Bank of America Corporation $BAC Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its stake in shares of Bank of America Corporation (NYSE:BAC) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 428,350 shares of the financial services provider’s stock after selling 17,558 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Bank of America were worth $23,315,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in shares of Bank of America in the second quarter valued at $2,571,060,000. Deutsche Bank AG acquired a new stake in shares of Bank of America during the second quarter valued at $2,359,172,000. Bank of New York Mellon Corp acquired a new stake in shares of Bank of America during the second quarter valued at $2,313,953,000. Amundi increased its position in Bank of America by 12.5% during the 1st quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock worth $2,066,274,000 after purchasing an additional 4,721,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Bank of America by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday, July 15th. Rothschild & Co Redburn set a $72.00 price objective on shares of Bank of America in a research report on Tuesday, October 6th. Finally, Barclays cut their price objective on shares of Bank of America from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, October 15th. Twenty analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $62.52.

Bank of America Trading Up 1.0%

Shares of NYSE BAC traded up $0.49 on Tuesday, reaching $50.88. 19,463,866 shares of the company traded hands, compared to its average volume of 37,707,371. The stock has a market capitalization of $355.80 billion, a PE ratio of 12.08, a P/E/G ratio of 0.87 and a beta of 1.21. 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 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 moving average of $58.78 and a 200 day moving average of $56.76.

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

Bank of America Increases Dividend

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

Bank of America News Summary

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

• Positive Sentiment: Loan growth is outpacing deposit growth. Second-quarter average loans rose 8% year over year versus 2% deposit growth, while net interest income increased 9%. This suggests BAC is still expanding earning assets and benefiting from its funding base, although deposit costs remain important. Bank of America deposit franchise and lending article
• Positive Sentiment: Some analysts see upside after the recent selloff. Bank of America was upgraded to a Buy rating by JLPascual, while commentary from Morgan Stanley suggested the stock may already reflect much of the $1.2 billion regulatory penalty and recent fee weakness. Bank of America Buy rating article
• Positive Sentiment: Long-term capital allocation remains supportive. BAC has reduced its share count by nearly one-third over the past decade, highlighting the potential benefit of buybacks to per-share earnings and shareholder returns. Bank of America share count article
• Neutral Sentiment: Interest-rate expectations remain unsettled. Bank of America analysts continue to expect an October Federal Reserve rate hike despite markets assigning relatively low odds to one. Higher rates could support net interest income, but rising Treasury yields and uncertainty have pressured bank stocks broadly. Bank of America October rate hike article
• Neutral Sentiment: AI and wealth-management initiatives offer longer-term opportunities. BAC is restricting autonomous AI agents from moving customer funds, while its family-office research points to growing demand for private markets and alternative investments. These developments are strategically relevant but have limited immediate earnings impact. Bank of America AI access rules article
• Negative Sentiment: Regulatory and litigation risks remain the largest overhang. A Treasury penalty exceeding $1.2 billion tied to anti-money-laundering and sanctions-compliance violations has prompted multiple securities-fraud lawsuits and law-firm investigations. The actions could increase legal costs and scrutiny, although the ultimate financial impact is uncertain. Bank of America investor alert article
• Negative Sentiment: The latest earnings report fell short of expectations. BAC reported quarterly EPS of $1.08 versus the $1.10 consensus estimate, while revenue of $29.96 billion missed the $30.58 billion forecast. The shortfall has fueled concerns about fee income and near-term earnings momentum.

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.