OneAscent Financial Services LLC Cuts Stock Holdings in Bank of America Corporation $BAC

OneAscent Financial Services LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 29.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,768 shares of the financial services provider’s stock after selling 11,039 shares during the quarter. OneAscent Financial Services LLC’s holdings in Bank of America were worth $1,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Bank of America in the 2nd quarter worth about $5,091,641,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock worth $833,771,000 after buying an additional 9,782,208 shares during the last quarter. ABN AMRO Bank N.V. bought a new position in shares of Bank of America in the second quarter valued at approximately $202,439,000. OMERS ADMINISTRATION Corp increased its position in shares of Bank of America by 881.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 4,210,388 shares of the financial services provider’s stock valued at $199,236,000 after acquiring an additional 3,781,417 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in Bank of America by 62.9% during the second quarter. AMF Tjanstepension AB now owns 8,904,561 shares of the financial services provider’s stock worth $421,564,000 after acquiring an additional 3,438,876 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BAC shares. Daiwa Capital Markets upped their price objective on Bank of America from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. CICC Research assumed coverage on shares of Bank of America in a research report on Wednesday, January 14th. They set an “outperform” rating and a $62.00 price target for the company. Morgan Stanley lowered their price objective on shares of Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. TD Cowen dropped their target price on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Finally, Piper Sandler increased their target price on shares of Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

Bank of America Stock Down 1.3%

BAC opened at $51.75 on Monday. 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 $377.87 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.26 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 $54.06 and a 200 day moving average of $51.39.

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. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

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.