Alberta Investment Management Corp Takes Position in Bank of America Corporation $BAC

Key Points

• Alberta Investment Management Corp. acquired 1.48 million Bank of America shares worth approximately $84.2 million in the second quarter, while institutional investors own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, beating estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion. The company also raised its quarterly dividend from $0.28 to $0.32 per share, producing a 2.0% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $64.08 target price, though valuation concerns, an $86.4 million bond-rigging settlement and investment-banking talent departures present risks.

Alberta Investment Management Corp purchased a new position in Bank of America Corporation (NYSE:BAC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,477,300 shares of the financial services provider's stock, valued at approximately $84,177,000.

A number of other large investors also recently modified their holdings of BAC. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new position in Bank of America in the 3rd quarter valued at $27,000. CrossGen Wealth LLC bought a new position in Bank of America in the 4th quarter valued at $30,000. Joseph Group Capital Management purchased a new position in shares of Bank of America during the 4th quarter valued at $32,000. Finally, Vermillion Wealth Management Inc. grew its position in shares of Bank of America by 199.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 438 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAC. Royal Bank Of Canada increased their price objective on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Evercore set a $63.00 target price on Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. UBS Group raised their price target 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, Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Stock Performance

Bank of America stock opened at $63.17 on Thursday. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. 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 stock has a market cap of $441.73 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The firm's fifty day moving average price is $60.35 and its 200-day moving average price is $54.56.

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 (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The company 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 firm'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 earnings per share. On average, equities research analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. 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. Bank of America's dividend payout ratio is presently 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 and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
• Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
• Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
• Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs

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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