KMG Fiduciary Partners LLC Purchases 18,448 Shares of Bank of America Corporation $BAC

KMG Fiduciary Partners LLC boosted its position in Bank of America Corporation (NYSE:BAC) by 136.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,988 shares of the financial services provider’s stock after purchasing an additional 18,448 shares during the period. KMG Fiduciary Partners LLC’s holdings in Bank of America were worth $1,741,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of Bank of America in the 2nd quarter worth about $2,571,060,000. Deutsche Bank AG acquired a new position in shares of Bank of America in the 2nd quarter valued at about $2,359,172,000. Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the 2nd quarter valued at about $2,313,953,000. Amundi boosted its position in shares of Bank of America by 12.5% during the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Bank of America by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock worth $1,517,599,000 after purchasing an additional 561,413 shares during the period. 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 firm has a market capitalization of $377.93 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.21. The firm’s 50-day moving average price is $59.75 and its 200-day moving average price is $56.67. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. 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 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). Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $29.96 billion during the quarter, compared to analyst estimates of $30.58 billion. Equities research analysts anticipate that Bank of America Corporation will post 4.60 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.32 per share. This is an increase 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 yield of 2.4%. Bank of America’s dividend payout ratio (DPR) is currently 29.36%.

Bank of America News Summary

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

• Positive Sentiment: Underlying banking trends were constructive: net interest income increased 8% year over year to $16.4 billion, average deposits rose 2% to $2.02 trillion, and average loans and leases grew 6% to $1.23 trillion. Bank of America also returned $8.3 billion to shareholders through dividends and share repurchases. Bank of America Reports $6.9 Billion Third-Quarter Net Income
• Neutral Sentiment: Reported third-quarter net income was $6.9 billion, while revenue reached approximately $30.0 billion. Credit costs included $1.3 billion of provision expense and $1.3 billion in net charge-offs, keeping asset quality and loan-loss trends important for investors. Bank of America Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Headline earnings missed expectations. One market report cited EPS of $1.08 versus a $1.10 consensus, while the company’s reported diluted EPS was $0.91, down from $1.04 a year earlier, after including a large regulatory charge. Revenue of about $30.0 billion was also below the roughly $30.6 billion estimate. Bank of America Third-Quarter Earnings
• Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties over anti-money-laundering and sanctions-compliance failures, including the alleged failure to report more than $5 billion in suspicious transactions. Bank of America acknowledged willful Bank Secrecy Act violations, raising concerns about governance, controls and potential future regulatory scrutiny. Bank of America Hit With More Than $1.2 Billion in Penalties

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BAC shares. Royal Bank Of Canada lifted their target price on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. TD Cowen initiated coverage on Bank of America in a report on Thursday, October 8th. They set a “hold” rating and a $60.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Truist Financial reduced their price objective on shares of Bank of America from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, October 1st. Finally, Evercore set a $62.00 price objective on shares of Bank of America in a research note on Thursday, October 1st. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Bank of America Company Profile

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.