12,242 Shares in Bank of America Corporation $BAC Purchased by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC acquired 12,242 Bank of America shares worth approximately $698,000 during the second quarter. Institutional investors collectively own 70.71% of BAC, with major holders including Vanguard, Norges Bank and Deutsche Bank increasing or initiating positions.
• Analysts maintain a favorable outlook, with 21 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $64.08. BAC shares recently traded at $64.24, near their 12-month high of $65.22.
• Bank of America exceeded quarterly expectations with EPS of $1.21 and revenue of $31.56 billion, while revenue rose 19.6% year over year. The company also raised its quarterly dividend from $0.28 to $0.32 per share, implying a 2.0% annualized yield.

Maridea Wealth Management LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,242 shares of the financial services provider's stock, valued at approximately $698,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $4,774,210,000. Bank of New York Mellon Corp increased its position in shares of Bank of America by 5.4% during the fourth 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 in the last quarter. Fisher Asset Management LLC increased its position in shares of Bank of America by 2.1% during the fourth 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. Finally, Deutsche Bank AG raised its holdings in Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider's stock worth $2,594,488,000 after acquiring an additional 2,611,776 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the topic of several analyst reports. Citigroup upped their price objective on Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Robert W. Baird lifted their target price on Bank of America from $58.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Morgan Stanley boosted their price target on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Evercore set a $63.00 price target on Bank of America and gave the company an "outperform" rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada increased their price objective on Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Trading Up 0.5%

Shares of BAC stock opened at $64.24 on Wednesday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm's 50 day moving average is $60.18 and its 200 day moving average is $54.49. The stock has a market capitalization of $449.19 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its 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 business had revenue of $31.56 billion during 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 company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. Research analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current year.

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 $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Bank of America's previous quarterly dividend of $0.28. 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%.

Key Bank of America News

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

• Positive Sentiment: Bank of America is investing $1.9 billion for up to a 49.9% stake in Jio Credit, expanding its presence in India’s fast-growing financial-services market and creating potential long-term revenue growth. Will Bank of America Benefit From the Jio Credit Partnership in India?
• Positive Sentiment: BofA’s global fund-manager survey showed unusually strong optimism toward equities, with investors relatively unconcerned about higher rates, economic weakness, political instability and AI capital spending. This supports a constructive backdrop for large financial stocks. Fund managers have rarely been this bullish about stocks
• Positive Sentiment: Bank of America’s bullish calls on cybersecurity, AI infrastructure and memory-chip companies highlight its investment-banking and research exposure to areas attracting strong investor demand. The bank also sees gold reaching $5,000, reflecting active market opportunities for its clients. AI Agents Are Creating a New Cybersecurity Boom
• Neutral Sentiment: Strategists Michael Hartnett and other BofA analysts warned that record U.S. deficits, rising long-term yields and potential global stagflation make bonds less attractive. The outlook could support trading activity and net interest income, but it also raises risks for bond portfolios and the broader economy. With the national debt nearing $40 trillion
• Negative Sentiment: Bank of America cautioned that the AI boom’s heavy capital spending could create a less visible market vulnerability if expected returns fail to justify investments. That warning may weigh on sentiment toward banks exposed to technology financing and capital markets. Bank of America Has a Stark Warning on AI Spending
• Negative Sentiment: BAC is among six banks agreeing to an $86.4 million settlement over alleged Mexican bond-market manipulation. Although the cost is shared and appears manageable relative to BAC’s size, the matter adds regulatory and litigation overhang. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case

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.

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