Bank of America Corporation $BAC Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 22.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 418,375 shares of the financial services provider’s stock after selling 122,150 shares during the period. Bank of America comprises approximately 1.7% of Edgar Lomax Co. VA’s holdings, making the stock its 25th largest holding. Edgar Lomax Co. VA’s holdings in Bank of America were worth $21,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steph & Co. boosted its stake in Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 379 shares during the last quarter. Collier Financial bought a new stake in shares of Bank of America in the 3rd quarter worth about $30,000. Marquette Asset Management LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at about $30,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Bank of America during the third quarter worth about $31,000. Finally, Wealth Preservation Advisors LLC lifted its position in shares of Bank of America by 48.7% during the second quarter. Wealth Preservation Advisors LLC now owns 681 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 223 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

Shares of NYSE BAC opened at $49.81 on Friday. 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 firm has a market capitalization of $357.47 billion, a PE ratio of 13.01, a P/E/G ratio of 1.23 and a beta of 1.28. Bank of America Corporation has a 1-year low of $33.06 and a 1-year high of $57.55. The business’s fifty day moving average price is $53.42 and its two-hundred day moving average price is $52.48.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (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 company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

BAC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. HSBC boosted their price target on Bank of America from $55.00 to $57.00 and gave the company a “hold” rating in a report on Friday, February 6th. Wells Fargo & Company raised their price objective on Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Oppenheimer lifted their price objective on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.30.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America Private Bank launched an Art Consulting service to help wealth clients treat art as an investable asset, which can deepen client relationships and boost advisory/relationship fee income. Read More.
• Positive Sentiment: BofA Securities acted as lead underwriter/advisor on SM Energy’s $1B senior notes offering, highlighting ongoing investment-banking deal flow that supports non‑interest fee revenue. Read More.
• Neutral Sentiment: Bank of America disclosed a stake crossing in Galapagos under transparency rules; this is a regulatory filing about holdings rather than a business development for BAC itself. Read More.
• Neutral Sentiment: VantageScore’s CEO will appear at BofA’s upcoming Information & Business Services conference — evidence BofA continues to host investor events that support its securities business but with limited direct impact on the bank’s fundamentals. Read More.
• Neutral Sentiment: Coverage and analyst activity mentioning BAC (Zacks trending piece) indicate retail/investor interest in the stock; attention can drive volume but is not a clear directional catalyst. Read More.
• Negative Sentiment: Analysis flagging that BAC’s recent share momentum is cooling raises near-term valuation pressure and may be a direct reason shares are trading lower today. Read More.
• Negative Sentiment: Bank of America warns broader market risk from the U.S.-Iran war (e.g., collapsed Strait of Hormuz volumes) could spark volatility and downside for banks via economic and oil‑price shocks. That macro risk is a headwind for financial stocks including BAC. Read More.

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.