16,315 Bank of America Corporation $BAC Shares Bought by CRA Financial Services LLC

CRA Financial Services LLC lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 36.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 61,185 shares of the financial services provider’s stock after buying an additional 16,315 shares during the quarter. CRA Financial Services LLC’s holdings in Bank of America were worth $3,330,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BAC. Total Clarity Wealth Management Inc. boosted its stake in Bank of America by 3.6% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 168 shares during the last quarter. Orca Wealth Management LLC increased its holdings in shares of Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 179 shares in the last quarter. Financial Consulate Inc. raised its stake in shares of Bank of America by 4.0% in the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the last quarter. Bedel Financial Consulting Inc. raised its stake in shares of Bank of America by 1.1% in the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC raised its stake in shares of Bank of America by 3.6% in the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 190 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a report on Tuesday, October 6th. Barclays decreased their target price on Bank of America from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods lowered 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 note on Thursday. Finally, Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday, July 15th. Twenty investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.52.

Bank of America News Roundup

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

• Positive Sentiment: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Bank of America Stock Down 0.8%

Shares of BAC stock opened at $51.28 on Friday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock has a market cap of $358.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.83 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The company has a 50 day simple moving average of $59.05 and a two-hundred day simple moving average of $56.69.

Bank of America (NYSE:BAC) last released 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). The business had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, research analysts expect that Bank of America Corporation will post 4.54 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 30.40%.

Bank of America Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.