70,900 Bank of America Corporation $BAC Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Bank of America Corporation (NYSE:BAC) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 951,469 shares of the financial services provider’s stock after acquiring an additional 70,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Bank of America were worth $51,788,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BAC. Turim 21 Investimentos Ltda. purchased a new stake in Bank of America in the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC boosted its stake in Bank of America by 167.6% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Principia Wealth Advisory LLC grew its position in Bank of America by 69.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in Bank of America during the 2nd quarter worth $34,000. Finally, Balance Wealth Partners LLC purchased a new position in Bank of America during the 3rd quarter worth $33,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Trading Down 2.2%

Shares of Bank of America stock opened at $50.03 on Friday. The firm has a market cap of $349.85 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company’s 50-day simple moving average is $56.44 and its 200-day simple moving average is $54.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.17.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 EPS 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 analyst estimates of $30.58 billion. During the same quarter in the previous year, the business earned $1.06 EPS. Bank of America’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.52 earnings per share for the current year.

Bank of America Dividend Announcement

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

Analyst Ratings Changes

BAC has been the topic of a number of recent research reports. Evercore set a $62.00 price objective on shares of Bank of America in a research note on Thursday, October 1st. TD Cowen decreased their target price on shares of Bank of America from $60.00 to $56.00 and set a “hold” rating for the company in a research note on Thursday, October 15th. Wells Fargo & Company lowered their price target on Bank of America from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Argus set a $70.00 price target on Bank of America in a research report on Wednesday, July 15th. Finally, Barclays reduced their price objective on Bank of America from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $62.70.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s market commentary remains constructive on several growth initiatives. Analysts point to branch expansion and artificial-intelligence investments as potential drivers of deposit growth, stronger customer relationships and improved efficiency. Can BAC’s Branch Expansion & AI Push Drive Long-Term Growth?
• Positive Sentiment: Bank of America expanded its physical banking presence by opening new financial centers in Wisconsin, supporting its long-term strategy to deepen retail relationships and gather deposits. Bank of America expands in-person reach with new financial centers in Wisconsin
• Neutral Sentiment: Bank of America’s investment strategists highlighted technology-company bonds as potentially more attractive than tech stocks, reflecting a broader shift toward credit and quality assets. The view may benefit the bank’s investment-banking and fixed-income businesses, but it does not directly change BAC’s earnings outlook. Tech Bonds Are ‘Diamonds in the Rough’: Bank of America’s Hartnett Says
• Negative Sentiment: Senator Elizabeth Warren urged the Justice Department to investigate Bank of America and potentially its executives over alleged anti-money-laundering and sanctions violations. The pressure follows a reported $1.21 billion penalty and raises concerns about additional fines, remediation costs and reputational damage. Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violations
• Negative Sentiment: Multiple law firms promoted a securities-fraud class action covering investors who purchased BAC shares from August 1, 2025, through October 13, 2026. The repeated notices and December 15, 2026 lead-plaintiff deadline reinforce near-term litigation overhang, although the allegations have not been adjudicated. ROSEN securities class action notice
• Negative Sentiment: Bank of America was also sued over its use of mandatory arbitration in employee disputes, adding another legal and compliance concern for investors. Bank of America sued over mandatory arbitration for employee disputes

Bank of America 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.