Bank of America Corporation $BAC Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its position in shares of Bank of America Corporation (NYSE:BAC) by 1.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,116,080 shares of the financial services provider’s stock after buying an additional 10,526 shares during the period. TD Waterhouse Canada Inc.’s holdings in Bank of America were worth $65,160,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Bank of America during the 4th quarter worth about $4,774,210,000. Bank of New York Mellon Corp boosted its holdings in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after acquiring an additional 2,929,779 shares during the period. Fisher Asset Management LLC grew its position in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after acquiring an additional 1,105,833 shares in the last quarter. Deutsche Bank AG increased its stake in Bank of America by 5.9% during the fourth quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after purchasing an additional 2,611,776 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on BAC. UBS Group increased their price target on shares of Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Bank of America in a report on Tuesday, July 14th. Finally, Robert W. Baird raised their price target on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Stablecoin initiative could create a new growth opportunity. Bank of America joined 20 other financial institutions planning a company to issue a U.S. dollar stablecoin in 2027. The project could expand the bank’s role in digital payments, blockchain-based liquidity and institutional settlement, although regulatory and execution details remain important. Bank of America and Citi Join 21-Firm USD Stablecoin Plan
• Positive Sentiment: Bank stocks are attracting capital. Investors are shifting toward major banks amid expectations of rising rates and concerns about elevated artificial-intelligence valuations. Higher rates can support net interest income, while BAC’s scale and diversified businesses may benefit from stronger financial-sector flows. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: Options activity and analyst sentiment are constructive. Call-option volume was reported at roughly 363,000 contracts, 172% above typical levels, while brokerages assigned BAC a consensus “Moderate Buy” rating. A valuation analysis also suggested the shares could be undervalued, supporting the bullish case. Bank of America Corporation Given Consensus Recommendation of Moderate Buy

Bank of America Stock Performance

Shares of BAC opened at $63.07 on Friday. The stock has a 50-day simple moving average of $61.55 and a 200-day simple moving average of $55.15. 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 $441.03 billion, a PE ratio of 14.47, a PEG ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

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

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.