Bank of America Corporation $BAC Stock Bought by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 100.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,415 shares of the financial services provider’s stock after acquiring an additional 34,312 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Bank of America were worth $3,724,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BAC. Total Clarity Wealth Management Inc. raised its stake in Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 168 shares during the last quarter. Orca Wealth Management LLC lifted its holdings in Bank of America by 0.5% in the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock valued at $1,999,000 after purchasing an additional 179 shares in the last quarter. Financial Consulate Inc. lifted its holdings in Bank of America by 4.0% in the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 181 shares in the last quarter. Bedel Financial Consulting Inc. boosted its stake in shares of Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC boosted its stake in shares of Bank of America by 3.6% during the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds 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: Analyst support and potential earnings recovery: Baird upgraded BAC to Outperform with a $62 price target, while other analysts maintained Buy or Outperform ratings despite reducing targets. Management also projected at least 8% net interest income growth in 2027, supported by loan and deposit expansion. Baird Upgrades Bank of America Stock Despite a Soft Quarter
• Positive Sentiment: Regulatory remediation is progressing: Bank of America said it has completed substantial work required under a consent order, potentially helping reduce longer-term compliance uncertainty. The bank’s CEO also described the U.S. economy as resilient and growing. Bank of America says it has completed a lot of work on consent order
• Neutral Sentiment: Preferred dividends declared: The board authorized regular cash dividends on multiple preferred-stock series, payable in November and December. The announcement supports the bank’s capital-distribution profile but does not represent a new increase in BAC common-stock dividends. Bank of America Declares Preferred Stock Dividends
• Negative Sentiment: Q3 earnings missed expectations: BAC reported adjusted earnings of $1.08 per share versus a $1.10 consensus, while revenue also fell short. A $1.2 billion anti-money-laundering and sanctions penalty reduced earnings, and expenses grew faster than revenue; weaker fixed-income trading and settlement costs added pressure. Bank of America Stock Sell-Off Looks Like a Buying Opportunity
• Negative Sentiment: Compliance and litigation overhang: Senator Elizabeth Warren criticized the penalty as insufficient, while several law firms announced investigations into potential securities claims and fiduciary-duty issues. These developments could increase legal costs and prolong reputational concerns. Rosen Law Firm Investigation

Analysts Set New Price Targets

BAC has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a report on Monday, October 5th. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of America from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday. HSBC initiated coverage on shares of Bank of America in a research report on Monday, September 28th. They set a “buy” rating and a $65.00 target price on the stock. Jefferies Financial Group decreased their target price on shares of Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Finally, Rothschild & Co Redburn set a $72.00 target price on shares of Bank of America in a research note on Tuesday, October 6th. Twenty research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.52.

Bank of America Trading Down 0.8%

NYSE BAC opened at $51.28 on Friday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a 50-day moving average of $59.05 and a 200-day moving average of $56.69. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $358.59 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.84 and a beta of 1.21.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The company had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Bank of America Corporation will post 4.57 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders 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. The ex-dividend date was Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America’s dividend payout ratio (DPR) is 29.36%.

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.