Bank of America Corporation $BAC Shares Acquired by Andra AP fonden

Andra AP fonden grew its position in shares of Bank of America Corporation (NYSE:BAC) by 151.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 815,018 shares of the financial services provider’s stock after buying an additional 490,801 shares during the period. Andra AP fonden’s holdings in Bank of America were worth $39,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after acquiring an additional 25,143 shares during the period. Sivia Capital Partners LLC raised its holdings in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC boosted its position in Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Bank of America during the second quarter worth approximately $1,396,000. Finally, Vivaldi Capital Management LP grew its holdings in Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 355 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s analysts are still finding opportunities across financials and related sectors, with recent notes highlighting attractive valuations, net interest margin upside at regional banks, and other potential buying opportunities. That reinforces a constructive view on BAC and the broader bank group. Article: Citizens Financial Group: Buy Rating Backed by Attractive Valuation, Above-Peer Growth and Net Interest Margin Upside
• Positive Sentiment: Bank of America is also leaning into growth areas like AI and digital assets, promoting executives to lead its AI transformation and crypto efforts. Investors may see that as evidence the bank is investing for long-term efficiency and new revenue streams. Article: Bank of America Promotes Execs to Champion AI and Crypto
• Neutral Sentiment: Several headlines reflect broad market and macro themes, including inflation expectations, Fed policy debates, and bank earnings commentary. These are more relevant to sector sentiment than to a direct BAC-specific catalyst. Article: Bond Traders Take Warsh at Word, See Inflation Fight Continuing
• Neutral Sentiment: Bank of America’s own recent dividend declarations on preferred shares are routine capital-return updates and are unlikely to move the common stock meaningfully on their own. Article: Bank of America Corporation 5.375 DEP PFD KK declares $0.3359 dividend
• Negative Sentiment: Macro uncertainty around Fed policy and inflation could keep pressure on bank valuation multiples if rate-cut expectations fade or markets price in a more restrictive policy path. That is a risk for BAC even if its fundamentals remain solid. Article: Could Warsh Break a 56-Year Fed Rate-Hike Streak?

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. The Goldman Sachs Group boosted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Robert W. Baird upped their price objective on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Citigroup increased their price objective on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, HSBC boosted their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.77.

Bank of America Trading Down 1.4%

Shares of BAC opened at $60.41 on Tuesday. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.12. The stock has a market cap of $428.70 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The firm’s fifty day moving average is $55.50 and its two-hundred day moving average is $53.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Research analysts forecast that Bank of America Corporation will post 4.64 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a yield of 1.9%. Bank of America’s dividend payout ratio is presently 25.69%.

Insiders Place Their Bets

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Bank of America Company 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.