Bank of America Corporation $BAC Stock Position Increased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in Bank of America Corporation (NYSE:BAC) by 2.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 60,605,657 shares of the financial services provider’s stock after purchasing an additional 1,390,289 shares during the period. Fisher Asset Management LLC’s holdings in Bank of America were worth $3,298,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BAC. 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 boosted its holdings 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 acquiring an additional 300 shares during the period. Principia Wealth Advisory LLC boosted its holdings 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 acquiring an additional 218 shares during the period. Balance Wealth Partners LLC purchased a new position in shares of Bank of America in the third quarter valued at $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Bank of America in the second quarter valued at $34,000. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on BAC shares. JPMorgan Chase & Co. decreased their price objective on Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Royal Bank Of Canada reduced their target price on Bank of America from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Barclays decreased their price target on Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Jefferies Financial Group lowered their price target on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Finally, Evercore set a $62.00 price objective on shares of Bank of America in a research report on Thursday, October 1st. One equities 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. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $62.48.

Top Bank of America Stories

Investors following BAC have been watching these stories:

• Positive Sentiment: Bank of America reaffirmed its 16%–18% return-on-tangible-common-equity target for 2028–2030. The outlook is supported by expected net interest income growth, loan growth, and expense discipline, signaling confidence in longer-term profitability. BAC Reaffirms 16-18% ROTCE Target
• Neutral Sentiment: Bank of America and Allegiant extended their co-branded credit-card partnership into the next decade. The renewal supports continuity in the bank’s card business, but the announcement provided no financial terms. Allegiant and Bank of America Extend Co-Branded Credit Card Partnership
• 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

Bank of America Trading Down 0.2%

Shares of BAC opened at $50.56 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The firm has a 50 day moving average price of $54.31 and a 200-day moving average price of $54.86. The firm has a market cap of $348.87 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.89 and a beta of 1.19.

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 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 during the quarter, compared to the consensus estimate of $30.58 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Announces Dividend

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

Bank of America 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.