Mission Wealth Management LP Buys 65,710 Shares of Bank of America Corporation $BAC

Mission Wealth Management LP raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 54.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,562 shares of the financial services provider’s stock after buying an additional 65,710 shares during the quarter. Mission Wealth Management LP’s holdings in Bank of America were worth $10,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Abound Financial LLC purchased a new position in Bank of America during the fourth quarter valued at approximately $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America in the 4th quarter worth approximately $30,000. Joseph Group Capital Management purchased a new stake in Bank of America in the 4th quarter worth approximately $32,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in Bank of America by 199.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 438 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Up 1.3%

Shares of BAC stock opened at $64.82 on Thursday. The business has a 50-day moving average price of $59.36 and a two-hundred day moving average price of $54.14. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $64.95. 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 has a market cap of $453.27 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.17.

Bank of America Increases Dividend

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: India expansion: Bank of America agreed to invest up to approximately $1.9 billion for as much as a 49.9% stake in Jio Credit, a non-bank lending subsidiary of Jio Financial Services. The partnership gives BAC access to India’s growing digital-credit market while providing Jio Credit with additional capital and global banking expertise. Reuters article
• Positive Sentiment: $250 billion infrastructure initiative: BAC plans to mobilize and deploy $250 billion through July 2027 for digital, energy, power and core infrastructure projects, including data centers, semiconductors, transportation and power generation. The program could expand lending, investment-banking and advisory revenue, while positioning the bank to benefit from rising AI and energy-infrastructure spending. Bank of America press release
• Positive Sentiment: Cybersecurity investment: BAC plans to acquire MDSec and add 65 specialists, strengthening protection for its digital-banking operations as artificial intelligence increases cyber risks. The move may improve operational resilience, although near-term financial benefits are likely limited. Yahoo Finance article
• Neutral Sentiment: Analyst outlook: Erste Group modestly raised its 2026 EPS estimate to $4.65 and projected $5.25 for 2027, supporting the broader constructive view of BAC’s earnings trajectory. The 2026 estimate remains slightly below consensus.
• Neutral Sentiment: Execution and credit risk: BAC is tightening lending standards for data-center projects because of permitting delays, community opposition and environmental concerns. This could reduce risk, but may also limit the pace of lending growth tied to the AI buildout. Yahoo Finance article

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Barclays lifted their price objective on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their target price on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Truist Financial upped their target price on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley raised 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. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average 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.