Venture Visionary Partners LLC Purchases 110,071 Shares of Bank of America Corporation $BAC

Key Points

• Venture Visionary Partners increased its Bank of America position by 46.6% in the third quarter, adding 110,071 shares for a total of 346,496 shares valued at approximately $18.86 million.
• Institutional investors and hedge funds own approximately 70.71% of BAC, with several other firms also expanding their holdings during the quarter.
• Bank of America raised its quarterly dividend to $0.32 per share, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $64.39.

Venture Visionary Partners LLC grew its position in Bank of America Corporation (NYSE:BAC) by 46.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 346,496 shares of the financial services provider's stock after purchasing an additional 110,071 shares during the quarter. Venture Visionary Partners LLC's holdings in Bank of America were worth $18,860,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BAC. KFA Private Wealth Group LLC lifted its holdings in Bank of America by 25.4% in the third quarter. KFA Private Wealth Group LLC now owns 6,198 shares of the financial services provider's stock valued at $337,000 after buying an additional 1,257 shares during the period. Elevation Wealth Partners LLC grew its holdings in Bank of America by 34.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 5,550 shares of the financial services provider's stock worth $302,000 after acquiring an additional 1,421 shares during the period. Retirement Wealth Solutions LLC raised its position in shares of Bank of America by 20.7% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 1,144 shares of the financial services provider's stock worth $62,000 after acquiring an additional 196 shares in the last quarter. Cooper Financial Group raised its position in shares of Bank of America by 98.3% in the 3rd quarter. Cooper Financial Group now owns 52,212 shares of the financial services provider's stock worth $2,842,000 after acquiring an additional 25,880 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida acquired a new position in shares of Bank of America in the 3rd quarter valued at about $817,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

More Bank of America News

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

• Positive Sentiment: Analyst support remains favorable. UBS maintained its Buy rating on BAC, while JPMorgan reiterated an Overweight rating, signaling continued confidence in the bank’s earnings power and valuation. UBS Keeps Their Buy Rating on Bank of America JPMorgan Reiterates Overweight Rating on Bank of America
• Positive Sentiment: Capital-markets activity could support fee revenue. BofA executive JD Moriarty said public markets can absorb potential mega-IPOs from OpenAI and Anthropic, reflecting strong demand for technology listings. A robust IPO market could benefit BofA’s investment-banking and underwriting businesses. BofA Sees Strong Demand for OpenAI, Anthropic IPOs
• Positive Sentiment: Customer-support and fraud-prevention initiatives enhance the franchise. BofA expanded fraud-education tools and webinars for small businesses, reinforcing its commercial-banking relationships, although the direct financial impact is likely limited. Bank of America Expands Fraud Education
• Neutral Sentiment: Earnings are the next major catalyst. BAC is expected to report results shortly, and investors will be watching net interest income, credit quality, investment-banking revenue and management’s guidance on interest rates. Bank of America Expected to Announce Earnings
• Negative Sentiment: Rate and bond-market concerns are weighing on sentiment. BofA strategist Savita Subramanian said bonds are competing more directly with stocks after a selloff driven by changing expectations for rate hikes to contain inflation. Higher yields can pressure bank bond portfolios and increase uncertainty around loan demand and funding costs. BofA’s Subramanian Says Bonds Compete With Stocks
• Negative Sentiment: Strategists are cautious about market concentration and evolving risks. BofA has warned that investors may be overexposed to AI-related spending and underestimating consumer weakness, while recommending hedges against a potential technology bubble. That defensive positioning can dampen risk appetite for large financial stocks. Bank of America Says Investors Are Overplaying AI BofA Analysts Discuss Tech Bubble Risk

Bank of America Stock Down 1.0%

Bank of America stock traded down $0.53 during midday trading on Wednesday, reaching $53.56. The stock had a trading volume of 30,904,127 shares, compared to its average volume of 37,146,559. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a market capitalization of $374.53 billion, a P/E ratio of 12.28, a PEG ratio of 0.87 and a beta of 1.21. The company has a fifty day moving average price of $60.41 and a two-hundred day moving average price of $56.49. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23.

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

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.32 per share. 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America's payout ratio is currently 29.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Argus set a $70.00 price target on Bank of America in a research note on Wednesday, July 15th. JPMorgan Chase & Co. cut their price target 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. Jefferies Financial Group reduced their price objective 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. Finally, Royal Bank Of Canada lifted their price objective on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Twenty investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.39.

Bank of America Profile

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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