Westpac Banking Corp Buys 21,062 Shares of Bank of America Corporation $BAC

Westpac Banking Corp increased its stake in Bank of America Corporation (NYSE:BAC) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,331 shares of the financial services provider’s stock after purchasing an additional 21,062 shares during the period. Westpac Banking Corp’s holdings in Bank of America were worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BAC. Shepherd Financial Partners LLC raised its position in 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 buying an additional 189 shares during the last quarter. William B. Walkup & Associates Inc. boosted 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 grew its stake in shares of Bank of America by 1.6% during the 3rd quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 205 shares in the last quarter. Motive Wealth Advisors raised its holdings in shares of 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. raised its holdings in shares of 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. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. HSBC increased their target price on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, January 27th. Daiwa Securities Group decreased their price objective on Bank of America from $66.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. TD Cowen lowered their target price on Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Finally, Evercore set a $59.00 price target on Bank of America in a research report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Stock Up 2.6%

Shares of BAC stock opened at $51.71 on Thursday. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55. The stock has a market cap of $377.63 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.23 and a beta of 1.29. The firm’s 50-day moving average is $54.06 and its 200-day moving average is $52.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict 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 will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s payout ratio is 29.24%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Wall Street analysts remain generally constructive on BAC’s longer‑term prospects, which supports upside if sector pressures ease. Read More.
• Neutral Sentiment: Bank of America filed its latest Form 10‑K with the U.K. National Storage Mechanism — a routine disclosure that doesn’t by itself change guidance or earnings expectations. Read More.
• Neutral Sentiment: Coverage notes and analyst activity from BofA Securities across many sectors continue (ratings reiterated on a range of names). These reflect brokerage workflow more than near‑term moves in BAC itself. Read More.
• Negative Sentiment: Private‑credit turmoil—exemplified by large managers selling loans to meet redemptions—has rippled through financials, contributing to a pullback in bank stocks and weighing on BAC. Read More.
• Negative Sentiment: Broader economic and tariff‑related uncertainty has pressured big banks, and BAC’s recent underperformance versus the S&P has amplified selling pressure. Expect volatility until macro signals stabilize. Read More.

Bank of America Company 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.