29,192 Bank of America Corporation $BAC Shares Acquired by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 71.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 70,101 shares of the financial services provider’s stock after acquiring an additional 29,192 shares during the period. WealthPlan Investment Management LLC’s holdings in Bank of America were worth $3,816,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Legal & General Group Plc purchased a new stake in Bank of America during the 2nd quarter worth approximately $2,571,060,000. Amundi increased its stake in 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. Deutsche Bank AG purchased a new position in shares of Bank of America in the second quarter worth $2,359,172,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America in the second quarter worth $2,313,953,000. 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 worth $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 News Roundup

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

• Positive Sentiment: Management expects at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Third-quarter net interest income rose 8% year over year to approximately $16.4 billion, while average loans increased 6% and deposits grew 2%. BAC Q3 Earnings Call Highlights NII Growth and Trading Pressure
• Positive Sentiment: Consumer banking and wealth management were relative bright spots. Wealth-management revenue increased 13% year over year, and the bank returned $8.3 billion to shareholders through dividends and share repurchases. Merrill Lynch’s Fee-Based Advisory Assets Just Hit a Record $1.9 Trillion
• Positive Sentiment: Robert W. Baird upgraded BAC to “outperform” with a $62 target, while Keefe, Bruyette & Woods maintained “outperform” with a $65 target. These targets imply meaningful upside from recent trading levels.
• Neutral Sentiment: Management said it is addressing software and compliance weaknesses, including hiring roughly 1,000 contractors to patch vulnerabilities identified by Anthropic’s Mythos AI model. The added remediation work increases near-term costs but could reduce operational risk over time. Bank of America hired 1,000 contractors to patch software flaws
• Negative Sentiment: Third-quarter adjusted EPS of $1.08 and revenue of roughly $30.0 billion missed consensus estimates. Reported EPS was $0.91, down from $1.04 a year earlier, after a $1.2 billion non-tax-deductible regulatory charge. Bank of America profit hurt by $1.2 billion fine
• Negative Sentiment: Regulators cited failures to report more than $5 billion in suspicious transactions and sanctions-compliance violations, producing penalties exceeding $1.2 billion and raising concerns about lingering compliance costs and management oversight.
• Negative Sentiment: Fixed-income trading revenue fell 17%, investment-banking activity weakened, and expenses grew faster than revenue. TD Cowen cut its target to $56 and Morgan Stanley reduced its target to $61, reflecting continued earnings and cost concerns.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BAC shares. JPMorgan Chase & Co. cut their target price on shares of Bank of America from $68.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Citigroup lifted their price target on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Truist Financial dropped their price target on Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a research report on Tuesday, October 6th. Finally, Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

Bank of America Price Performance

NYSE BAC traded up $0.44 during trading hours on Thursday, hitting $51.83. 19,223,709 shares of the company’s stock traded hands, compared to its average volume of 37,502,891. The company has a market capitalization of $362.45 billion, a PE ratio of 11.88, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The firm’s 50-day moving average is $59.51 and its 200-day moving average is $56.69.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The business had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.06 earnings per share. Equities analysts forecast that Bank of America Corporation will post 4.60 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a $0.32 dividend. This is a boost from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is 29.36%.

Bank of America 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.