Bank of America Corporation $BAC Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,042 shares of the financial services provider’s stock after selling 10,538 shares during the quarter. Essex Financial Services Inc.’s holdings in Bank of America were worth $6,038,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BAC. Permanent Capital Management LP purchased a new position in Bank of America during the third quarter worth about $649,000. Meridian Wealth Management LLC lifted its holdings in shares of Bank of America by 54.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 58,308 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 20,591 shares during the last quarter. Lockheed Martin Investment Management Co. boosted its position in shares of Bank of America by 15.9% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 629,610 shares of the financial services provider’s stock worth $32,482,000 after purchasing an additional 86,290 shares during the period. World Equity Group Inc. increased its holdings in Bank of America by 21.8% in the 3rd quarter. World Equity Group Inc. now owns 73,188 shares of the financial services provider’s stock valued at $3,779,000 after purchasing an additional 13,119 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in Bank of America in the third quarter valued at approximately $482,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 0.2%

BAC stock opened at $52.67 on Wednesday. The company has a market cap of $384.62 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.28 and a beta of 1.29. The company has a fifty day moving average price of $54.38 and a 200 day moving average price of $52.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s research surveys on AI spending, corporate capex and dollar sentiment are getting broad coverage, reinforcing BAC’s role as a market influencer — this visibility can support trading and fee businesses tied to research and advisory. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Positive Sentiment: CEO Brian Moynihan’s public comments downplaying AI-driven job losses position management as constructive on technology adoption — that can reassure investors focused on execution and the bank’s technology strategy. Brian Moynihan isn’t so worried about an AI jobs bloodbath
• Neutral Sentiment: Bank of America disclosed it crossed a >5% ownership threshold in biotech Galapagos NV — a notable portfolio move that may reflect the firm’s principal-investment activity but isn’t directly tied to core banking earnings. Bank of America Lifts Stake in Galapagos Above 5% Transparency Threshold
• Neutral Sentiment: Analytical coverage of BAC valuation and mixed momentum may keep the stock range-bound — analysts and outlets are reassessing multiples even after recent earnings beats. Assessing Bank Of America (BAC) Valuation As Recent Returns Show Mixed Momentum
• Negative Sentiment: Warren Buffett’s Berkshire Hathaway trimmed its stake in Bank of America in the latest quarter — a high-profile reduction can sap confidence among some investors and put modest selling pressure on the shares. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position
• Negative Sentiment: Coverage that big-bank CEOs (including BAC’s) received pay increases after 2025 performance may raise governance scrutiny among investors focused on compensation and returns. Big Bank CEOs received serious pay bumps in 2025 Bank of America CEO Brian Moynihan sees compensation rise

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HSBC lifted their target price on Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, January 27th. The Goldman Sachs Group boosted their target price on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Evercore set a $59.00 price objective on Bank of America in a research note on Thursday, January 15th. Finally, Wolfe Research cut shares of Bank of America from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.30.

About Bank of America

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.