December 15, 2026. The repeated alerts are not evidence of a new ruling, but the allegations and potential legal costs may weigh on sentiment. Read article Read article

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.

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