Legacy Advisors LLC Purchases 10,385 Shares of Bank of America Corporation $BAC

Legacy Advisors LLC increased its position in Bank of America Corporation (NYSE:BAC) by 29.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 45,115 shares of the financial services provider’s stock after purchasing an additional 10,385 shares during the period. Legacy Advisors LLC’s holdings in Bank of America were worth $2,571,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BAC. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of 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 acquiring an additional 6,174 shares in the last quarter. Jump Financial LLC lifted its position in Bank of America by 38.4% during the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after acquiring an additional 18,227 shares during the period. Nebula Research & Development LLC purchased a new position in Bank of America during the 2nd quarter valued at about $1,396,000. Finally, Vivaldi Capital Management LP boosted its stake in Bank of America by 4.2% during the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America is investing $1.9 billion for as much as a 49.9% stake in Jio Credit, expanding its presence in India’s growing financial-services market. The partnership could provide long-term growth and diversification, although returns will depend on execution and regulatory conditions. Will Bank of America Benefit From the Jio Credit Partnership in India?
• Positive Sentiment: BofA’s analysts remain highly constructive on Micron, citing structurally stronger memory demand, potential earnings growth and substantial free cash flow from AI infrastructure. Stronger capital-markets and advisory activity around AI-related companies could indirectly benefit BAC, though the primary gains accrue to Micron investors. Bank of America Sees 50% Upside in Micron Stock
• Neutral Sentiment: BofA also sees substantial potential margin improvement for AI-cloud providers CoreWeave and Nebius, and has endorsed long positions in gold amid a weaker dollar and changing Federal Reserve expectations. These views highlight areas of client and markets activity but have no clear immediate effect on BAC’s profits. A Major Catalyst Could Boost CoreWeave and Nebius Margins by Up to 1,000 Basis Points
• Neutral Sentiment: Bank of America trimmed an indirect holding in Turkey’s Ozsu Balik Uretim, a portfolio-management update that appears too small and unrelated to materially affect BAC’s valuation. Bank of America Trims Indirect Stake in Ozsu Balik Uretim
• Neutral Sentiment: Coverage of CEO Brian Moynihan’s distinctive language during analyst calls is reputational rather than financial and provides no new earnings or capital-allocation information. The Secret Word Game Bank of America’s CEO Plays With Wall Street

Bank of America Stock Down 0.8%

Shares of Bank of America stock opened at $63.98 on Tuesday. 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 stock has a market capitalization of $447.40 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.23. The company has a 50-day simple moving average of $59.98 and a two-hundred day simple moving average of $54.40.

Bank of America (NYSE:BAC) last posted its quarterly 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 firm had revenue of $31.56 billion for 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 business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. On average, analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a yield of 2.0%. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Argus set a $70.00 target price on shares of Bank of America in a report on Wednesday, July 15th. Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lifted their price objective on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Bank of America 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.