Bank of America Corporation $BAC Stock Position Increased by Howard Capital Management Group LLC

Howard Capital Management Group LLC raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 654.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,803 shares of the financial services provider’s stock after purchasing an additional 103,057 shares during the period. Howard Capital Management Group LLC’s holdings in Bank of America were worth $6,466,000 as of its most recent filing with the Securities & Exchange Commission.

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

Bank of America Stock Performance

Bank of America stock opened at $51.28 on Friday. The company’s 50-day moving average price is $59.05 and its 200-day moving average price is $56.69. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17. The company has a market cap of $358.59 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 0.83 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced 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 net margin of 16.80% and a return on equity of 12.15%. The business had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Corporation will post 4.54 EPS 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. Investors of record on Friday, September 4th were given a $0.32 dividend. 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 2.5%. The ex-dividend date was Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is 30.40%.

Key Stories Impacting Bank of America

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HSBC initiated coverage on Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 price target for the company. Evercore set a $62.00 price objective on Bank of America in a report on Thursday, October 1st. Royal Bank Of Canada decreased their price objective on Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, TD Cowen lowered their target price on Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a research report on Thursday. Twenty analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.52.

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.