Birch Hill Investment Advisors LLC Buys 17,823 Shares of Bank of America Corporation $BAC

Key Points

• Birch Hill Investment Advisors increased its Bank of America position by 10% in the third quarter, adding 17,823 shares to own 196,248 shares valued at approximately $10.7 million.
• Institutional investors and hedge funds own 70.71% of BAC, while several firms—including Bamco, Aspiriant, and Legacy Private Trust—also raised their stakes.
• Despite recent analyst price-target cuts and a quarterly earnings miss, Bank of America retains a “Moderate Buy” consensus rating from analysts, with an average target of $62.52 versus a recent share price of $51.28.

Birch Hill Investment Advisors LLC increased its position in Bank of America Corporation (NYSE:BAC) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,248 shares of the financial services provider's stock after acquiring an additional 17,823 shares during the quarter. Birch Hill Investment Advisors LLC's holdings in Bank of America were worth $10,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Bamco Inc. NY increased its stake in Bank of America by 45.4% during the second quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock valued at $2,336,000 after acquiring an additional 12,794 shares during the period. E Fund Management Co. Ltd. acquired a new position in Bank of America in the second quarter worth about $4,089,000. Bernicke Wealth Management Ltd. acquired a new stake in Bank of America in the 2nd quarter valued at $2,132,000. Aspiriant LLC boosted its stake in Bank of America by 34.3% in the 3rd quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider's stock valued at $2,660,000 after buying an additional 12,479 shares in the last quarter. Finally, Legacy Private Trust Co. boosted its stake in shares of Bank of America by 11.7% in the 3rd quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider's stock valued at $6,267,000 after purchasing an additional 12,016 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the topic of several research analyst reports. Morgan Stanley decreased their price objective on shares of Bank of America from $67.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday. 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. Barclays reduced their price objective on shares of Bank of America from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Thursday. 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 report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Bank of America from $68.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. Twenty analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.52.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Bank of America Stock Performance

NYSE BAC opened at $51.28 on Friday. The stock has a market cap of $358.59 billion, a PE ratio of 12.18, a P/E/G ratio of 0.83 and a beta of 1.21. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50-day moving average of $59.05 and a 200-day moving average of $56.69. Bank of America Corporation has a 52-week low of $46.12 and a 52-week 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). The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. On average, sell-side analysts anticipate that Bank of America Corporation will post 4.54 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. 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 (DPR) is currently 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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