Cumberland Partners Ltd Cuts Position in Bank of America Corporation $BAC

Cumberland Partners Ltd trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC) by 34.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 55,735 shares of the financial services provider’s stock after selling 28,700 shares during the period. Cumberland Partners Ltd’s holdings in Bank of America were worth $2,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Brighton Jones LLC raised its stake in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Bank of America by 0.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 990,527 shares of the financial services provider’s stock worth $46,872,000 after buying an additional 6,590 shares in the last quarter. Blume Capital Management Inc. raised its position in Bank of America by 2.1% in the 2nd quarter. Blume Capital Management Inc. now owns 252,379 shares of the financial services provider’s stock worth $11,943,000 after buying an additional 5,230 shares during the last quarter. Finally, Retirement Planning Group LLC lifted its stake in Bank of America by 48.1% during the 2nd quarter. Retirement Planning Group LLC now owns 10,890 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 3,535 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.2%

Bank of America stock opened at $53.39 on Thursday. Bank of America Corporation has a 12-month low of $33.06 and a 12-month high of $57.55. The firm has a market capitalization of $389.84 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.29 and a beta of 1.29. The firm has a 50 day moving average of $54.37 and a 200 day moving average of $52.17. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 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 business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $27.73 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. As a group, research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAC. JPMorgan Chase & Co. boosted their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Evercore set a $59.00 target price on Bank of America in a report on Thursday, January 15th. Barclays boosted their price target on Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. TD Cowen lowered their price objective on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Finally, CICC Research assumed coverage on shares of Bank of America in a report on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price objective on the stock. Twenty-two 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 currently has an average rating of “Moderate Buy” and an average target price of $60.30.

Bank of America News Roundup

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

• Positive Sentiment: BofA announced a new, no‑fee BofA Rewards program that expands eligibility to more than 30 million clients and launches May 27 — a move that can boost card spend, deposits and cross‑sell opportunities across consumer and Merrill relationships. New BofA Rewards Program to Reach Millions More Clients with Expanded Benefits
• Positive Sentiment: Bank of America Private Bank launched an art consulting service for wealthy clients — a niche, fee‑based offering that can deepen relationships, support higher‑margin lending (art as collateral) and grow AUM in the private bank/Merrill channels. Bank of America Launches Art Consulting Service
• Positive Sentiment: Analyst and retail coverage notes BofA’s dividend profile and valuation (coverage such as Zacks) — supporting the narrative that BAC is an income/value play for investors focused on yield and steady earnings. Bank of America (BAC) Could Be a Great Choice
• Neutral Sentiment: BofA research has been prominent in industry commentary on AI — its surveys say fund managers see an AI spending “bubble” and that AI will separate winners and losers among banks; this flags both upside from successful AI deployment and execution risk if BofA or peers misstep. AI Spending Bubble Fear Just Hit An All-Time High, BofA Survey Shows
• Neutral Sentiment: Options/quant pieces are highlighting mean‑reversion trades on BAC — these note the stock’s technical setup more than fundamentals, which can amplify intraday moves but don’t change the long‑term thesis. Bank of America Stock (BAC) Offers Mean-Reversion Options Trade
• Neutral Sentiment: Reports on executive pay rising after earnings growth (CEO compensation coverage) are drawing governance attention but are unlikely to materially change earnings outlook. Bank of America CEO Brian Moynihan sees compensation rise following earnings growth
• Negative Sentiment: Berkshire Hathaway (Warren Buffett) trimmed its Bank of America stake, and coverage reported a sizable reduction of BofA holdings — big shareholder selling can weigh on sentiment and add supply pressure to the stock. Berkshire Pares Stakes in Apple and BofA, Adds New York Times Position Warren Buffett Sold 29% of Bank of America and Bought This Consumer Stock for 4 Consecutive Quarters
• Negative Sentiment: Coverage that BofA dramatically increased a stake in a struggling crypto company (reported as a 1,668% increase) raises questions about risk exposure and could spook some investors focused on conservative capital deployment. Bank of America hikes stake in sinking crypto stock by 1,668%

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.