Bank of America Corporation $BAC Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 955,246 shares of the financial services provider’s stock after selling 12,044 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Bank of America were worth $51,994,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. PBU The Pension Fund of Early Childhood & Youth Educators lifted its stake in Bank of America by 4.3% during the third quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 502,654 shares of the financial services provider’s stock worth $27,359,000 after purchasing an additional 20,852 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its holdings in Bank of America by 4.1% in the third quarter. Werba Rubin Papier Wealth Management now owns 14,282 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 567 shares in the last quarter. Three Bridge Wealth Advisors LLC purchased a new position in Bank of America in the third quarter valued at approximately $109,000. Spectrum Planning & Advisory Services Inc. increased its stake in Bank of America by 32.4% in 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 during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in Bank of America by 11.3% in the third quarter. Maryland State Retirement & Pension System now owns 396,626 shares of the financial services provider’s stock valued at $21,588,000 after purchasing an additional 40,271 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bank of America

These are some of the BAC headlines that stood out recently:

• Neutral Sentiment: The bank was named the official bank of West Palm Beach’s CityPlace under a multiyear partnership involving events, financial-wellness programming, and a planned retail presence. This may support brand visibility, though no financial contribution was disclosed. Related Ross Names Bank of America Official Bank of CityPlace
• Negative Sentiment: Several law firms reiterated that a securities class action has been filed against Bank of America concerning investors who bought shares between August 1, 2025, and October 13, 2026; the lead-plaintiff deadline is December 15, 2026. The notices are not findings of wrongdoing, but the litigation creates uncertainty. Rosen Law Firm Investor Notice
• Negative Sentiment: Bank of America is also reportedly set to settle a lawsuit alleging thousands of unauthorized accounts were opened from 2012 to 2023. The article did not disclose settlement terms, leaving the potential financial and reputational impact unclear. BofA to Settle Fake-Accounts Lawsuit

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Phillip Securities raised shares of Bank of America to a “strong-buy” rating in a report on Friday, October 16th. UBS Group set a $62.00 target price on shares of Bank of America and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Keefe, Bruyette & Woods dropped their target price on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Finally, TD Cowen cut their price target on shares of Bank of America from $60.00 to $56.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.48.

Bank of America Trading Down 0.2%

NYSE BAC opened at $50.56 on Friday. The firm’s fifty day moving average is $54.31 and its two-hundred day moving average is $54.86. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $348.87 billion, a PE ratio of 12.01, a P/E/G ratio of 0.89 and a beta of 1.19.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. During the same quarter last year, the company posted $1.06 EPS. Bank of America’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 4th. Bank of America’s dividend payout ratio (DPR) is 30.40%.

Bank of America Company Profile

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.