Bank of America Corporation $BAC Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,935,356 shares of the financial services provider’s stock after purchasing an additional 361,243 shares during the quarter. HighTower Advisors LLC’s holdings in Bank of America were worth $395,177,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Turim 21 Investimentos Ltda. acquired a new stake in Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC purchased a new position in Bank of America during the 4th quarter valued at about $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC acquired a new position in Bank of America during the fourth quarter worth about $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Bank of America in the second quarter valued at about $34,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $62.64 on Monday. The company has a 50-day simple moving average of $61.64 and a 200-day simple moving average of $55.22. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $438.03 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a 12 month low of $46.12 and a 12 month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The firm 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 $0.32 dividend. This is an increase 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 2.0%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is presently 29.36%.

Analysts Set New Price Targets

BAC has been the topic of several research reports. Barclays increased their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Evercore set a $63.00 price objective on Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. Royal Bank Of Canada upped their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. UBS Group increased their target price on Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America’s New Warning Should Concern Stock Investors

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.