Barbara Oil Co. Invests $2.28 Million in Bank of America Corporation $BAC

Barbara Oil Co. acquired a new stake in Bank of America Corporation (NYSE:BAC) during the second quarter, HoldingsChannel reports. The firm acquired 40,000 shares of the financial services provider’s stock, valued at approximately $2,279,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Bank of America in the fourth quarter valued at approximately $4,774,210,000. Capital International Investors purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $2,357,461,000. Deutsche Bank AG acquired a new position in shares of Bank of America in the 2nd quarter valued at $2,359,172,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America in the 2nd quarter valued at $2,313,953,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Bank of America by 640.5% in the 3rd 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 valued at $2,399,798,000 after buying an additional 40,235,201 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Morgan Stanley upped their target price on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company raised 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. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Trading Down 0.3%

NYSE BAC opened at $62.26 on Thursday. 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 cap of $435.37 billion, a PE ratio of 14.28, a P/E/G ratio of 1.00 and a beta of 1.17. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The firm’s fifty day moving average is $60.96 and its two-hundred day moving average is $54.83.

Bank of America (NYSE:BAC) last announced its 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. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. 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 Headlines Impacting Bank of America

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

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.