Bank of America Corporation $BAC Stock Holdings Raised by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its holdings in Bank of America Corporation (NYSE:BAC) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,223,837 shares of the financial services provider’s stock after acquiring an additional 100,895 shares during the quarter. Bank of America makes up about 1.6% of Salem Investment Counselors Inc.’s holdings, making the stock its 17th biggest position. Salem Investment Counselors Inc.’s holdings in Bank of America were worth $66,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in Bank of America during the 2nd quarter worth $2,571,060,000. Deutsche Bank AG acquired a new position in Bank of America in the second quarter valued at $2,359,172,000. Bank of New York Mellon Corp acquired a new position in Bank of America in the second quarter valued at $2,313,953,000. Amundi increased its stake in Bank of America by 12.5% in the first quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock valued at $2,066,274,000 after purchasing an additional 4,721,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Bank of America by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock valued at $1,517,599,000 after buying an additional 561,413 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $54.05 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company has a market cap of $377.93 billion, a P/E ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a 50-day moving average price of $59.75 and a 200 day moving average price of $56.67.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Research analysts predict that Bank of America Corporation will post 4.60 earnings per share for the current year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.32 per share. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America’s dividend payout ratio (DPR) is currently 29.36%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BAC. TD Cowen began coverage on shares of Bank of America in a research note on Thursday, October 8th. They set a “hold” rating and a $60.00 target price for the company. UBS Group dropped their price target on Bank of America from $70.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Citigroup boosted their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Robert W. Baird upped their price objective on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Nineteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.22.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s most recent quarterly results exceeded expectations, with earnings per share of $1.21 versus the $1.13 consensus and revenue of $31.56 billion, up 19.6% year over year. Investors may look for continued revenue and lending strength in the upcoming report. Bank of America earnings outlook
• Neutral Sentiment: Bank of America is scheduled to report third-quarter results before the market opens on October 14. Analysts are focused on net interest income, lending growth, funding costs and management’s outlook amid elevated Treasury yields and broader weakness in bank stocks. Bank of America Q3 earnings preview
• Neutral Sentiment: Analyst estimates were modestly reduced by Erste Group Bank, which lowered its 2026 earnings forecast to $4.55 per share from $4.64 and its 2027 forecast to $5.22 from $5.25. The 2026 estimate is slightly below the broader consensus of $4.61. Bank of America earnings estimates
• Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties after finding that Bank of America failed to properly monitor transactions and timely report more than $5 billion in suspicious activity. The OCC’s $750 million penalty was described as its largest civil money penalty against a bank, while a separate $11.6 million settlement covered more than 400 apparent sanctions violations involving countries including Russia and Iran. Bank of America anti-money-laundering penalties
• Negative Sentiment: Bank of America said the enforcement action will create a $1.2 billion non-tax-deductible charge in third-quarter results, reducing quarterly earnings by approximately $0.17 per share. The penalty also raises concerns about compliance costs, remediation efforts and potential reputational damage. Bank of America third-quarter charge

About Bank of America

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.