Spirepoint Private Client LLC Raises Position in Bank of America Corporation $BAC

Spirepoint Private Client LLC increased its stake in Bank of America Corporation (NYSE:BAC) by 51.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,911 shares of the financial services provider’s stock after acquiring an additional 8,806 shares during the period. Spirepoint Private Client LLC’s holdings in Bank of America were worth $1,337,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BAC. Nova Wealth Management Inc. increased its position in shares of Bank of America by 75.2% in the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Quaker Wealth Management LLC increased its holdings in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in Bank of America in the second quarter valued at $28,000. Steph & Co. grew its stake in Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares in the last quarter. Finally, CGC Financial Services LLC grew its position in shares of Bank of America by 585.4% in the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC opened at $56.84 on Tuesday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $53.88 and a 200 day simple moving average of $50.76. The stock has a market cap of $415.04 billion, a P/E ratio of 15.49 and a beta of 1.29.

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

Bank of America Dividend Announcement

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

Analyst Ratings Changes

BAC has been the subject of a number of analyst reports. Seaport Global Securities boosted their price objective on Bank of America from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Truist Financial lifted their price target on Bank of America from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company upped their price target on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.27.

Key Stores Impacting Bank of America

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

• Positive Sentiment: Wells Fargo raised its price target on Bank of America to $65 and kept an “overweight” rating, signaling upside vs. recent levels and giving investors fresh upward guidance. Wells Fargo adjusts price target on Bank of America to $65 from $62; maintains overweight rating
• Positive Sentiment: Bank of America signaled it will allow advisers to recommend Bitcoin ETFs to clients — a product-access change that could expand fee-based sales, client engagement and deposits tied to digital-asset flows. This strategic move is being viewed as revenue-positive and pro-growth by markets. Bank of America Opens the Door for Advisers to Recommend Bitcoin ETFs
• Positive Sentiment: Bank of America’s own strategists publicly recommended a ~4% Bitcoin allocation for investors (coverage in the press), reinforcing the firm’s bullish messaging on crypto and likely supporting investor enthusiasm for BAC’s crypto-facing initiatives. Investors Should Hold 4% Bitcoin in Portfolio, Says Bank of America
• Neutral Sentiment: Coverage notes and analyst blog mentions (Zacks) include Bank of America among broader market calls — informative but not a direct catalyst beyond existing analyst sentiment. The Zacks Analyst Blog: Meta, Bank of America, The Procter & Gamble, Espey and NeurAxis
• Neutral Sentiment: Analyses assessing BAC valuation after the recent share-price run provide context for investors weighing further upside vs. stretched multiples — useful for positioning but not an immediate driver. Assessing Bank of America (BAC) Valuation After Recent Share Price Momentum
• Negative Sentiment: Macro cautionary commentary (Ray Dalio and broader market warnings) and notes on elevated market valuations from a BofA strategist could raise risk-off sentiment if sentiment shifts, which would pressure bank shares given sensitivity to rates and economic cycles. Ray Dalio’s Warning For Fiat Currencies, Potential Impact Of Trump’s Tax Refunds On Markets, And More

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.