Howard Capital Management LLC Acquires 13,230 Shares of Bank of America Corporation $BAC

Howard Capital Management LLC boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,338 shares of the financial services provider’s stock after acquiring an additional 13,230 shares during the quarter. Howard Capital Management LLC’s holdings in Bank of America were worth $3,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its stake in Bank of America by 45.4% during the second quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider’s stock worth $2,336,000 after purchasing an additional 12,794 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Bank of America in the second quarter valued at $4,089,000. Bernicke Wealth Management Ltd. purchased a new stake in shares of Bank of America in the 2nd quarter valued at $2,132,000. Legacy Private Trust Co. raised its holdings in shares of Bank of America by 11.7% in the 3rd quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider’s stock valued at $6,267,000 after buying an additional 12,016 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Bank of America in the 2nd quarter valued at $94,447,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

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

Bank of America Stock Down 0.8%

Shares of Bank of America stock traded down $0.42 during trading hours on Friday, reaching $51.28. 64,306,447 shares of the company were exchanged, compared to its average volume of 41,999,672. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The stock’s fifty day moving average is $59.05 and its 200 day moving average is $56.69. 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 firm has a market cap of $358.59 billion, a PE ratio of 12.18, a PEG ratio of 0.84 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced 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 during 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 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. As a group, equities research analysts forecast that Bank of America Corporation will post 4.57 earnings per share for the current 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 issued a dividend of $0.32 per share. This is a positive change 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 yield of 2.5%. Bank of America’s dividend payout ratio (DPR) is currently 29.36%.

Analysts Set New Price Targets

BAC has been the subject of a number of research analyst reports. Truist Financial lowered their target price on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley cut their price target on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday. Twenty research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.52.

About Bank of America

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.