Bank of America Corporation $BAC Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in Bank of America Corporation (NYSE:BAC) by 3.8% in the 3rd quarter, Holdings Channel reports. The fund owned 6,863,861 shares of the financial services provider’s stock after selling 267,985 shares during the period. Bank of America makes up about 1.5% of King Luther Capital Management Corp’s portfolio, making the stock its 10th biggest position. King Luther Capital Management Corp’s holdings in Bank of America were worth $373,600,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Spectrum Planning & Advisory Services Inc. grew its position in Bank of America by 32.4% during the third quarter. Spectrum Planning & Advisory Services Inc. now owns 4,964 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,215 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Bank of America by 11.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 396,626 shares of the financial services provider’s stock valued at $21,588,000 after buying an additional 40,271 shares during the period. Ritholtz Wealth Management lifted its position in Bank of America by 4.7% in the 3rd quarter. Ritholtz Wealth Management now owns 281,594 shares of the financial services provider’s stock worth $15,327,000 after buying an additional 12,645 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in Bank of America by 2.9% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 68,239 shares of the financial services provider’s stock worth $3,714,000 after buying an additional 1,926 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in Bank of America by 7.0% in the 3rd quarter. Jacobi Capital Management LLC now owns 185,185 shares of the financial services provider’s stock worth $10,080,000 after buying an additional 12,096 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.0%

BAC stock opened at $50.67 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The company has a fifty day simple moving average of $54.56 and a 200 day simple moving average of $54.87. The firm has a market cap of $349.61 billion, a PE ratio of 12.03, a PEG ratio of 0.89 and a beta of 1.19.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The business had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. Sell-side analysts anticipate that Bank of America Corporation will post 4.51 EPS 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. Shareholders of record on Friday, December 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America’s payout ratio is currently 30.40%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BAC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Monday, October 19th. Citigroup dropped their price target on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Phillip Securities upgraded Bank of America to a “strong-buy” rating in a report on Friday, October 16th. Truist Financial reduced their price objective on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. Finally, Morgan Stanley reduced their price objective on Bank of America from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.48.

Bank of America News Roundup

Here’s some of the latest news about BAC:

• Positive Sentiment: A comparison with Wells Fargo says Bank of America has an edge on earnings growth and valuation, though Wells Fargo has stronger recent share performance and return on equity. Read article
• Neutral Sentiment: Bank of America’s market outlook includes caution about crowded trades, while its view that inflation could prompt a larger Federal Reserve rate hike points to potential rate volatility. These are broader market calls, not new BAC-specific financial forecasts. Read article Read article
• Negative Sentiment: Several law firms are publicizing the same securities class action against Bank of America, concerning investors who bought shares from August 1, 2025, through October 13, 2026. The lead-plaintiff deadline is December 15, 2026. The repeated alerts are not evidence of a new ruling, but the allegations and potential legal costs may weigh on sentiment. Read article Read article

About Bank of America

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services. The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.