Crossmark Global Holdings Inc. Sells 37,008 Shares of Bank of America Corporation $BAC

Crossmark Global Holdings Inc. cut its holdings in Bank of America Corporation (NYSE:BAC) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,077,185 shares of the financial services provider’s stock after selling 37,008 shares during the quarter. Bank of America makes up approximately 0.7% of Crossmark Global Holdings Inc.’s portfolio, making the stock its 22nd largest holding. Crossmark Global Holdings Inc.’s holdings in Bank of America were worth $58,631,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America during the 2nd quarter worth about $25,000. Cherry Tree Wealth Management LLC grew its stake in shares of Bank of America by 167.6% during the 2nd 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 period. Principia Wealth Advisory LLC grew its position in Bank of America by 69.9% during the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 218 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Bank of America during the 2nd quarter worth approximately $34,000. Finally, Vermillion Wealth Management Inc. increased its position in shares of Bank of America by 199.1% in the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE BAC opened at $50.81 on Thursday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $355.29 billion, a PE ratio of 12.07, a P/E/G ratio of 0.88 and a beta of 1.21. The company’s 50 day simple moving average is $58.24 and its 200 day simple moving average is $56.78.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm had revenue of $29.96 billion for 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%. Bank of America’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. As a group, 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 company also recently declared 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 is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. Bank of America’s payout ratio is 30.40%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays dropped their target price on Bank of America from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Bank of America from $68.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. UBS Group reduced their price objective on Bank of America from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. TD Cowen cut their target price on shares of Bank of America from $60.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Finally, Jefferies Financial Group reduced their price target on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $62.82.

Bank of America News Summary

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

• Positive Sentiment: Bank of America declared a quarterly common-stock dividend of $0.32 per share, payable December 24 to shareholders of record on December 4. The continued payout supports the investment case for income-oriented shareholders. Bank of America Declares Fourth Quarter 2026 Stock Dividends
• Positive Sentiment: The bank appointed Jim Fitterling and Bill Thomas to its board, expanding the board from 12 to 14 directors. The additions may strengthen oversight and bring further industrial and corporate leadership experience. Bank of America Names Jim Fitterling and Bill Thomas to Board of Directors
• Neutral Sentiment: Bank of America’s wealth-management franchise remains a diversification benefit: Global Wealth and Investment Management generated approximately $1.41 billion in second-quarter net income, or about 16% of company earnings. Bank of America Wealth Business
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged disclosures surrounding Bank of America’s anti-money-laundering compliance issues and a reported $1.2 billion Treasury penalty. The repeated announcements increase reputational and potential litigation risk, although the allegations have not been proven. Lead-plaintiff motions are due December 15, 2026. ROSEN Bank of America Securities Class Action
• Negative Sentiment: The latest reported quarter also fell slightly short of expectations, with earnings of $1.08 per share versus a $1.10 consensus and revenue of $29.96 billion versus $30.58 billion. That performance may limit near-term enthusiasm despite year-over-year revenue growth.

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.