Bank of America Corporation $BAC Shares Purchased by Viking Fund Management LLC

by · The Markets Daily

Viking Fund Management LLC grew its position in Bank of America Corporation (NYSE:BAC) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275,000 shares of the financial services provider’s stock after buying an additional 15,000 shares during the quarter. Bank of America accounts for about 1.2% of Viking Fund Management LLC’s portfolio, making the stock its 24th largest holding. Viking Fund Management LLC’s holdings in Bank of America were worth $14,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. HBW Advisory Services LLC increased its stake in shares of Bank of America by 98.1% in the 3rd quarter. HBW Advisory Services LLC now owns 18,664 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 9,241 shares during the last quarter. KG Capital Management raised its holdings in shares of Bank of America by 14.3% during the 3rd quarter. KG Capital Management now owns 13,016 shares of the financial services provider’s stock worth $708,000 after buying an additional 1,631 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Bank of America by 6.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 6,093,838 shares of the financial services provider’s stock worth $331,688,000 after buying an additional 345,664 shares during the last quarter. B.A. Schrock Wealth Management Inc. bought a new stake in shares of Bank of America during the 3rd quarter worth $1,389,000. Finally, Nolet Wealth Management LLC boosted its stake in Bank of America by 13.3% in the third quarter. Nolet Wealth Management LLC now owns 9,420 shares of the financial services provider’s stock valued at $513,000 after buying an additional 1,103 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

More Bank of America News

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

  • Positive Sentiment: Underlying banking trends were solid: net interest income rose 8% year over year to $16.4 billion, average loans increased 6% to $1.23 trillion, and deposits grew 2% to $2.02 trillion. Global wealth and investment management revenue also increased 13%. Bank of America Reports Third Quarter 2026 Financial Results
  • Positive Sentiment: Bank of America returned $8.3 billion to shareholders during the quarter through $2.2 billion of dividends and $6.0 billion of share repurchases, which may support the stock’s valuation after the selloff. Bank of America Reports $6.9 Billion Third-Quarter Net Income
  • Neutral Sentiment: CEO Brian Moynihan said the company has accountability for the compliance failures and expects remediation costs to decline over time. BAC also hired roughly 1,000 contractors to address software vulnerabilities identified by Anthropic’s Mythos AI model, adding to near-term expenses but potentially reducing operational risk. Bank of America hired 1,000 contractors to patch software flaws
  • Negative Sentiment: U.S. regulators imposed more than $1.2 billion in penalties over anti-money-laundering and sanctions-control failures, including a failure to timely report more than $5 billion in suspicious transactions. The non-tax-deductible charge reduced quarterly earnings by approximately $0.17 per share and raises concerns about ongoing compliance costs. Bank of America profit hurt by $1.2 billion fine
  • Negative Sentiment: Adjusted EPS was $1.08 versus the $1.10 consensus, while revenue of roughly $30.0 billion missed estimates near $30.6 billion. Reported net income fell 17% year over year to $6.9 billion, and weaker investment-banking and trading revenue, higher expenses, and a $1.3 billion provision for credit losses compounded the disappointment. BAC Q3 Earnings Miss
  • Negative Sentiment: Several law firms announced shareholder investigations following the regulatory disclosures, creating an additional headline and potential litigation risk, although no claims have been established. Securities Fraud Investigation Into Bank of America

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Bank of America from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Morgan Stanley reissued an “overweight” rating on shares of Bank of America in a research note on Tuesday, September 15th. Royal Bank Of Canada reissued an “outperform” rating on shares of Bank of America in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. Finally, HSBC assumed coverage on shares of Bank of America in a report on Monday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Get Our Latest Stock Report on BAC

Bank of America Stock Down 4.7%

Shares of NYSE:BAC opened at $51.40 on Thursday. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a market capitalization of $359.45 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a fifty day moving average of $59.51 and a 200-day moving average of $56.69.

Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm had revenue of $29.96 billion for the quarter, compared to analyst estimates of $30.58 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. On average, equities analysts predict that Bank of America Corporation will post 4.60 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were given a $0.32 dividend. This is a boost from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, September 4th. Bank of America’s dividend payout ratio is 29.36%.

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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