North Point Portfolio Managers Corp OH Makes New Investment in Bank of America Corporation $BAC

Key Points

• North Point Portfolio Managers acquired 68,649 Bank of America shares in the third quarter, valued at approximately $3.74 million. Other institutional investors also increased their positions, with institutions collectively owning 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding the $1.13 analyst consensus, while revenue rose 19.6% year over year to $31.56 billion.
• The bank raised its quarterly dividend to $0.32 per share, equivalent to a 2.4% annualized yield. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $64.39 target price.

North Point Portfolio Managers Corp OH acquired a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 68,649 shares of the financial services provider's stock, valued at approximately $3,737,000.

Other hedge funds also recently made changes to their positions in the company. PFW Advisors LLC boosted its holdings in shares of Bank of America by 45.7% in the 3rd quarter. PFW Advisors LLC now owns 27,024 shares of the financial services provider's stock valued at $1,471,000 after buying an additional 8,472 shares during the period. Matrix Trust Co raised its stake in Bank of America by 745.0% during the 3rd quarter. Matrix Trust Co now owns 2,721 shares of the financial services provider's stock valued at $148,000 after acquiring an additional 2,399 shares in the last quarter. Crumly & Associates Inc. lifted its holdings in Bank of America by 57.0% in the third quarter. Crumly & Associates Inc. now owns 13,821 shares of the financial services provider's stock worth $752,000 after purchasing an additional 5,020 shares during the period. First Community Trust NA grew its position in Bank of America by 103.1% in the 3rd quarter. First Community Trust NA now owns 2,031 shares of the financial services provider's stock valued at $111,000 after buying an additional 1,031 shares in the last quarter. Finally, Weaver Consulting Group lifted its stake in shares of Bank of America by 5.3% in the 3rd quarter. Weaver Consulting Group now owns 8,901 shares of the financial services provider's stock worth $484,000 after acquiring an additional 449 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE:BAC traded down $0.47 during midday trading on Wednesday, reaching $53.62. The stock had a trading volume of 14,951,207 shares, compared to its average volume of 37,059,762. The stock has a market capitalization of $374.99 billion, a P/E ratio of 12.31, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The firm's fifty day simple moving average is $60.56 and its 200-day simple moving average is $56.45.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.62 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.4%. 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 is presently 29.36%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Analyst support remains favorable. UBS maintained its Buy rating, while JPMorgan reiterated an Overweight rating on BAC. These endorsements suggest analysts continue to see value in the stock despite recent weakness. UBS Keeps Their Buy Rating on Bank of America JPMorgan Reiterates Overweight Rating on Bank of America
• Positive Sentiment: Fraud-prevention initiative may strengthen customer relationships. Bank of America launched new fraud-education tools, checklists and webinars for small businesses amid rising cybercrime losses. The program is unlikely to materially affect near-term earnings but could support the bank’s brand and commercial-banking relationships. Bank of America Expands Fraud Education for Small Business Owners
• Neutral Sentiment: Earnings are the next major catalyst. Bank of America is expected to report quarterly results on Wednesday. Investors will focus on net interest income, loan growth, credit quality and management’s outlook, particularly after the company’s prior quarter exceeded revenue and EPS expectations. Bank of America Expected to Announce Earnings
• Neutral Sentiment: Market strategy commentary highlights a possible rotation toward consumer spending. BofA strategists said investors may be overemphasizing artificial-intelligence spending and underestimating consumers, while also warning that technology valuations could be vulnerable. This may influence broader market positioning but has limited direct impact on BAC’s fundamentals. Bank of America Says Investors Are Overplaying AI and Underestimating Consumers
• Negative Sentiment: Pre-earnings caution and bond-market volatility are weighing on sentiment. Commentary on evolving risks ahead of third-quarter results, together with a bond selloff driven by changing expectations for U.S. rate hikes, may be encouraging investors to reduce exposure to financial stocks until the earnings outlook becomes clearer. Bank of America As Q3 Earnings Near

Wall Street Analyst Weigh In

BAC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. 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 report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Morgan Stanley reissued an "overweight" rating on shares of Bank of America in a research report on Tuesday, September 15th. Finally, Jefferies Financial Group cut their target price on shares of Bank of America from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, September 24th. Twenty research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.39.

About Bank of America

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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