Longfellow Investment Management Co. LLC Sells 10,240 Shares of Bank of America Corporation $BAC

Key Points

• Longfellow Investment Management cut its stake in Bank of America by 26.8%, selling 10,240 shares in Q3 and leaving it with 28,002 shares valued at about $1.45 million.
• Institutional investors own roughly 70.7% of BAC, and several smaller funds added modest new positions during the quarter, showing continued institutional interest.
• Bank of America reported $0.98 EPS for the quarter (beating estimates), announced a quarterly dividend of $0.28 (2.2% yield), and carries a consensus analyst rating of “Moderate Buy” with an average price target of $60.30.

Longfellow Investment Management Co. LLC decreased its holdings in Bank of America Corporation (NYSE:BAC) by 26.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,002 shares of the financial services provider's stock after selling 10,240 shares during the period. Longfellow Investment Management Co. LLC's holdings in Bank of America were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Steph & Co. lifted its stake in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider's stock worth $28,000 after purchasing an additional 379 shares during the last quarter. Marquette Asset Management LLC bought a new position in Bank of America in the third quarter worth about $30,000. Collier Financial purchased a new stake in shares of Bank of America during the third quarter valued at about $30,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bank of America during the third quarter valued at about $31,000. Finally, Wealth Preservation Advisors LLC boosted its holdings in shares of Bank of America by 48.7% in the 2nd quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider's stock valued at $32,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

More Bank of America News

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

• Positive Sentiment: Bank of America Private Bank launched an Art Consulting service to help wealth clients treat art as an investable asset, which can deepen client relationships and boost advisory/relationship fee income. Read More.
• Positive Sentiment: BofA Securities acted as lead underwriter/advisor on SM Energy’s $1B senior notes offering, highlighting ongoing investment-banking deal flow that supports non‑interest fee revenue. Read More.
• Neutral Sentiment: Bank of America disclosed a stake crossing in Galapagos under transparency rules; this is a regulatory filing about holdings rather than a business development for BAC itself. Read More.
• Neutral Sentiment: VantageScore’s CEO will appear at BofA’s upcoming Information & Business Services conference — evidence BofA continues to host investor events that support its securities business but with limited direct impact on the bank’s fundamentals. Read More.
• Neutral Sentiment: Coverage and analyst activity mentioning BAC (Zacks trending piece) indicate retail/investor interest in the stock; attention can drive volume but is not a clear directional catalyst. Read More.
• Negative Sentiment: Analysis flagging that BAC’s recent share momentum is cooling raises near-term valuation pressure and may be a direct reason shares are trading lower today. Read More.
• Negative Sentiment: Bank of America warns broader market risk from the U.S.-Iran war (e.g., collapsed Strait of Hormuz volumes) could spark volatility and downside for banks via economic and oil‑price shocks. That macro risk is a headwind for financial stocks including BAC. Read More.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Bank of America from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, January 15th. Wolfe Research lowered shares of Bank of America from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 7th. Barclays increased their price objective on Bank of America from $59.00 to $71.00 and gave the company an "overweight" rating in a report on Monday, January 5th. TD Cowen dropped their target price on Bank of America from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, January 15th. Finally, CICC Research assumed coverage on Bank of America in a research report on Wednesday, January 14th. They set an "outperform" rating and a $62.00 target price on the stock. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.30.

Bank of America Price Performance

Shares of BAC opened at $49.81 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The company's fifty day moving average price is $53.42 and its 200-day moving average price is $52.48. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The firm has a market capitalization of $357.47 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm's revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities research analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. Bank of America's dividend payout ratio is currently 29.24%.

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.

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