Waratah Capital Advisors Ltd. Takes $9.89 Million Position in Bank of America Corporation $BAC

Waratah Capital Advisors Ltd. bought a new position in Bank of America Corporation (NYSE:BAC) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 191,681 shares of the financial services provider’s stock, valued at approximately $9,889,000.

Several other hedge funds have also added to or reduced their stakes in the business. Shepherd Financial Partners LLC lifted its stake in shares of Bank of America by 0.3% in the 3rd quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider’s stock valued at $3,110,000 after acquiring an additional 189 shares during the last quarter. William B. Walkup & Associates Inc. grew its position in Bank of America by 1.4% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock worth $723,000 after acquiring an additional 192 shares during the last quarter. Albion Financial Group UT increased its stake in Bank of America by 1.6% in the 3rd quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after purchasing an additional 205 shares during the period. Motive Wealth Advisors lifted its position in Bank of America by 3.6% in the third quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 205 shares during the last quarter. Finally, Howard Financial Services LTD. lifted its position in Bank of America by 2.5% in the third quarter. Howard Financial Services LTD. now owns 8,508 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 205 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Argus lifted their target price on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Royal Bank Of Canada upped their price objective on shares of Bank of America from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Piper Sandler increased their target price on shares of Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, January 15th. Morgan Stanley reduced their price target on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Finally, Oppenheimer upped their price target on Bank of America from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America Stock Performance

Bank of America stock opened at $50.43 on Wednesday. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $57.55. The stock’s 50 day simple moving average is $54.12 and its two-hundred day simple moving average is $52.39. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $368.29 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.25 and a beta of 1.29.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is currently 29.24%.

More Bank of America News

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

• Positive Sentiment: Bank of America is committing $25 billion to expand its private?credit platform and has new leadership for the effort — a move that can boost fee income, diversify loan-related revenue, and support returns as the bank leverages its balance sheet to capture private markets. Bank Of America Expands Private Credit And Premium Services As Valuation Lags
• Positive Sentiment: Merrill is launching a special trading desk for ultra?wealthy clients (Direct Markets Group) to deepen high?net?worth relationships — a strategic wealth offering that can increase client retention, trading revenue and assets under management. Merrill Launches Special Trading Desk for Wealthiest Clients
• Neutral Sentiment: Analysts and market writeups note BAC has underperformed the S&P 500 over the past year, prompting continued debate about valuation versus growth prospects — useful context but not an immediate catalyst. Is Bank of America Stock Underperforming the S&P 500?
• Negative Sentiment: Sector pressure from private?credit market disruptions (forced loan sales/redemptions) and renewed tariff policy jitters has pushed financials lower; investors are marking down bank multiples and sentiment has driven BAC shares down in recent trading. Bank Of America Stock Edges Lower As Private Credit Turmoil, Tariff Jitters Weigh On Financials
• Negative Sentiment: Daily market wrap highlights macro/economic uncertainty is pressuring big banks, contributing to near?term share weakness despite BAC’s strategic moves. Stock Market Today, Feb. 24: Bank of America Slips as Economic Uncertainty Pressures Big Banks

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.