Bank of America Corporation $BAC Stock: Lineweaver Wealth Advisors LLC Boosts Holdings

Lineweaver Wealth Advisors LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,020 shares of the financial services provider’s stock after acquiring an additional 10,777 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Bank of America were worth $3,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America in the second quarter valued at approximately $25,000. Abound Financial LLC bought a new stake in Bank of America in the 4th quarter valued at about $26,000. Cherry Tree Wealth Management LLC increased its stake in Bank of America by 167.6% during the 2nd 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 raised its stake in 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 valued at $30,000 after purchasing an additional 218 shares in the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Bank of America during the 2nd quarter worth approximately $34,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research analyst reports. Rothschild & Co Redburn set a $72.00 price target on shares of Bank of America in a research note on Tuesday, October 6th. Wells Fargo & Company boosted their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods raised their target price on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of Bank of America from $68.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Finally, Citigroup lifted their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

More Bank of America News

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

Bank of America Price Performance

BAC traded down $0.53 during trading on Tuesday, reaching $54.05. 44,924,449 shares of the company were exchanged, compared to its average volume of 37,191,953. The company’s 50-day moving average is $59.75 and its two-hundred day moving average is $56.67. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a market cap of $377.93 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.87 and a beta of 1.21.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The firm had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts forecast that Bank of America Corporation will post 4.61 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a $0.32 dividend. The ex-dividend date was Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.4%. Bank of America’s dividend payout ratio is presently 29.36%.

Bank of America Company Profile

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.