Bank of America Corporation $BAC Stock Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lowered its stake in Bank of America Corporation (NYSE:BAC) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,027,747 shares of the financial services provider’s stock after selling 10,719 shares during the period. Bank of America makes up about 1.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 28th largest holding. Miller Howard Investments Inc. NY’s holdings in Bank of America were worth $55,940,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Total Clarity Wealth Management Inc. grew its holdings in shares of 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 worth $279,000 after acquiring an additional 168 shares during the last quarter. Orca Wealth Management LLC raised its position in shares of Bank of America by 0.5% during the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 179 shares during the period. Financial Consulate Inc. raised its position in shares of Bank of America by 4.0% during the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 181 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in shares of Bank of America by 1.1% during the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 184 shares during the last quarter. Finally, GatePass Capital LLC lifted its holdings 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 purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America joined Blackstone, Citi and Morgan Stanley in a $63 billion financing structure to help Anthropic deploy AI computing capacity using Broadcom technology, with deliveries expected to begin in 2027. The deal highlights BAC’s role in financing the AI infrastructure boom and could generate fees and lending opportunities, although the bank’s precise economic share was not disclosed. Bank of America, Blackstone, Citi and Morgan Stanley Announce Landmark $63 Billion Financing Structure
• Positive Sentiment: Bank of America’s research activity also points to continued investment-banking and capital-markets engagement: the bank said African corporate bond issuance reached $13.3 billion, the fastest pace in five years. Greater issuance activity can benefit banks through underwriting and advisory fees. African corporate bond sales hit $13.3 billion

Bank of America Trading Down 0.1%

Shares of NYSE BAC opened at $50.51 on Tuesday. The firm has a market capitalization of $353.20 billion, a PE ratio of 12.00, a PEG ratio of 0.88 and a beta of 1.21. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $57.73 and a two-hundred day moving average price of $55.10.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.02). The company 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 12.15% and a net margin of 16.80%. Bank of America’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. As a group, analysts predict that Bank of America Corporation will post 4.52 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be given a $0.32 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. Bank of America’s dividend payout ratio is presently 30.40%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAC. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a research report on Tuesday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Monday, October 19th. Argus set a $70.00 price objective on shares of Bank of America in a research note on Wednesday, July 15th. Phillip Securities raised shares of Bank of America to a “strong-buy” rating in a research report on Friday, October 16th. Finally, Royal Bank Of Canada cut their price target on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.82.

Bank of America Company Profile

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.