Spectrum Financial Alliance Ltd LLC Has $74.11 Million Stake in Bank of America Corporation $BAC

Spectrum Financial Alliance Ltd LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 7.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,300,644 shares of the financial services provider’s stock after buying an additional 93,892 shares during the period. Bank of America comprises approximately 10.9% of Spectrum Financial Alliance Ltd LLC’s holdings, making the stock its 3rd biggest position. Spectrum Financial Alliance Ltd LLC’s holdings in Bank of America were worth $74,111,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter valued at approximately $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America in the fourth quarter worth approximately $30,000. Joseph Group Capital Management purchased a new stake in shares of Bank of America in the fourth quarter worth $32,000. Finally, HFM Investment Advisors LLC increased its stake in shares of Bank of America by 566.0% in the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 532 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.6%

BAC stock opened at $64.45 on Friday. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.20. The stock has a market capitalization of $450.72 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm’s fifty day simple moving average is $59.77 and its two-hundred day simple moving average is $54.30.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the business earned $0.89 EPS. As a group, analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.0%. Bank of America’s payout ratio is 25.69%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
• Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
• Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
• Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BAC shares. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. UBS Group increased their price target on Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their price target on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. Finally, Citigroup upped their price objective on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

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.