World Equity Group Inc. Raises Holdings in Bank of America Corporation $BAC

World Equity Group Inc. grew its holdings in Bank of America Corporation (NYSE:BAC) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,188 shares of the financial services provider’s stock after purchasing an additional 13,119 shares during the period. Bank of America makes up 0.9% of World Equity Group Inc.’s investment portfolio, making the stock its 22nd largest position. World Equity Group Inc.’s holdings in Bank of America were worth $3,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Permanent Capital Management LP purchased a new position in shares of Bank of America during the 3rd quarter worth about $649,000. Boston Common Asset Management LLC increased its position in Bank of America by 10.5% during the second quarter. Boston Common Asset Management LLC now owns 259,680 shares of the financial services provider’s stock worth $12,288,000 after purchasing an additional 24,740 shares during the last quarter. Disciplined Investments LLC purchased a new position in Bank of America during the second quarter worth approximately $217,000. Sunbeam Capital Management LLC raised its stake in Bank of America by 7.3% during the second quarter. Sunbeam Capital Management LLC now owns 6,476 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 439 shares during the period. Finally, CCG Wealth Management LLC acquired a new position in shares of Bank of America in the 2nd quarter valued at $287,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 0.7%

Shares of BAC opened at $55.81 on Friday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The stock’s 50-day moving average is $54.14 and its two-hundred day moving average is $50.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $407.52 billion, a PE ratio of 15.21 and a beta of 1.29.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.93 by $0.13. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Equities analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, December 5th. Bank of America’s payout ratio is presently 30.52%.

Analyst Ratings Changes

A number of research firms have recently commented on BAC. Barclays upped their price objective on Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Thursday, October 30th. Wolfe Research downgraded Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Piper Sandler boosted their target price on Bank of America from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $59.82.

Key Bank of America News

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong?Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax?equity investments and is pushing into fixed?income & digital?asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near?term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

Bank of America Profile

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.