Patron Partners LLC Makes New Investment in Bank of America Corporation $BAC

Patron Partners LLC purchased a new stake in Bank of America Corporation (NYSE:BAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,338 shares of the financial services provider’s stock, valued at approximately $1,387,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Turim 21 Investimentos Ltda. bought a new stake in Bank of America in the second quarter valued at about $25,000. Abound Financial LLC bought a new position in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC bought a new position in Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America in the 4th quarter valued at about $32,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of BAC opened at $62.35 on Tuesday. The stock has a 50 day simple moving average of $60.73 and a 200 day simple moving average of $54.73. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. 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 firm has a market capitalization of $436.03 billion, a PE ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share 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 analyst estimates 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 was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business 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 is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. 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: Higher dividend income reinforces BAC’s appeal: Bank of America has increased its payout again, generating approximately $619 million in annual dividend income for Warren Buffett’s Berkshire Hathaway. The dividend growth supports the stock’s income-investment case and signals confidence in capital generation. Iconic bank stock pays Buffett’s Berkshire $619M in annual dividends
• Positive Sentiment: Preferred-share yields attract income investors: Analysis highlighting Bank of America preferred shares offering yields of roughly 6.6% may improve visibility for the company’s broader capital-return and income-investment story, though preferred securities do not directly increase common-stock earnings. Bank of America Offers Good Alternative To Treasuries
• Neutral Sentiment: Bank of America disclosed new strategic holdings: The company reported crossing a 10% stake in Lakefront Biotherapeutics and raising an indirect stake in Sanifoam above 5% under regulatory transparency rules. These disclosures appear to reflect investment or custody activity and are not expected to materially change BAC’s operating outlook. Bank of America Builds 10% Stake in Lakefront Biotherapeutics
• Neutral Sentiment: Market sentiment remains supportive: Bank of America’s fund-manager survey found rising equity optimism and cash allocations near historic lows. Stronger risk appetite could benefit banking activity and markets, but it also raises the possibility of positioning becoming crowded. Investor bullishness surges as BofA survey shows cash levels near historic lows
• Negative Sentiment: AI could widen consumer credit risks: Bank of America research suggests artificial intelligence is creating financial winners and losers and could eventually affect consumers’ access to credit. If weaker borrowers face increased pressure, the trend could pose longer-term risks to loan growth and credit quality. BofA finds AI is creating a credit divide

Analyst Ratings Changes

BAC has been the topic of a number of analyst reports. Robert W. Baird increased 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. Argus set a $70.00 price objective on shares of Bank of America in a report on Wednesday, July 15th. Wells Fargo & Company upped their target price on shares of Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Daiwa Securities Group increased their target price on shares of Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.