Bank of America Corporation $BAC Shares Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its holdings in shares of Bank of America Corporation (NYSE:BAC) by 296.5% during the third quarter, Holdings Channel reports. The fund owned 19,641 shares of the financial services provider’s stock after buying an additional 14,688 shares during the period. Provenance Wealth Advisors LLC’s holdings in Bank of America were worth $1,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bamco Inc. NY raised its holdings in Bank of America by 45.4% during the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider’s stock valued at $2,336,000 after buying an additional 12,794 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Bank of America during the 2nd quarter valued at $4,089,000. Bernicke Wealth Management Ltd. purchased a new stake in Bank of America during the 2nd quarter valued at $2,132,000. Aspiriant LLC grew its holdings in Bank of America by 34.3% in the 3rd quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 12,479 shares during the last quarter. Finally, Lakeshore Capital Group Inc. grew its holdings in Bank of America by 111.8% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 33,642 shares of the financial services provider’s stock worth $1,831,000 after acquiring an additional 17,759 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BAC. Royal Bank Of Canada decreased their price objective on shares of Bank of America from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Evercore set a $62.00 target price on shares of Bank of America in a report on Thursday, October 1st. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $62.00 to $59.50 and set an “overweight” rating for the company in a report on Friday, October 30th. Citigroup cut their target price on Bank of America from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Finally, Morgan Stanley reduced their price target on Bank of America from $67.00 to $61.00 and set an “overweight” 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 assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.48.

Bank of America News Summary

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

• Negative Sentiment: Senator Elizabeth Warren is reportedly urging the Justice Department to investigate Bank of America and its executives after the bank admitted willfully violating anti-money-laundering laws. A criminal probe could add legal, regulatory, and reputational risk beyond the enforcement resolution already reached. Article: BAC Subject to Increasing Scrutiny
• Negative Sentiment: A securities class action has been filed on behalf of investors who bought BAC shares between August 1, 2025, and October 13, 2026. The allegations remain unproven, but the case adds potential litigation costs and uncertainty; the lead-plaintiff deadline is December 15, 2026. Multiple law-firm notices relate to this same lawsuit. Article: Kaplan Fox class-action notice
• Negative Sentiment: A report cited a pessimistic UBS forecast for BAC, while another reported that the shares fell following an analyst downgrade. The supplied coverage does not provide the revised price target or rationale, but the downgrade may weigh on investor sentiment. Article: UBS Group Issues Pessimistic Forecast

Bank of America Stock Performance

NYSE:BAC opened at $51.61 on Thursday. The stock has a market cap of $356.14 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. The firm’s fifty day simple moving average is $55.72 and its 200 day simple moving average is $54.92. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. 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 issued its quarterly earnings data 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). Bank of America had a net margin of 16.80% and a return on equity of 12.15%. The company had revenue of $29.96 billion for the quarter, compared to analysts’ expectations of $30.58 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Bank of America’s payout ratio is presently 30.40%.

About Bank of America

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.