Bank of America Corporation $BAC Shares Purchased by Sapient Capital LLC

Sapient Capital LLC lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,138,705 shares of the financial services provider’s stock after purchasing an additional 24,533 shares during the period. Bank of America accounts for 0.9% of Sapient Capital LLC’s holdings, making the stock its 17th biggest holding. Sapient Capital LLC’s holdings in Bank of America were worth $61,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Turim 21 Investimentos Ltda. bought a new stake in shares of Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC bought a new stake in Bank of America in the fourth quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC increased its position 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 valued at $27,000 after purchasing an additional 300 shares during the period. Principia Wealth Advisory LLC lifted its holdings in Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider’s stock valued at $30,000 after buying an additional 218 shares during the period. Finally, Frazier Financial Advisors LLC bought a new stake in Bank of America during the second quarter valued at $34,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: TD Cowen initiated coverage of BAC with a “hold” rating and a $60 price target, implying approximately 12% upside from the referenced share price. While the rating is neutral, the target suggests the stock’s recent weakness may have created valuation support. TD Cowen Bank of America coverage
• Positive Sentiment: A recent analyst upgrade argues that a Federal Reserve policy shift could improve Bank of America’s net interest income, potentially providing earnings upside if funding costs and rate expectations become more favorable. Bank of America Fed policy analysis
• Positive Sentiment: Bank of America continues to promote artificial-intelligence initiatives designed to improve and personalize customer service. Successful deployment could support long-term efficiency and client retention, although the near-term financial benefit is uncertain. Bank of America AI customer experience
• Neutral Sentiment: Investors are focused on October 14 earnings, with coverage warning that EPS growth could slow from roughly 36% to single digits. The report will need to demonstrate solid revenue growth, resilient net interest income, and controlled expenses to justify the valuation. Bank of America EPS growth expectations
• Neutral Sentiment: Bank of America reported changes in holdings of several outside companies, including reducing its Lakefront Biotherapeutics position below 10% and increasing its stake in ICU Venture Capital Trust to 3.6%. These appear to be portfolio or client-related transactions rather than material changes to BAC’s core business.
• Negative Sentiment: Bank of America agreed to a $39 million settlement related to Merrill’s cash-sweep program. The payment is not large relative to the bank’s scale, but it adds a legal and compliance cost and may renew investor scrutiny of Merrill’s practices. Bank of America Merrill cash sweep settlement

Wall Street Analysts Forecast Growth

BAC has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. TD Cowen began coverage on Bank of America in a report on Thursday. They issued a “hold” rating and a $60.00 price target on the stock. Argus set a $70.00 price objective on Bank of America in a research note on Wednesday, July 15th. Finally, Robert W. Baird upped their target price on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average target price of $64.22.

Bank of America Stock Down 0.0%

NYSE BAC traded down $0.01 during trading hours on Thursday, hitting $53.51. The company’s stock had a trading volume of 59,761,941 shares, compared to its average volume of 37,263,816. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a market capitalization of $374.15 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company’s 50-day simple moving average is $60.25 and its two-hundred day simple moving average is $56.54.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. Research analysts anticipate that Bank of America Corporation will post 4.61 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.4%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, September 4th. Bank of America’s dividend payout ratio is currently 29.36%.

Bank of America Profile

Bank of America Corporation (NYSE:BAC) is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.