Bank of America Corporation $BAC Shares Acquired by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC raised its holdings in shares of Bank of America Corporation (NYSE:BAC) by 31.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,344 shares of the financial services provider’s stock after purchasing an additional 10,181 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Bank of America were worth $2,305,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Bank of America in the second quarter valued at $2,571,060,000. Amundi boosted its stake 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 acquiring an additional 4,721,969 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Bank of America during the 2nd quarter worth $2,359,172,000. Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the 2nd quarter worth $2,313,953,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bank of America by 1.8% in 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 acquiring an additional 561,413 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAC. Truist Financial cut their target price on Bank of America from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, October 15th. JPMorgan Chase & Co. decreased their price target on Bank of America from $62.00 to $59.50 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Thursday, October 15th. Citigroup dropped their price target on Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, Jefferies Financial Group cut their price objective on Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.70.

Bank of America Trading Down 2.2%

Bank of America stock opened at $50.03 on Friday. The company has a 50 day moving average price of $56.44 and a 200 day moving average price of $54.96. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $349.85 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.89 and a beta of 1.21.

Bank of America (NYSE:BAC) last posted 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 return on equity of 12.15% and a net margin of 16.80%. The firm had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts forecast that Bank of America Corporation will post 4.52 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 4th. Bank of America’s dividend payout ratio (DPR) is 30.40%.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.