Bank of America Corporation $BAC Stock Sold by Courier Capital LLC

Courier Capital LLC reduced its stake in Bank of America Corporation (NYSE:BAC) by 53.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,244 shares of the financial services provider’s stock after selling 102,148 shares during the quarter. Courier Capital LLC’s holdings in Bank of America were worth $4,803,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America in the second quarter valued at approximately $25,000. Abound Financial LLC bought a new position in shares of Bank of America during the fourth quarter worth approximately $26,000. Cherry Tree Wealth Management LLC lifted its holdings in Bank of America by 167.6% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Principia Wealth Advisory LLC lifted its holdings in Bank of America by 69.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in Bank of America in the 2nd quarter valued at $34,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research reports. Robert W. Baird upped their price objective on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. dropped their target price on Bank of America from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Wells Fargo & Company lifted their target price on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Evercore set a $62.00 target price on shares of Bank of America in a research report on Thursday, October 1st. Finally, HSBC began coverage on shares of Bank of America in a research note on Monday, September 28th. They issued a “buy” rating and a $65.00 price target on the stock. Nineteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $64.22.

Bank of America Price Performance

Shares of BAC stock traded down $0.53 during trading on Tuesday, hitting $54.05. The company had a trading volume of 44,924,449 shares, compared to its average volume of 37,191,953. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $377.93 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The stock’s 50-day moving average price is $59.93 and its 200 day moving average price is $56.63. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The business had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities analysts expect that Bank of America Corporation will post 4.61 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.28 annualized dividend and a yield of 2.4%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 29.36%.

Bank of America News Summary

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

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.