IMS Investment Management Services Ltd. reduced its position in Bank of America by 48.7% during the third quarter, selling 25,965 shares and ending the period with 27,317 shares valued at approximately $1.41 million. In contrast, Brighton Jones LLC boosted its stake by 30.0%, adding 25,143 shares to reach 108,872 shares, while First Financial Bankshares Inc. increased its holding by 14.7%, acquiring 213,731 shares to total 1,663,914 shares. Notably, Maverick Capital Ltd. initiated a new stake valued at roughly $152.1 million, underscoring divergent institutional views on near-term upside potential and positioning ahead of year-end portfolio reviews. Institutional and hedge fund ownership now stands at 70.71% of outstanding shares, highlighting the importance of monitoring large investors’ reallocations for BAC’s stock direction.

In the third quarter, Bank of America delivered $1.06 in earnings per share, outpacing consensus by $0.13, driven by a 10.8% year-over-year revenue growth to $27.05 billion across its four business segments. The firm reported a net margin of 15.7% and returned 10.8% on equity, reflecting disciplined expense management and expanding loan yields. On the capital return front, BAC declared a quarterly dividend of $0.28 per share, marking an annualized payout of $1.12 and a payout ratio near 30.5%. This dividend was paid to holders of record on December 5th, reinforcing the bank’s commitment to returning excess capital even as it invests in digital platform upgrades and branch network efficiency.

Bank of America’s chief economist, Aditya Bhave, projects U.S. GDP growth of 2.1% for 2026, citing moderating inflation pressures and easing trade tensions that could bolster corporate loan demand. Fast Money traders on CNBC noted that margin expansion opportunities remain intact as interest rate volatility stabilizes. Eleven analysts have raised their targets following management meetings, with eight maintaining an outperform rating based on expected net interest income improvements. However, some caution that BAC’s valuation already factors in robust execution, leaving limited upside unless the bank exceeds delivery on expense control and fee income growth in its wealth management arm.