Cumberland Partners Ltd Sells 28,700 Shares of Bank of America Corporation $BAC

Cumberland Partners Ltd trimmed its stake in shares of Bank of America Corporation (NYSE:BAC) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,735 shares of the financial services provider’s stock after selling 28,700 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank of America were worth $2,875,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BAC. Norges Bank bought a new position in shares of Bank of America in the second quarter worth $5,091,641,000. Arrowstreet Capital Limited Partnership boosted its stake in Bank of America by 124.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after buying an additional 9,782,208 shares during the period. ABN AMRO Bank N.V. purchased a new position in Bank of America during the second quarter worth about $202,439,000. OMERS ADMINISTRATION Corp increased its stake in Bank of America by 881.5% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock worth $199,236,000 after acquiring an additional 3,781,417 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of Bank of America by 96.5% in the 2nd quarter. LSV Asset Management now owns 6,882,719 shares of the financial services provider’s stock valued at $325,690,000 after acquiring an additional 3,379,335 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 1.2%

Shares of NYSE:BAC opened at $53.39 on Thursday. The stock’s 50-day moving average is $54.37 and its 200 day moving average is $52.17. The company has a market cap of $389.84 billion, a PE ratio of 13.94, a P/E/G ratio of 1.29 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America’s dividend payout ratio is 29.24%.

Bank of America News Summary

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

• Positive Sentiment: BofA announced a new, no‑fee BofA Rewards program that expands eligibility to more than 30 million clients and launches May 27 — a move that can boost card spend, deposits and cross‑sell opportunities across consumer and Merrill relationships. New BofA Rewards Program to Reach Millions More Clients with Expanded Benefits
• Positive Sentiment: Bank of America Private Bank launched an art consulting service for wealthy clients — a niche, fee‑based offering that can deepen relationships, support higher‑margin lending (art as collateral) and grow AUM in the private bank/Merrill channels. Bank of America Launches Art Consulting Service
• Positive Sentiment: Analyst and retail coverage notes BofA’s dividend profile and valuation (coverage such as Zacks) — supporting the narrative that BAC is an income/value play for investors focused on yield and steady earnings. Bank of America (BAC) Could Be a Great Choice
• Neutral Sentiment: BofA research has been prominent in industry commentary on AI — its surveys say fund managers see an AI spending “bubble” and that AI will separate winners and losers among banks; this flags both upside from successful AI deployment and execution risk if BofA or peers misstep. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Neutral Sentiment: Options/quant pieces are highlighting mean‑reversion trades on BAC — these note the stock’s technical setup more than fundamentals, which can amplify intraday moves but don’t change the long‑term thesis. Bank of America Stock (BAC) Offers Mean-Reversion Options Trade
• Neutral Sentiment: Reports on executive pay rising after earnings growth (CEO compensation coverage) are drawing governance attention but are unlikely to materially change earnings outlook. Bank of America CEO Brian Moynihan sees compensation rise following earnings growth
• Negative Sentiment: Berkshire Hathaway (Warren Buffett) trimmed its Bank of America stake, and coverage reported a sizable reduction of BofA holdings — big shareholder selling can weigh on sentiment and add supply pressure to the stock. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position Warren Buffett Sold 29% of Bank of America and Bought This Consumer Stock for 4 Consecutive Quarters
• Negative Sentiment: Coverage that BofA dramatically increased a stake in a struggling crypto company (reported as a 1,668% increase) raises questions about risk exposure and could spook some investors focused on conservative capital deployment. Bank of America hikes stake in sinking crypto stock by 1,668%

Analysts Set New Price Targets

Several brokerages have issued reports on BAC. Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. CICC Research started coverage on shares of Bank of America in a report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price objective for the company. Wolfe Research cut Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Argus raised their price target on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Oppenheimer upped their price objective on Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

About Bank of America

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.