TD Waterhouse Canada Inc. Cuts Stock Holdings in Bank of America Corporation $BAC

TD Waterhouse Canada Inc. decreased its position in Bank of America Corporation (NYSE:BAC) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 895,406 shares of the financial services provider’s stock after selling 22,286 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Bank of America were worth $45,366,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BAC. Brighton Jones LLC grew its holdings in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 6,174 shares during the period. Chicago Capital LLC increased its position in shares of Bank of America by 2.3% during the 2nd quarter. Chicago Capital LLC now owns 20,410 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 451 shares during the last quarter. Powers Advisory Group LLC raised its stake in shares of Bank of America by 7.3% during the 2nd quarter. Powers Advisory Group LLC now owns 9,798 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 668 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Bank of America by 58.8% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 161,960 shares of the financial services provider’s stock worth $7,664,000 after buying an additional 60,000 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BAC shares. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, January 7th. The Goldman Sachs Group raised their price target on shares of Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday. Ameriprise Financial upgraded Bank of America to a “buy” rating in a research note on Wednesday, October 22nd. Barclays increased their price objective on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Argus boosted their target price on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Bank of America Stock Down 0.7%

BAC opened at $51.82 on Thursday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company has a market cap of $378.44 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average of $54.08 and a 200 day moving average of $51.47.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, sell-side analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Key Bank of America News

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

• Positive Sentiment: Analysts and valuation bulls still see upside — several write-ups point to BAC’s low P/E and multi-analyst buy calls that imply ~20–25% upside, supporting a buy-the-dip narrative. Bank of America’s Rock-Bottom P/E and 25% Upside Potential
• Positive Sentiment: Short interest fell sharply in January (down ~12.4%), reducing one source of downward pressure and indicating fewer active bearish bets on the stock.
• Neutral Sentiment: Internal HR/PR move — BofA will match a $1,000 pilot contribution to employee “Trump Accounts,” per an internal memo; important for employee retention/PR but not material to fundamentals. BofA to match US government’s pilot contribution to Trump Accounts, memo says
• Neutral Sentiment: Bank of America increased a disclosed stake in Flutter Entertainment — a portfolio/positioning update that shows ongoing trading/investment activity but is not a core-bank earnings driver. Bank of America Boosts Stake in Flutter Entertainment
• Negative Sentiment: BofA strategists flag rising long-term yields as a market risk — the firm’s chief investment strategist warned the U.S. Treasury “cannot allow” the 30‑year yield to move above ~5%, signaling the market is sensitive to long-end rate moves; rising long yields can trigger equity volatility and weigh on bank trading/market sentiment. Top Bank of America strategist says the long bond is nearing the key line in the sand
• Negative Sentiment: Analysts trimming near-term price targets — Daiwa cut its BAC target (from $66 to $62) and some outlets note lower targets from others even as ratings remain largely constructive, which can pressure sentiment and spark short-term selling. Daiwa adjusts price target on Bank of America to $62 from $66
• Negative Sentiment: BofA’s own survey signals “hyper-bull” sentiment among fund managers — historically associated with elevated correction risk; combined with strategist warnings about the long bond, this raises short-term downside risk for cyclicals and big banks. This Signal Just Flashed for the First Time in 8 Years

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.