RDA Financial Network Buys 23,769 Shares of Bank of America Corporation $BAC

Key Points

• RDA Financial Network increased its Bank of America stake by 150.9% in the third quarter, purchasing 23,769 additional shares and bringing its holdings to 39,523 shares valued at approximately $2.15 million.
• Bank of America reported quarterly earnings of $1.08 per share and revenue of $29.96 billion, both slightly below analyst expectations, despite revenue increasing 3.2% year over year.
• The bank raised its quarterly dividend to $0.32 per share, equivalent to an annualized $1.28 payout and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $62.52.

RDA Financial Network increased its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 150.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,523 shares of the financial services provider's stock after purchasing an additional 23,769 shares during the period. RDA Financial Network's holdings in Bank of America were worth $2,151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America during the 2nd quarter worth about $25,000. Cherry Tree Wealth Management LLC increased its stake in shares of 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 valued at $27,000 after acquiring an additional 300 shares during the last quarter. Principia Wealth Advisory LLC increased its stake in shares of 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 valued at $30,000 after acquiring an additional 218 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Bank of America in the 2nd quarter valued at approximately $34,000. Finally, Vermillion Wealth Management Inc. raised its position in shares of Bank of America by 199.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 438 shares during the period. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 0.5%

Shares of Bank of America stock opened at $51.65 on Friday. The company has a market capitalization of $361.15 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $59.29 and a two-hundred day moving average of $56.72. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data 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). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. During the same quarter last year, the firm earned $1.06 EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Bank of America Corporation will post 4.60 EPS for the current year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio (DPR) is currently 29.36%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Net interest income increased 8% year over year to approximately $16.4 billion, while average loans rose 6% and deposits grew 2%. Management also targeted at least 8% net-interest-income growth in 2027, supported by loan and deposit expansion. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management remained areas of strength, with Merrill’s fee-based advisory assets reaching a record $1.9 trillion. Bank of America also returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
• Positive Sentiment: Despite lower targets, several analysts retained favorable views. Baird upgraded BAC to “outperform,” while Citigroup, Truist and Keefe, Bruyette & Woods maintained buy or outperform ratings. The revised targets remain above the current share price.
• Neutral Sentiment: Bank of America said it has added roughly 1,000 contractors alongside 3,000 employees to address software vulnerabilities identified by advanced AI tools. The spending pressures near-term expenses but could reduce technology and operational risk over time. Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos
• Negative Sentiment: Regulators imposed more than $1.2 billion in penalties for failures involving anti-money-laundering, Bank Secrecy Act and sanctions compliance, including the failure to report more than $5 billion in suspicious transactions. The charge reduced reported third-quarter EPS and raised concerns about management’s controls and potential remediation costs. Bank of America profit hurt by $1.2 billion fine over anti-money laundering shortcomings
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Fixed-income trading revenue fell 17%, investment-banking activity weakened, expenses grew faster than revenue, and credit-loss provisions reached approximately $1.3 billion. Analysts subsequently lowered price targets, including Morgan Stanley, TD Cowen, Piper Sandler and Citigroup.
• Negative Sentiment: Multiple law firms announced investigations into potential securities-law violations or breaches of fiduciary duty following the penalty and earnings miss. These notices do not establish liability but add reputational and potential litigation risk for BAC investors.

Analysts Set New Price Targets

BAC has been the topic of several recent analyst reports. Truist Financial reduced 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 note on Thursday. Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and set a $62.00 target price for the company in a research note on Thursday. UBS Group lowered their target price on shares of Bank of America from $70.00 to $67.00 and set a "buy" rating for the company in a research note on Monday, October 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Finally, Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Twenty investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average price target of $62.52.

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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