30,227 Shares in Bank of America Corporation $BAC Bought by Compass Financial Management LLC

Key Points

• Compass Financial Management acquired 30,227 Bank of America shares worth approximately $1.88 million, while institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly earnings of $1.21 per share and revenue of $31.56 billion, exceeding analyst expectations; revenue increased 19.6% year over year.
• The bank raised its quarterly dividend to $0.32 per share, implying an annualized dividend of $1.28 and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with a $64.08 average price target.

Compass Financial Management LLC acquired a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,227 shares of the financial services provider's stock, valued at approximately $1,876,000.

Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB increased its stake in shares of Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after acquiring an additional 1,603,080 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Bank of America by 45.4% in the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock worth $2,336,000 after purchasing an additional 12,794 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Bank of America in the 2nd quarter valued at $4,089,000. Bernicke Wealth Management Ltd. bought a new stake in Bank of America during the 2nd quarter valued at $2,132,000. Finally, Legal & General Group Plc increased its stake in Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock valued at $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

BAC stock opened at $62.64 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a market cap of $438.03 billion, a PE ratio of 14.37, a P/E/G ratio of 1.00 and a beta of 1.15. The business has a 50 day moving average of $61.64 and a 200-day moving average of $55.21. 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 - Get Free Report) last issued its quarterly 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. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period last year, the company posted $0.89 earnings per share. Bank of America's quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side 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 declared 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. This is an increase from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America's payout ratio is presently 25.69%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Argus set a $70.00 target price on shares of Bank of America in a research report on Wednesday, July 15th. Barclays boosted their target price on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Truist Financial raised 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. Finally, Evercore set a $63.00 price target on Bank of America and gave the company an "outperform" rating in a research note on Monday, July 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Key Stories Impacting Bank of America

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

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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