17,694 Bank of America Corporation $BAC Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 256,392 shares of the financial services provider’s stock after buying an additional 17,694 shares during the quarter. Park Avenue Securities LLC’s holdings in Bank of America were worth $13,955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its stake in shares of Bank of America by 1.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 109,770 shares of the financial services provider’s stock worth $5,975,000 after buying an additional 1,155 shares during the period. National Wealth Management Group LLC purchased a new position in shares of Bank of America during the 3rd quarter valued at approximately $242,000. AGH Wealth Advisors LLC lifted its position in shares of Bank of America by 1.3% during the 3rd quarter. AGH Wealth Advisors LLC now owns 18,438 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 228 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Bank of America by 1.1% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 41,486 shares of the financial services provider’s stock valued at $2,258,000 after acquiring an additional 450 shares during the period. Finally, Patton Albertson Miller Group LLC grew its stake in Bank of America by 0.6% in the 3rd quarter. Patton Albertson Miller Group LLC now owns 106,530 shares of the financial services provider’s stock valued at $5,798,000 after acquiring an additional 673 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BAC shares. JPMorgan Chase & Co. cut their price target on shares of Bank of America from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Phillip Securities raised shares of Bank of America to a “strong-buy” rating in a report on Friday, October 16th. Wells Fargo & Company dropped their target price on shares of Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Finally, Evercore set a $62.00 target price on shares of Bank of America in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.82.

Key Bank of America News

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

• Positive Sentiment: Bank of America is participating with Blackstone, Citi and Morgan Stanley in a $63 billion financing structure to support Anthropic’s AI computing capacity, with Broadcom-related deliveries expected to begin in 2027. The deal could generate financing fees and strengthen BofA’s position in technology and AI-related banking. AI financing announcement
• Neutral Sentiment: Bank of America added two directors to its board, though the reports do not identify a material change in strategy or financial outlook. The bank also exited substantial-holder positions in Zip Co and European Lithium, actions that appear portfolio-related rather than fundamental to BAC’s earnings. Board appointments
• Negative Sentiment: Several law firms publicized or promoted a securities class action against Bank of America and certain executives. The complaints allege that the company misled investors about the scope and financial consequences of AML and Bank Secrecy Act compliance failures following approximately $1.2 billion to $1.21 billion in penalties. Investors who purchased shares between August 1, 2025, and October 13, 2026, may seek lead-plaintiff status by December 15, 2026. The allegations could increase legal costs, regulatory scrutiny and reputational risk, although they have not been proven in court. Securities class action report Investor alert
• Negative Sentiment: A separate lawsuit alleges a former executive was pressured to resign after seeking to relocate while caring for his mother. Although this case is unlikely to drive earnings directly, it adds to broader litigation and workplace-governance concerns surrounding BAC. Former executive lawsuit

Bank of America Stock Up 0.3%

Shares of NYSE:BAC opened at $50.67 on Wednesday. The business’s 50 day moving average price is $57.19 and its 200-day moving average price is $55.04. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.02). The company had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.06 EPS. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.52 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%.

Bank of America Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.