Bank of America Corporation $BAC Shares Acquired by GFG Capital LLC

GFG Capital LLC increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 72.7% during the third quarter, Holdings Channel.com reports. The fund owned 36,113 shares of the financial services provider’s stock after buying an additional 15,204 shares during the period. GFG Capital LLC’s holdings in Bank of America were worth $1,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BAC. Legal & General Group Plc acquired a new stake in shares of Bank of America in the second quarter valued at about $2,571,060,000. Deutsche Bank AG purchased a new stake in shares of Bank of America during the second quarter worth about $2,359,172,000. Bank of New York Mellon Corp acquired a new position in shares of Bank of America during the 2nd quarter worth about $2,313,953,000. Amundi raised its position in shares of Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock worth $2,066,274,000 after purchasing an additional 4,721,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday. Argus set a $70.00 target price on Bank of America in a report on Wednesday, July 15th. Morgan Stanley reduced their target price on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 target price on the stock in a research report on Thursday. Finally, Royal Bank Of Canada lowered their price target on Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday. Twenty investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.52.

Bank of America Stock Performance

NYSE:BAC opened at $51.28 on Friday. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a fifty day simple moving average of $59.05 and a two-hundred day simple moving average of $56.69. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The company has a market cap of $358.59 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Bank of America Corporation will post 4.57 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a $0.32 dividend. The ex-dividend date was Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. Bank of America’s payout ratio is 29.36%.

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.