Channing Global Advisors LLC Sells 10,423 Shares of Bank of America Corporation $BAC

Channing Global Advisors LLC trimmed its stake in shares of Bank of America Corporation (NYSE:BAC) by 19.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,172 shares of the financial services provider’s stock after selling 10,423 shares during the quarter. Bank of America accounts for 1.5% of Channing Global Advisors LLC’s portfolio, making the stock its 18th largest holding. Channing Global Advisors LLC’s holdings in Bank of America were worth $2,227,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Quaker Wealth Management LLC raised its stake in Bank of America by 246.5% during the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 880 shares in the last quarter. Steph & Co. boosted its stake in shares of Bank of America by 224.3% in 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 in the last quarter. RMG Wealth Management LLC bought a new stake in shares of Bank of America in the 2nd quarter worth about $28,000. Marquette Asset Management LLC acquired a new stake in shares of Bank of America during the 3rd quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in Bank of America during the 3rd quarter valued at about $31,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 2.4%

NYSE BAC opened at $53.07 on Friday. The stock has a market capitalization of $387.54 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.27 and a beta of 1.29. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $57.55. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $54.12 and a 200-day moving average of $51.48.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BAC shares. Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. Robert W. Baird raised their price target on Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Citigroup raised their target price on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. 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 company. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Bank of America News Roundup

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

• Positive Sentiment: BofA CEO Brian Moynihan highlighted India as a major growth engine and said the bank will need more capital to fund expansion there — a signal of future investment and revenue opportunity in a high‑growth market. BofA CEO Brian Moynihan flags India as major growth engine, calls for more capital to fuel expansion
• Positive Sentiment: Internal memo/report: BofA will match the U.S. government’s $1,000 pilot contribution to eligible employees’ “Trump Accounts” — and related coverage notes the bank is expanding deposit and auto‑finance relationships — actions that can boost deposits and fee income. BofA to match US government’s pilot contribution to Trump Accounts, memo says
• Positive Sentiment: Short interest fell materially in January (down ~12.4% month‑to‑month), reducing near‑term short pressure and removing a technical headwind to the share price.
• Positive Sentiment: MarketBeat/analyst commentary highlights BAC’s attractive valuation (low P/E) and multiple buy ratings/target upgrades implying meaningful upside — a view that supports buying interest into recent pullbacks. Bank of America’s Rock-Bottom P/E and 25% Upside Potential
• Neutral Sentiment: Bank of America appointed Lo Piccolo as country head replacing Mattarella — a management change at the country level that is notable but not yet clearly material to the firm’s overall earnings outlook. Bank of America appoints Lo Piccolo as country head replacing Mattarella
• Neutral Sentiment: BofA strategists are publicly warning that the 30‑year Treasury yield is a key market hinge — commentary that can drive market volatility but is not a direct company fundamental. Top Bank of America strategist says the long bond is nearing the key line in the sand
• Negative Sentiment: Daiwa Capital Markets cut its expectations for BAC’s stock price, a reminder some sell‑side desks are more cautious and could weigh on sentiment if others follow. Daiwa Capital Markets Has Lowered Expectations for Bank of America (NYSE:BAC) Stock Price

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.