Essex Financial Services Inc. Reduces Position in Bank of America Corporation $BAC

Essex Financial Services Inc. cut its position in Bank of America Corporation (NYSE:BAC) by 8.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,042 shares of the financial services provider’s stock after selling 10,538 shares during the period. Essex Financial Services Inc.’s holdings in Bank of America were worth $6,038,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Syon Capital LLC boosted its holdings in Bank of America by 13.2% in the third quarter. Syon Capital LLC now owns 90,258 shares of the financial services provider’s stock valued at $4,656,000 after purchasing an additional 10,535 shares during the last quarter. BOK Financial Private Wealth Inc. boosted its stake in shares of Bank of America by 26.5% in the third quarter. BOK Financial Private Wealth Inc. now owns 1,636 shares of the financial services provider’s stock worth $84,000 after buying an additional 343 shares during the last quarter. Condor Capital Management grew its holdings in Bank of America by 6.3% during the third quarter. Condor Capital Management now owns 5,764 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 342 shares during the period. Waycross Partners LLC lifted its holdings in Bank of America by 50.0% in the third quarter. Waycross Partners LLC now owns 75,000 shares of the financial services provider’s stock valued at $3,869,000 after acquiring an additional 25,000 shares during the period. Finally, Hodges Capital Management Inc. boosted its position in Bank of America by 31.7% in the 3rd quarter. Hodges Capital Management Inc. now owns 60,692 shares of the financial services provider’s stock worth $3,131,000 after purchasing an additional 14,623 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

Shares of NYSE BAC opened at $52.67 on Wednesday. The firm has a 50-day simple moving average of $54.38 and a 200-day simple moving average of $52.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $384.62 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.28 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.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the prior year, the company earned $0.82 EPS. Bank of America’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s research surveys on AI spending, corporate capex and dollar sentiment are getting broad coverage, reinforcing BAC’s role as a market influencer — this visibility can support trading and fee businesses tied to research and advisory. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Positive Sentiment: CEO Brian Moynihan’s public comments downplaying AI-driven job losses position management as constructive on technology adoption — that can reassure investors focused on execution and the bank’s technology strategy. Brian Moynihan isn’t so worried about an AI jobs bloodbath
• Neutral Sentiment: Bank of America disclosed it crossed a >5% ownership threshold in biotech Galapagos NV — a notable portfolio move that may reflect the firm’s principal-investment activity but isn’t directly tied to core banking earnings. Bank of America Lifts Stake in Galapagos Above 5% Transparency Threshold
• Neutral Sentiment: Analytical coverage of BAC valuation and mixed momentum may keep the stock range-bound — analysts and outlets are reassessing multiples even after recent earnings beats. Assessing Bank Of America (BAC) Valuation As Recent Returns Show Mixed Momentum
• Negative Sentiment: Warren Buffett’s Berkshire Hathaway trimmed its stake in Bank of America in the latest quarter — a high-profile reduction can sap confidence among some investors and put modest selling pressure on the shares. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position
• Negative Sentiment: Coverage that big-bank CEOs (including BAC’s) received pay increases after 2025 performance may raise governance scrutiny among investors focused on compensation and returns. Big Bank CEOs received serious pay bumps in 2025 Bank of America CEO Brian Moynihan sees compensation rise

Analyst Ratings Changes

Several analysts recently commented on the stock. Wolfe Research lowered shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Barclays increased their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Phillip Securities lifted their price target on Bank of America from $50.00 to $56.00 in a research note on Tuesday, October 21st. Robert W. Baird increased their price target on Bank of America from $52.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.30.

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.