Sanders Capital LLC Sells 95,320 Shares of Bank of America Corporation $BAC

Key Points

• Sanders Capital reduced its Bank of America stake by 95,320 shares, or 0.2%, leaving it with 46.25 million shares valued at about $2.52 billion.
• Analysts’ average rating is “Moderate Buy”, with a consensus price target of $62.48; several firms recently lowered their targets while maintaining positive ratings.
• Bank of America shares recently traded at $49.54. Quarterly earnings and revenue came in below analyst expectations, while the company declared a $0.32-per-share quarterly dividend.

Sanders Capital LLC lessened its position in Bank of America Corporation (NYSE:BAC - Free Report) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,250,149 shares of the financial services provider's stock after selling 95,320 shares during the quarter. Bank of America accounts for approximately 2.5% of Sanders Capital LLC's portfolio, making the stock its 12th largest holding. Sanders Capital LLC owned about 0.66% of Bank of America worth $2,517,396,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. bought a new stake in Bank of America in the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC boosted its stake in Bank of America by 167.6% in the second 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 in the last quarter. Principia Wealth Advisory LLC boosted its stake in Bank of America by 69.9% in the second 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 in the last quarter. Balance Wealth Partners LLC bought a new position in Bank of America during the third quarter valued at approximately $33,000. Finally, Frazier Financial Advisors LLC bought a new position in Bank of America during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BAC. Wells Fargo & Company decreased their price target on shares of Bank of America from $69.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, October 15th. JPMorgan Chase & Co. cut their price objective on shares of Bank of America from $62.00 to $59.50 and set an "overweight" rating for the company in a research note on Friday, October 30th. HSBC started coverage on shares of Bank of America in a report on Monday, September 28th. They set a "buy" rating and a $65.00 target price on the stock. Citigroup decreased their target price on shares of Bank of America from $66.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, October 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Bank of America from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.48.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America may have room to grow revenue by offering more banking products to Merrill clients, supported by rising wealth balances and lending growth. Read article: BAC Sees Untapped Merrill Banking Potential
• Neutral Sentiment: Consumer banking chief Holly O’Neill expressed optimism about AI’s potential for financial innovation, but the interview did not announce a specific initiative or financial target. Read article: Bank of America’s Holly O’Neill on AI
• Negative Sentiment: A securities class action has been filed on behalf of investors who acquired BAC shares from August 1, 2025, through October 13, 2026. The suit alleges misleading statements; the claims have not been proven. The lead-plaintiff deadline is December 15, adding legal and reputational uncertainty. Read article: Securities class action notice
• Negative Sentiment: Investor-law-firm notices also spotlight Senator Elizabeth Warren’s call for a Justice Department criminal investigation following the bank’s admission that it willfully violated federal anti-money-laundering laws. Further scrutiny could increase legal, compliance, and reputational risks. Read article: BAC investor alert on regulatory scrutiny

Bank of America Trading Down 0.4%

Bank of America stock traded down $0.22 during trading hours on Friday, reaching $49.54. The stock had a trading volume of 36,218,043 shares, compared to its average volume of 41,769,140. The company has a fifty day simple moving average of $55.24 and a 200-day simple moving average of $54.89. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The stock has a market cap of $341.82 billion, a PE ratio of 11.77, a PEG ratio of 0.87 and a beta of 1.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm had revenue of $29.96 billion for the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business's revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. Analysts forecast that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, December 4th. Bank of America's payout ratio is currently 30.40%.

Bank of America 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.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.

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