Empirical Asset Management LLC Boosts Holdings in Bank of America Corporation $BAC

Empirical Asset Management LLC increased its holdings in shares of Bank of America Corporation (NYSE:BAC) by 149.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 49,399 shares of the financial services provider’s stock after purchasing an additional 29,635 shares during the period. Empirical Asset Management LLC’s holdings in Bank of America were worth $2,548,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC raised its stake in shares of Bank of America by 0.3% in the third quarter. Shepherd Financial Partners LLC now owns 60,279 shares of the financial services provider’s stock valued at $3,110,000 after acquiring an additional 189 shares in the last quarter. William B. Walkup & Associates Inc. grew its stake in Bank of America by 1.4% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 14,020 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 192 shares in the last quarter. Albion Financial Group UT increased its holdings in Bank of America by 1.6% during the 3rd quarter. Albion Financial Group UT now owns 13,031 shares of the financial services provider’s stock worth $672,000 after purchasing an additional 205 shares during the period. Motive Wealth Advisors raised its position in Bank of America by 3.6% in the 3rd quarter. Motive Wealth Advisors now owns 5,910 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 205 shares in the last quarter. Finally, Howard Financial Services LTD. raised its position in Bank of America by 2.5% in the 3rd quarter. Howard Financial Services LTD. now owns 8,508 shares of the financial services provider’s stock valued at $439,000 after purchasing an additional 205 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. CICC Research initiated coverage on shares of Bank of America in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $62.00 price target for the company. Barclays increased their price objective on shares of Bank of America from $59.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Argus raised their price objective on shares of Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Wolfe Research downgraded shares of Bank of America from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Twenty-two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America is committing roughly $25 billion to expand its private‑credit platform — a strategic deployment that could lift fee income and help monetize the bank’s balance sheet if executed well. Bank Of America Expands Private Credit And Premium Services As Valuation Lags
• Positive Sentiment: Merrill is launching a special trading desk and BofA is expanding premium wealth services (including art‑consulting for HNW clients), moves that could deepen client relationships and increase non‑interest income. Merrill Launches Special Trading Desk for Wealthiest Clients
• Neutral Sentiment: Despite recent underperformance vs. the S&P 500, many Wall Street analysts remain constructive on BAC, leaving room for positive analyst‑driven re‑rating if macro pressures ease. Is Bank of America Stock Underperforming the S&P 500?
• Negative Sentiment: Broader bank‑sector weakness from private‑credit market stress has pressured BAC; the market reacted after Blue Owl said it would sell roughly $1.4B of loans to meet redemptions, stoking liquidity and contagion fears across credit funds. Bank Of America Stock Edges Lower As Private Credit Turmoil, Tariff Jitters Weigh On Financials
• Negative Sentiment: Tariff‑related policy uncertainty and slowing economic indicators have put additional pressure on big banks, prompting investor rotation out of financials and contributing to BAC’s decline. Stock Market Today, Feb. 24: Bank of America Slips as Economic Uncertainty Pressures Big Banks

Bank of America Price Performance

Shares of NYSE:BAC opened at $50.43 on Wednesday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The firm has a market capitalization of $368.29 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.25 and a beta of 1.29. 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 company’s fifty day moving average price is $54.12 and its 200 day moving average price is $52.39.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $27.73 billion. During the same quarter last year, the company posted $0.82 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.12 annualized dividend and a yield of 2.2%. Bank of America’s payout ratio is 29.24%.

About Bank of America

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.