Cardinal Point Capital Management ULC Increases Stock Holdings in Bank of America Corporation $BAC

Cardinal Point Capital Management ULC increased its stake in Bank of America Corporation (NYSE:BAC) by 50.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 38,156 shares of the financial services provider’s stock after acquiring an additional 12,871 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Bank of America were worth $1,921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waterfront Wealth Inc. increased its stake in shares of Bank of America by 1.3% during the third quarter. Waterfront Wealth Inc. now owns 18,719 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 242 shares in the last quarter. Slagle Financial LLC boosted its holdings in Bank of America by 1.7% in the 3rd quarter. Slagle Financial LLC now owns 73,638 shares of the financial services provider’s stock worth $3,799,000 after buying an additional 1,259 shares during the last quarter. Lantz Financial LLC increased its stake in Bank of America by 23.3% during the 3rd quarter. Lantz Financial LLC now owns 18,730 shares of the financial services provider’s stock worth $966,000 after buying an additional 3,536 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Bank of America during the third quarter valued at approximately $482,000. Finally, German American Bancorp Inc. lifted its position in shares of Bank of America by 3.0% in the third quarter. German American Bancorp Inc. now owns 256,188 shares of the financial services provider’s stock valued at $13,217,000 after acquiring an additional 7,529 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Bank of America News

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

• Positive Sentiment: Wall Street peers and BAC are boosting bonus pools by at least 10%, a market signal that investment‑banking and markets revenue was strong in 2025 — this supports investor confidence in BAC’s profitability and retention. JPMorgan, Goldman, Bank of America Boost Bonus Pools by at Least 10%
• Positive Sentiment: Reports that BofA plans to revamp credit‑card offerings and is leveraging AI to boost consumer profit have investors expecting higher card revenue and improved margins over time. Product revamps + steady dividends are a clear near‑term positive for bank earnings outlook. Bank of America to revamp credit cards to fuel consumer profit – report
• Positive Sentiment: HSBC nudged its BAC price target up to $57 from $55 (hold), a modest analyst backing that removes some near‑term downside uncertainty. HSBC adjusts price target on Bank of America to $57 from $55; maintains hold rating
• Neutral Sentiment: BofA announced full redemption of its Series DD preferred stock — a corporate capital action that simplifies the capital structure; impact depends on how the redemption is funded and future capital allocation. Bank of America Announces Full Redemption of Its Series DD Preferred Stock and Related Depositary Shares
• Neutral Sentiment: Strategist Michael Hartnett’s “Main Street over Davos” theme and calls to favor midcaps reflect positioning advice from BofA Research; useful for market positioning but not an immediate earnings catalyst for BAC itself. ‘Stay Long Detroit, Short Davos’: Why BofA’s Hartnett Sees A Main Street Boom Ahead Of The Midterms
• Negative Sentiment: BofA Institute flagged that middle‑class wage growth is stalling — a potential headwind for consumer spending, card volumes and loan performance if the trend persists. Bank of America Warns Middle Class Wages Are Stalling
• Negative Sentiment: BofA’s market strategist also warns that a two‑decade high in its “bull and bear” indicator could signal a market peak — an elevated macro risk that could pressure bank shares if broader risk appetite falls. Two‑decade high for Bank of America’s ‘bull and bear’ indicator points to stock‑market peak, strategist says

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Bank of America from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. JPMorgan Chase & Co. increased 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 report on Tuesday, January 6th. TD Cowen lowered their price target on shares of Bank of America from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Truist Financial cut their price objective on shares of Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Finally, Ameriprise Financial raised shares of Bank of America to a “buy” rating in a research note on Wednesday, October 22nd. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

Bank of America Stock Performance

Bank of America stock opened at $56.54 on Monday. The firm has a 50 day simple moving average of $54.38 and a 200-day simple moving average of $51.86. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $412.88 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.

Bank of America (NYSE:BAC) last released its quarterly earnings results 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 net margin of 16.23% and a return on equity of 11.07%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is 29.24%.

Bank of America 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.