Biltmore Family Office LLC Has $7.19 Million Position in Bank of America Corporation $BAC

Biltmore Family Office LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 250.7% in the third quarter, HoldingsChannel.com reports. The fund owned 139,403 shares of the financial services provider’s stock after acquiring an additional 99,655 shares during the period. Bank of America makes up 1.0% of Biltmore Family Office LLC’s investment portfolio, making the stock its 15th largest position. Biltmore Family Office LLC’s holdings in Bank of America were worth $7,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BAC. Quaker Wealth Management LLC increased its stake in Bank of America by 246.5% in the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 880 shares in the last quarter. RMG Wealth Management LLC bought a new position in shares of Bank of America during the second quarter worth $28,000. Steph & Co. grew its holdings in shares of Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after buying an additional 379 shares during the period. CGC Financial Services LLC increased its position in shares of Bank of America by 585.4% in the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after buying an additional 521 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at $30,000. Institutional investors own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Morgan Stanley and other bullish takes following BAC’s solid Q4 results reinforce earnings momentum and analyst support; this underpins investor confidence in BAC’s core earnings and capital outlook. Morgan Stanley remains bullish on Bank of America (BAC) following strong Q4 results
• Positive Sentiment: Broad earnings‑season commentary (Zacks and others) showing rising estimates and a favorable Q4 backdrop supports BAC’s forward EPS outlook and valuation multiples. Earnings Estimates Keep Increasing: A Closer Look
• Positive Sentiment: BofA’s $1B “sharing success”/employee‑owner initiative is getting coverage; such programs can help retention and align employee incentives, modestly supportive for execution and cost control over time. Did BAC’s US$1 Billion Sharing Success Plan Just Recast Bank of America’s Employee-Owner Model?
• Neutral Sentiment: BofA research/commentary (MarketWatch piece) promoting international stocks, EM and gold versus bonds highlights the firm’s market views but is unlikely to move BAC shares materially. Now is not the time to own bonds, says Bank of America. These are safer bets.
• Neutral Sentiment: BofA analysts remain active in coverage (example: upgrade of Oklo shows BofA’s analyst influence) — helpful for reputation but indirect for the stock. Oklo Stock Rises as Meta Deal Triggers Bank of America Upgrade
• Negative Sentiment: Multiple reports say BofA is considering offering credit cards at a proposed 10% cap (and CEO Moynihan warned a cap would curb spending). The story raises regulatory and margin‑pressure concerns for card balances and interest income — a key driver for bank profitability. Bank of America, Citi consider new credit cards with 10% rate – report
• Negative Sentiment: Additional coverage (Bloomberg/PYMNTS/NYPost/Blockonomi) on the 10% card idea and Moynihan’s comments increases the chance investors re‑price BAC to reflect regulatory risk to card yields and consumer‑credit availability. Bank of America and Citi Consider Offering Credit Cards With 10% Interest Rate

Bank of America Stock Down 1.3%

NYSE:BAC opened at $51.75 on Friday. The stock has a 50-day simple moving average of $54.06 and a 200 day simple moving average of $51.36. Bank of America Corporation has a 52-week low of $33.06 and a 52-week high of $57.55. The company has a market cap of $377.87 billion, a PE ratio of 13.51, a PEG ratio of 1.26 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BAC shares. UBS Group lifted their target price on Bank of America from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Wells Fargo & Company raised their price target on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Piper Sandler lifted their price objective on Bank of America from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Argus boosted their price objective on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Barclays raised their target price on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $59.74.

Bank of America Company Profile

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.