Bank of America Corporation $BAC Stake Lifted by Fagan Associates Inc.

by · The Cerbat Gem

Fagan Associates Inc. increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 20.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,461 shares of the financial services provider’s stock after purchasing an additional 42,957 shares during the quarter. Bank of America accounts for 1.6% of Fagan Associates Inc.’s portfolio, making the stock its 17th biggest holding. Fagan Associates Inc.’s holdings in Bank of America were worth $13,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lineweaver Wealth Advisors LLC lifted its position in Bank of America by 17.6% during the third quarter. Lineweaver Wealth Advisors LLC now owns 72,020 shares of the financial services provider’s stock valued at $3,920,000 after purchasing an additional 10,777 shares during the period. Davis Rea LTD. boosted its holdings in Bank of America by 27.2% in the third quarter. Davis Rea LTD. now owns 315,849 shares of the financial services provider’s stock worth $17,192,000 after purchasing an additional 67,478 shares during the last quarter. First Financial Corp IN boosted its holdings in Bank of America by 38.9% in the third quarter. First Financial Corp IN now owns 14,703 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 4,121 shares during the last quarter. Accel Wealth Management grew its position in Bank of America by 6.4% in the 3rd quarter. Accel Wealth Management now owns 19,563 shares of the financial services provider’s stock worth $1,065,000 after purchasing an additional 1,172 shares during the period. Finally, Catalyst Private Wealth LLC bought a new stake in Bank of America in the 3rd quarter worth approximately $425,000. 70.71% of the stock is owned by institutional investors.

Trending Headlines about 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

Bank of America Stock Performance

BAC traded down $0.53 during trading on Tuesday, hitting $54.05. The company’s stock had a trading volume of 44,924,449 shares, compared to its average volume of 37,191,953. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The firm has a market cap of $377.93 billion, a PE ratio of 12.40, a P/E/G ratio of 0.87 and a beta of 1.21. The business’s 50 day simple moving average is $59.75 and its 200-day simple moving average is $56.67.

Bank of America (NYSE:BAC – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Corporation will post 4.61 EPS for the current fiscal year.

Bank of America Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BAC shares. Morgan Stanley reiterated an “overweight” rating on shares of Bank of America in a research note on Tuesday, September 15th. Jefferies Financial Group dropped their price target on Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. TD Cowen assumed coverage on Bank of America in a research note on Thursday, October 8th. They issued a “hold” rating and a $60.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Finally, Barclays upped their price objective on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Nineteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.22.

Get Our Latest Stock Report on Bank of America

About Bank of America

(Free Report)

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.

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