Tema Etfs LLC Purchases New Shares in Bank of America Corporation $BAC

Tema Etfs LLC bought a new position in Bank of America Corporation (NYSE:BAC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 122,923 shares of the financial services provider’s stock, valued at approximately $6,342,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. boosted its holdings in shares of Bank of America by 75.2% in the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 227 shares during the period. Quaker Wealth Management LLC boosted its holdings in shares of Bank of America by 246.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 880 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in Bank of America in the second quarter worth approximately $28,000. Steph & Co. grew its holdings in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the last quarter. Finally, CGC Financial Services LLC boosted its position in Bank of America by 585.4% during the second quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after buying an additional 521 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BAC. Wall Street Zen lowered Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, January 5th. The Goldman Sachs Group lifted their price target on shares of Bank of America from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Piper Sandler lifted their price objective on shares of Bank of America from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of America from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $59.82.

Bank of America Stock Performance

Shares of NYSE BAC opened at $55.81 on Monday. The stock has a market cap of $407.52 billion, a price-to-earnings ratio of 15.21 and a beta of 1.29. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company has a 50 day simple moving average of $54.14 and a two-hundred day simple moving average of $51.04. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $27.05 billion. During the same quarter last year, the company earned $0.81 EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 5th were given a $0.28 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. Bank of America’s payout ratio is currently 30.52%.

Bank of America News Roundup

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

• Positive Sentiment: TD Cowen raised its price target on BAC to $66, which supports upside thesis and signals some analysts see more runway for the shares. TD Cowen Boosts Bank of America Price Target
• Positive Sentiment: HSBC upgraded BAC from Hold to Strong‑Buy, adding institutional endorsement that counters some negative headlines. Hsbc Global Res Upgrade (Zacks)
• Neutral Sentiment: Wall Street previews and Q4 previews expect solid EPS and loan growth but flag metrics to watch (NIMs, credit, fees) into the report — these set expectations that could amplify moves on the actual print. BAC Q4 Earnings Preview (Zacks)
• Neutral Sentiment: Bank of America announced accounting guidance changes for tax‑equity investments and is pushing into fixed‑income & digital‑asset services — strategic shifts that investors will watch for revenue mix and capital impact. Accounting Update for Tax Equity Investments Fixed-Income/Digital Asset Push (Yahoo)
• Neutral Sentiment: Corporate/community news: BofA awarded $1M to rebuild a YMCA — positive PR but immaterial to near‑term earnings. BofA $1M Grant to Rebuild YMCA
• Neutral Sentiment: BofA bought ~200k shares of India’s MTAR in a bulk deal — showing the bank’s trading/investment activity but not directly affecting BAC fundamentals. BofA Buys MTAR Shares (Economic Times)
• Negative Sentiment: India’s regulator (SEBI) and related reports allege BofA shared confidential information ahead of a $180M block trade and misled investigators; the bank is reportedly seeking to settle. This regulatory/legal risk is the main downward catalyst — it could lead to fines, settlements or reputational damage that worry investors. India Regulator Finds BofA Shared Confidential Info (Reuters) SEBI Alleges Breach in 2024 Deal (Economic Times)
• Negative Sentiment: Wolfe Research downgraded BAC to a Hold — a haircut from a respected shop that can pressure the stock by reducing demand from some institutional buyers. Wolfe Research Downgrade

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.