Bank of America Corporation $BAC Stock Position Boosted by RDA Financial Network

RDA Financial Network raised its position in Bank of America Corporation (NYSE:BAC) by 150.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,523 shares of the financial services provider’s stock after purchasing an additional 23,769 shares during the period. RDA Financial Network’s holdings in Bank of America were worth $2,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new position in shares of Bank of America during the second quarter worth about $25,000. Cherry Tree Wealth Management LLC grew its holdings 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 worth $27,000 after buying an additional 300 shares in the last quarter. Principia Wealth Advisory LLC grew its holdings in shares of 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 worth $30,000 after buying an additional 218 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Bank of America in the 2nd quarter valued at approximately $34,000. Finally, Vermillion Wealth Management Inc. raised its position in Bank of America by 199.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after buying an additional 438 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC stock opened at $51.65 on Friday. The stock has a market cap of $361.15 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.83 and a beta of 1.21. The company has a fifty day moving average price of $59.29 and a two-hundred day moving average price of $56.72. Bank of America Corporation has a one year low of $46.12 and a one year 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.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $30.58 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Corporation will post 4.60 EPS for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is presently 29.36%.

Bank of America News Summary

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

• Positive Sentiment: Net interest income increased 8% year over year to approximately $16.4 billion, while average loans rose 6% and deposits grew 2%. Management also targeted at least 8% net-interest-income growth in 2027, supported by loan and deposit expansion. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management remained areas of strength, with Merrill’s fee-based advisory assets reaching a record $1.9 trillion. Bank of America also returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
• Positive Sentiment: Despite lower targets, several analysts retained favorable views. Baird upgraded BAC to “outperform,” while Citigroup, Truist and Keefe, Bruyette & Woods maintained buy or outperform ratings. The revised targets remain above the current share price.
• Neutral Sentiment: Bank of America said it has added roughly 1,000 contractors alongside 3,000 employees to address software vulnerabilities identified by advanced AI tools. The spending pressures near-term expenses but could reduce technology and operational risk over time. Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos
• Negative Sentiment: Regulators imposed more than $1.2 billion in penalties for failures involving anti-money-laundering, Bank Secrecy Act and sanctions compliance, including the failure to report more than $5 billion in suspicious transactions. The charge reduced reported third-quarter EPS and raised concerns about management’s controls and potential remediation costs. Bank of America profit hurt by $1.2 billion fine over anti-money laundering shortcomings
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Fixed-income trading revenue fell 17%, investment-banking activity weakened, expenses grew faster than revenue, and credit-loss provisions reached approximately $1.3 billion. Analysts subsequently lowered price targets, including Morgan Stanley, TD Cowen, Piper Sandler and Citigroup.
• Negative Sentiment: Multiple law firms announced investigations into potential securities-law violations or breaches of fiduciary duty following the penalty and earnings miss. These notices do not establish liability but add reputational and potential litigation risk for BAC investors.

Analyst Upgrades and Downgrades

Several research firms have commented on BAC. Keefe, Bruyette & Woods cut their target price on Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday. Truist Financial decreased their price target on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday. Barclays decreased their price target on shares of Bank of America from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup lowered their price objective on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Morgan Stanley cut their price objective on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. Twenty research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.52.

Bank of America Company Profile

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.