Cooper Haims Advisors LLC Invests $492,000 in Bank of America Corporation $BAC

Cooper Haims Advisors LLC purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,642 shares of the financial services provider’s stock, valued at approximately $492,000.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Robert W. Baird increased their target price on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Wells Fargo & Company boosted their price target on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Stock Down 1.7%

Shares of Bank of America stock opened at $61.17 on Friday. The company has a market cap of $427.73 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company’s 50 day moving average is $61.06 and its 200 day moving average is $54.86. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter last year, the company posted $0.89 earnings per share. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Research analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. This is an increase 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 25.69%.

More Bank of America News

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

• Positive Sentiment: Bank of America’s AI initiatives, including branch expansion and automation, may improve operating efficiency and customer service over time. However, continued expense growth could limit the near-term benefit. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: BofA Securities continues to demonstrate a constructive view on major growth and technology markets, reiterating Buy ratings on Alibaba, Nvidia, Prudential and Elbit Systems. The activity supports the visibility of BAC’s investment-banking and research franchise, although it has limited direct impact on earnings. Alibaba Raises $10 Billion for AI — Why BofA Is Looking Past the Dilution
• Neutral Sentiment: Bank of America issued several senior unsecured notes in August, with maturities extending from 2029 to 2046. The issuance supports liquidity and funding flexibility, but adds to interest obligations and offers no immediate change to the company’s earnings outlook. What Bank of America (BAC)’s New Debt Issuance and AI Credit Research Push Means For Shareholders
• Negative Sentiment: The SEC reportedly subpoenaed Bank of America, Goldman Sachs, JPMorgan and Citigroup regarding margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The investigation raises potential legal, compliance and credit-loss risks, particularly if leveraged clients cannot meet obligations. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: Persistent operating-cost pressure remains a concern for BAC investors. While AI and branch expansion could boost productivity, elevated expenses may weigh on margins and reduce the benefit of the bank’s recent revenue growth.

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.