Wharton Business Group LLC Sells 13,299 Shares of Bank of America Corporation $BAC

Wharton Business Group LLC lowered its stake in Bank of America Corporation (NYSE:BAC) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 388,178 shares of the financial services provider’s stock after selling 13,299 shares during the quarter. Wharton Business Group LLC’s holdings in Bank of America were worth $20,026,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BAC. Quaker Wealth Management LLC grew its holdings in Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after buying an additional 880 shares in the last quarter. Steph & Co. raised its stake in Bank of America by 224.3% during the third 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. Collier Financial bought a new position in Bank of America during the third quarter valued at $30,000. Marquette Asset Management LLC bought a new stake in shares of Bank of America in the 3rd quarter worth about $30,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bank of America during the 3rd quarter valued at about $31,000. 70.71% of the stock is owned by institutional investors.

More Bank of America News

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

• Positive Sentiment: BofA announced a new no‑fee BofA Rewards loyalty program that will expand eligibility to over 30 million personal checking clients, supporting deposit growth, deeper card and wealth cross‑sell, and longer customer lifecycles. New BofA Rewards Program
• Positive Sentiment: Analysts note potential regulatory relief: if the Fed eases capital rules, large banks (including BofA) could regain mortgage market share from non‑bank originators, which would improve origination volumes and fee income. Zacks Analyst Blog on Mortgage Market Share
• Positive Sentiment: BofA is committing $25 billion of its own capital to private‑credit deals — a scale move that can lift fee and interest income and keeps deal economics on the bank’s balance sheet. Investors view this as an aggressive growth/return push, in line with peers. Reuters: BofA $25B Private Credit
• Neutral Sentiment: High retail and investor attention to BAC (search/coverage pieces) is increasing volatility but doesn’t change fundamentals immediately. Zacks: Investors Heavily Search BAC
• Neutral Sentiment: Options/strategist pieces are highlighting mean‑reversion trades in BAC — useful for traders but not a clear directional signal for long‑term investors. TipRanks: Options Trade on BAC
• Negative Sentiment: Coverage flags growing concerns about the health of the private‑credit sector; putting large balance‑sheet exposure into stressed credit could raise loss provisions and regulatory scrutiny. FT: Concerns on Private Credit
• Negative Sentiment: High‑profile selling reports (coverage noting a large Buffett sale) and headlines about risky concentrated stakes in volatile names can weigh on sentiment and drive short‑term outflows. Fool: Buffett Sold BAC

Analysts Set New Price Targets

Several research firms recently commented on BAC. Royal Bank Of Canada boosted their price objective on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Oppenheimer raised their price target on Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. HSBC boosted their price objective on shares of Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Finally, Wells Fargo & Company raised their target price on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America Trading Down 0.1%

BAC traded down $0.03 on Friday, reaching $52.74. 5,763,879 shares of the company traded hands, compared to its average volume of 39,201,969. The company has a market cap of $385.13 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a one year low of $33.06 and a one year high of $57.55. The firm has a fifty day simple moving average of $54.33 and a two-hundred day simple moving average of $52.17.

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

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. Bank of America’s dividend payout ratio is currently 29.24%.

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.