TD Asset Management Inc Boosts Stock Holdings in Bank of America Corporation $BAC

TD Asset Management Inc lifted its holdings in Bank of America Corporation (NYSE:BAC) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,855,244 shares of the financial services provider’s stock after purchasing an additional 36,881 shares during the period. TD Asset Management Inc’s holdings in Bank of America were worth $147,302,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quaker Wealth Management LLC increased its holdings in shares of Bank of America by 246.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 880 shares during the period. Steph & Co. boosted its position in Bank of America by 224.3% during the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares in the last quarter. Marquette Asset Management LLC bought a new stake in Bank of America during the third quarter valued at about $30,000. Collier Financial purchased a new position in Bank of America in the third quarter valued at about $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in Bank of America in the third quarter worth about $31,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

NYSE BAC opened at $51.71 on Thursday. The company has a market cap of $377.63 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.23 and a beta of 1.29. 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 stock’s fifty day moving average price is $54.06 and its 200 day moving average price is $52.38. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55.

Bank of America (NYSE:BAC) 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. As a group, equities research analysts forecast that Bank of America Corporation will post 3.7 earnings per share 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%.

Key Bank of America News

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

• Positive Sentiment: Bank of America announced a strategic push into private credit with a $25 billion allocation and new leadership for the effort, plus expanded premium services (BofA Rewards enhancements and art consulting for HNW clients). That shift targets fee income and client stickiness, supporting revenue diversification and higher?margin growth. Bank Of America Expands Private Credit And Premium Services As Valuation Lags
• Positive Sentiment: Recent quarterly results showed BAC beat EPS estimates and delivered revenue growth year?over?year, providing fundamental support for the rally as investors look for earnings resilience. (Company January quarterly release — earnings beat and revenue growth.)
• Neutral Sentiment: Analyst research/forecasts and model reports on BAC remain active; consolidated research pages and price forecasts can influence sentiment but provide mixed signals depending on time horizon. Bank of America Corporation (BAC) Stock Forecasts
• Negative Sentiment: Macro and sector headwinds have pressured BAC recently — private?credit market churn (forced loan sales/redemptions at other firms) and U.S. tariff uncertainty have weighed on financials, prompting short?term selling and volatility in bank shares. Bank Of America Stock Edges Lower As Private Credit Turmoil, Tariff Jitters Weigh On Financials
• Negative Sentiment: Commentary notes BAC has underperformed the S&P 500 over the past year, and recent market commentary flagged economic uncertainty pressuring big banks — factors that can cap multiple expansion even as fundamentals improve. Stock Market Today, Feb. 24: Bank of America Slips as Economic Uncertainty Pressures Big Banks Is Bank of America Stock Underperforming the S&P 500?

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Barclays lifted their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Robert W. Baird increased their price objective on Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Royal Bank Of Canada boosted their target price on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Piper Sandler upped their target price on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. 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 MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

About Bank of America

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.