Bank of America Corporation $BAC Stock Position Lowered by Red Door Wealth Management LLC

Red Door Wealth Management LLC trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 93.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,905 shares of the financial services provider’s stock after selling 175,401 shares during the quarter. Red Door Wealth Management LLC’s holdings in Bank of America were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BAC. Nova Wealth Management Inc. grew its holdings in shares of Bank of America by 75.2% during the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock valued at $25,000 after buying an additional 227 shares in the last quarter. Quaker Wealth Management LLC boosted its position in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 880 shares during the period. RMG Wealth Management LLC purchased a new position in Bank of America during the 2nd quarter valued at about $28,000. Steph & Co. increased its holdings in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the period. Finally, CGC Financial Services LLC lifted its position in shares of Bank of America by 585.4% in the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BAC. The Goldman Sachs Group lowered their price objective on shares of Bank of America from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. UBS Group lifted their target price on shares of Bank of America from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Thursday, October 30th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of America from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday. Twenty-three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.59.

Trending Headlines about Bank of America

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

• Positive Sentiment: Analysts expect double?digit profit growth for BAC in fiscal Q4 2025, setting the bar for an earnings beat that could lift the stock if results and guidance are strong. Read More.
• Positive Sentiment: Investment banking fee momentum (more deals, IPOs and easing rates) is expected to boost BAC’s fee income in 2025–26 — a structural revenue tailwind that supports higher margins and valuation. Read More.
• Positive Sentiment: Oppenheimer raised its price target to $63 and kept an outperform view, signaling stronger analyst conviction and potential upside from upgrades. Analyst upgrades/target raises often support near?term buying. Read More.
• Positive Sentiment: Truist raised its price target (to $58) and has maintained a buy stance — additional institutional buy ratings are reinforcing positive momentum. Read More.
• Positive Sentiment: Keefe, Bruyette & Woods and other houses have reiterated outperform/buy views, adding to the cluster of favorable analyst coverage that can attract flows. Read More.
• Neutral Sentiment: Zacks notes elevated investor attention on BAC; heightened searches can amplify moves but aren’t directional by themselves. Read More.
• Neutral Sentiment: Bank of America Securities analysts remain active on many names (ratings and notes across sectors); this shows institutional research strength but is indirect for BAC’s price. Read More.
• Negative Sentiment: Bank of America’s own Bull & Bear Indicator flagged that extreme bullishness among fund managers has triggered a contrarian “sell” signal — historically associated with pullbacks, which could cap gains or trigger volatility. Read More.
• Negative Sentiment: MarketWatch coverage highlights that BofA’s sell?signal has been triggered and discusses historical outcomes, reinforcing risk-averse positioning by some managers and possible outflows. Read More.

Bank of America Stock Up 1.7%

BAC stock opened at $55.19 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a market cap of $403.02 billion, a PE ratio of 15.04 and a beta of 1.30. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $56.07. The company has a fifty day simple moving average of $52.89 and a 200 day simple moving average of $49.86.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. Bank of America’s payout ratio is presently 30.52%.

Bank of America Profile

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.