Pzena Investment Management LLC Sells 1,252,653 Shares of Bank of America Corporation $BAC

Pzena Investment Management LLC cut its position in shares of Bank of America Corporation (NYSE:BAC) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,057,710 shares of the financial services provider’s stock after selling 1,252,653 shares during the period. Pzena Investment Management LLC owned approximately 0.07% of Bank of America worth $275,291,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America during the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC grew its stake in shares of Bank of America by 167.6% during the second quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Principia Wealth Advisory LLC raised 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 buying an additional 218 shares during the period. Balance Wealth Partners LLC bought a new stake in shares of Bank of America during the 3rd quarter worth approximately $33,000. 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 currently owned by institutional investors.

Trending Headlines about Bank of America

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

• Negative Sentiment: Senator Elizabeth Warren is reportedly urging the Justice Department to investigate Bank of America and its executives after the bank admitted willfully violating anti-money-laundering laws. A criminal probe could add legal, regulatory, and reputational risk beyond the enforcement resolution already reached. Article: BAC Subject to Increasing Scrutiny
• Negative Sentiment: A securities class action has been filed on behalf of investors who bought BAC shares between August 1, 2025, and October 13, 2026. The allegations remain unproven, but the case adds potential litigation costs and uncertainty; the lead-plaintiff deadline is December 15, 2026. Multiple law-firm notices relate to this same lawsuit. Article: Kaplan Fox class-action notice
• Negative Sentiment: A report cited a pessimistic UBS forecast for BAC, while another reported that the shares fell following an analyst downgrade. The supplied coverage does not provide the revised price target or rationale, but the downgrade may weigh on investor sentiment. Article: UBS Group Issues Pessimistic Forecast

Bank of America Price Performance

Shares of NYSE BAC opened at $51.61 on Thursday. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The company has a market cap of $356.14 billion, a PE ratio of 12.26, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day simple moving average of $55.72 and a two-hundred day simple moving average of $54.92.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). The company had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities analysts expect that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. Bank of America’s dividend payout ratio is presently 30.40%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. HSBC assumed coverage on Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 price objective for the company. Evercore set a $62.00 price objective on shares of Bank of America in a research report on Thursday, October 1st. Argus set a $70.00 target price on shares of Bank of America in a research note on Wednesday, July 15th. JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Finally, Wells Fargo & Company decreased their price target on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.48.

Bank of America Company 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.