Whalen Wealth Management Inc. Makes New $1.65 Million Investment in Bank of America Corporation $BAC

Whalen Wealth Management Inc. acquired a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,935 shares of the financial services provider’s stock, valued at approximately $1,649,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Turim 21 Investimentos Ltda. purchased a new stake in Bank of America during the 2nd quarter valued at $25,000. Abound Financial LLC purchased a new position in shares of Bank of America in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management purchased a new stake in shares of Bank of America during the fourth quarter worth about $32,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAC. Morgan Stanley boosted their price target on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Wells Fargo & Company lifted their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Truist Financial upped their target price on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, UBS Group raised 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. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s approximately $40 billion share-repurchase authorization could retire as much as 11% of outstanding shares, potentially supporting earnings per share and providing a valuation floor. The buyback is particularly notable following the company’s recent earnings beat and 19.6% year-over-year revenue growth. Bank of America stock information
• Positive Sentiment: Bank of America analysts continue to influence investor views on artificial intelligence, semiconductors and global markets. Positive calls on Nvidia and SK Hynix reinforce the bank’s research franchise and could support investment-banking and trading activity, although these reports do not directly change BAC’s fundamentals. BofA analyst Nvidia outlook
• Neutral Sentiment: The bank issued several senior unsecured medium-term notes in August, including bonds maturing from 2029 through 2046. The issuance adds funding and liquidity but also increases interest expense and leverage, making the net shareholder impact dependent on how the proceeds are used. Bank of America debt issuance and AI research
• Negative Sentiment: SEC subpoenas involving major prime brokers, including Bank of America, create a regulatory overhang. The investigation focuses on leverage and risk controls tied to a heavily leveraged hedge fund; while immediate solvency risk appears limited, tighter margin rules could reduce trading activity and raise compliance costs. SEC subpoena and banking-sector liquidity analysis
• Negative Sentiment: Bank of America expects to spend at least $250 million annually on GLP-1 weight-loss drugs for employees. Management views the benefit as worthwhile, but the expense could pressure operating costs and margins. Bank of America employee GLP-1 spending

Bank of America Stock Down 0.3%

Shares of NYSE:BAC opened at $62.26 on Thursday. The firm has a market capitalization of $435.37 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.00 and a beta of 1.17. 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 50 day moving average price of $60.96 and a 200-day moving average price of $54.83. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, equities research 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. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

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.