Ethic Inc. Purchases 40,215 Shares of Bank of America Corporation $BAC

Ethic Inc. increased its position in Bank of America Corporation (NYSE:BAC) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 561,128 shares of the financial services provider’s stock after acquiring an additional 40,215 shares during the quarter. Ethic Inc.’s holdings in Bank of America were worth $30,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. raised its position in Bank of America by 3.6% during 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 in the last quarter. Orca Wealth Management LLC grew its position in shares of Bank of America by 0.5% during the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after buying an additional 179 shares in the last quarter. Financial Consulate Inc. grew its position in shares of Bank of America by 4.0% during the 2nd quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after buying an additional 181 shares in the last quarter. Bedel Financial Consulting Inc. grew its position 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 buying an additional 184 shares in the last quarter. Finally, GatePass Capital LLC increased its stake in shares of Bank of America by 3.6% during the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider’s stock valued at $266,000 after buying an additional 190 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Bank of America from $62.00 to $59.50 and set an “overweight” rating for the company in a report on Friday, October 30th. TD Cowen dropped their target price on shares of Bank of America from $60.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Morgan Stanley cut their target price on shares of Bank of America from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Phillip Securities upgraded shares of Bank of America to a “strong-buy” rating in a report on Friday, October 16th. Finally, Truist Financial reduced their price target on shares of Bank of America from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.48.

Bank of America Stock Performance

Shares of Bank of America stock opened at $49.54 on Friday. The company has a market capitalization of $341.82 billion, a PE ratio of 11.77, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a 50-day simple moving average of $55.24 and a two-hundred day simple moving average of $54.89. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82.

Bank of America (NYSE:BAC) last released its quarterly 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). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The firm had revenue of $29.96 billion during the quarter, compared to the consensus estimate of $30.58 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts expect that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. Bank of America’s dividend payout ratio is presently 30.40%.

More Bank of America News

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

• Positive Sentiment: Bank of America may have room to grow revenue by offering more banking products to Merrill clients, supported by rising wealth balances and lending growth. Read article: BAC Sees Untapped Merrill Banking Potential
• Neutral Sentiment: Consumer banking chief Holly O’Neill expressed optimism about AI’s potential for financial innovation, but the interview did not announce a specific initiative or financial target. Read article: Bank of America’s Holly O’Neill on AI
• Negative Sentiment: A securities class action has been filed on behalf of investors who acquired BAC shares from August 1, 2025, through October 13, 2026. The suit alleges misleading statements; the claims have not been proven. The lead-plaintiff deadline is December 15, adding legal and reputational uncertainty. Read article: Securities class action notice
• Negative Sentiment: Investor-law-firm notices also spotlight Senator Elizabeth Warren’s call for a Justice Department criminal investigation following the bank’s admission that it willfully violated federal anti-money-laundering laws. Further scrutiny could increase legal, compliance, and reputational risks. Read article: BAC investor alert on regulatory scrutiny

Bank of America Profile

Bank of America Corporation is a financial services company serving consumers, businesses, institutional investors and government entities. Its offerings include checking and savings accounts, credit and debit cards, mortgages, auto loans and other lending, as well as payment and treasury services.

The company also provides investment and wealth management through Merrill and Bank of America Private Bank, and serves corporate and institutional clients with commercial banking, capital markets, trading and advisory services.

Bank of America traces its history to the Bank of Italy, founded in San Francisco in 1904 by Amadeo Peter Giannini.