1,657,552 Shares in Bank of America Corporation $BAC Purchased by Nykredit A S

Key Points

• Nykredit A S acquired 1,657,552 Bank of America shares during the second quarter, valued at approximately $94.4 million. Institutional investors and hedge funds collectively own 70.71% of BAC’s outstanding stock.
• Analysts maintain a favorable outlook, with 21 Buy ratings and six Hold ratings, producing a consensus “Moderate Buy” rating and a $64.08 price target.
• Bank of America exceeded quarterly earnings and revenue expectations, reporting $1.21 in EPS and $31.56 billion in revenue. The company also raised its quarterly dividend to $0.32 per share, equivalent to a 2.0% annual yield.

Nykredit A S acquired a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,657,552 shares of the financial services provider's stock, valued at approximately $94,447,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Bank of America in the fourth quarter worth approximately $4,774,210,000. Bank of New York Mellon Corp boosted its stake in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider's stock worth $3,169,062,000 after purchasing an additional 2,929,779 shares during the last quarter. Fisher Asset Management LLC grew its holdings 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 worth $2,958,110,000 after buying an additional 1,105,833 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Bank of America by 5.9% during the fourth quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider's stock worth $2,594,488,000 after buying an additional 2,611,776 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Bank of America by 640.5% in the third 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. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BAC shares. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Truist Financial increased their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. UBS Group raised their target price on shares of Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. 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 report on Wednesday, July 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Trading Up 1.0%

Shares of BAC opened at $62.63 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The firm has a 50-day moving average price of $61.45 and a 200 day moving average price of $55.08. The firm has a market capitalization of $437.93 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.99 and a beta of 1.15.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The company 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%. Bank of America's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. Sell-side analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. This is a boost from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio is presently 25.69%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank stocks are attracting capital as investors anticipate rising rates, which could support lending revenue and net interest income. Concerns about AI valuations are also encouraging a shift toward established financial companies. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: BAC joined 20 other financial institutions in planning a company to issue a U.S. dollar stablecoin in the first half of 2027. The initiative could give Bank of America a role in blockchain-based payments, liquidity and digital-asset infrastructure, although revenue benefits remain several quarters away. Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027
• Positive Sentiment: Analysts and market commentary continue to highlight BAC’s valuation, with one estimate indicating approximately 31% potential upside based on intrinsic value. Institutional interest in dividend-paying financial stocks may provide additional support. Bank of America Stock May Be 31% Undervalued Despite Stablecoin Plans
• Neutral Sentiment: Bank of America says the search for yield is increasing demand for high-quality bonds and changing credit-risk management. The observation supports its fixed-income and investment-banking businesses but does not represent a specific earnings forecast. The hunt for yield is changing how investors trade credit
• Neutral Sentiment: Routine regulatory disclosures showed Merrill Lynch reducing indirect stakes in several Turkish companies. These transactions appear unrelated to BAC’s core operating outlook.
• Negative Sentiment: Berkshire Hathaway has reduced its Bank of America position for eight consecutive quarters, a source of potential selling pressure and a negative signal for investors who closely follow Berkshire’s portfolio decisions. Warren Buffett's Successor Greg Abel Started His Tenure With a Bang

Bank of America Company 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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