Bank of America Corporation $BAC Stock Purchased by Summit Global Investments

Summit Global Investments raised its stake in Bank of America Corporation (NYSE:BAC) by 30.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 88,286 shares of the financial services provider’s stock after buying an additional 20,831 shares during the quarter. Summit Global Investments’ holdings in Bank of America were worth $4,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. bought a new stake in Bank of America during the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC grew its stake in shares of Bank of America by 167.6% in the second 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 in the last quarter. Principia Wealth Advisory LLC grew its stake in shares of Bank of America by 69.9% in the second 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 in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Bank of America in the second quarter worth $34,000. Finally, Balance Wealth Partners LLC acquired a new position in shares of Bank of America during the third quarter valued at $33,000. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Down 2.2%

NYSE:BAC opened at $50.03 on Friday. The firm has a market capitalization of $349.85 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.87 and a beta of 1.21. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The business’s fifty day moving average price is $56.44 and its 200 day moving average price is $54.96.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (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 during the quarter, compared to analysts’ expectations of $30.58 billion. During the same period last year, the company earned $1.06 earnings per share. Bank of America’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, December 4th. Bank of America’s payout ratio is currently 30.40%.

Trending Headlines about Bank of America

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

Analyst Ratings Changes

A number of brokerages recently weighed in on BAC. Keefe, Bruyette & Woods cut their price objective on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. HSBC initiated coverage on shares of Bank of America in a report on Monday, September 28th. They issued a “buy” rating and a $65.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a research report on Tuesday, October 6th. Finally, Evercore set a $62.00 price objective on shares of Bank of America in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.70.

Bank of America Company Profile

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.