Bank of America Corporation $BAC Stock Purchased by Lineweaver Wealth Advisors LLC

Lineweaver Wealth Advisors LLC raised its position in shares of Bank of America Corporation (NYSE:BAC) by 17.6% in the third quarter, Holdings Channel reports. The firm owned 72,020 shares of the financial services provider’s stock after acquiring an additional 10,777 shares during the quarter. Lineweaver Wealth Advisors LLC’s holdings in Bank of America were worth $3,920,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Bank of America in the 2nd quarter worth about $2,571,060,000. Deutsche Bank AG purchased a new stake in shares of Bank of America during the 2nd quarter valued at about $2,359,172,000. Bank of New York Mellon Corp purchased a new stake in shares of Bank of America during the 2nd quarter valued at about $2,313,953,000. Amundi grew its stake in shares of Bank of America by 12.5% in the first quarter. Amundi now owns 42,385,115 shares of the financial services provider’s stock worth $2,066,274,000 after acquiring an additional 4,721,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Bank of America by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 31,135,112 shares of the financial services provider’s stock valued at $1,517,599,000 after purchasing an additional 561,413 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: BAC is scheduled to report third-quarter earnings before the market opens on October 14. Ahead of the report, the options market had indicated expectations for a relatively limited reaction, while analysts were focused on net interest income, lending trends and funding costs. Bank of America Earnings Preview: Options Market Signals a Muted Reaction
• Neutral Sentiment: Bank of America’s October investor survey found the highest technology-stock overweight since 2020, reflecting strong risk appetite but also potential vulnerability if the AI-led market rally reverses. The survey is strategically relevant to BAC’s research franchise but has limited direct impact on its earnings. BofA Poll Shows Investors Most Exposed to Tech Stocks Since 2020
• Neutral Sentiment: BAC is expanding lifestyle benefits for cardholders through access to New York City Wine & Food Festival events. The initiative may support customer engagement and card spending, but it is unlikely to materially affect near-term results. Bank of America Clients to Enjoy Premium Dining and Lifestyle Experiences
• Negative Sentiment: U.S. regulators said Bank of America failed to timely report more than $5 billion in suspicious transactions and admitted willful Bank Secrecy Act violations. The $1.21 billion package includes a record $750 million penalty from the Office of the Comptroller of the Currency, plus an $11.6 million sanctions settlement involving countries including Russia and Iran. BAC expects a roughly $1.2 billion, non-tax-deductible third-quarter charge, reducing earnings by about $0.17 per share. The action also highlights that the bank failed to resolve deficiencies identified in a 2024 cease-and-desist order. Bank of America hit with more than $1.2 billion in penalties
• Negative Sentiment: Erste Group lowered its Bank of America EPS forecasts to $4.55 for fiscal 2026 and $5.22 for fiscal 2027, adding to concerns about earnings momentum ahead of the quarterly report. Bank of America analyst estimates

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BAC shares. Morgan Stanley restated an “overweight” rating on shares of Bank of America in a research report on Tuesday, September 15th. Robert W. Baird lifted their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. UBS Group cut their target price on shares of Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Wells Fargo & Company boosted their target price on shares of Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Evercore set a $62.00 price target on Bank of America in a report on Thursday, October 1st. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Bank of America Stock Performance

NYSE BAC traded down $0.53 on Tuesday, hitting $54.05. 44,924,449 shares of the company traded hands, compared to its average volume of 37,191,953. The company has a market capitalization of $377.93 billion, a price-to-earnings ratio of 12.40, a P/E/G 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 business’s 50 day moving average price is $59.75 and its 200-day moving average price is $56.67. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22.

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 the consensus estimate of $1.13 by $0.08. The business had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%. Bank of America’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities analysts expect that Bank of America Corporation will post 4.61 earnings per share for the current year.

Bank of America Increases Dividend

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

About Bank of America

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.