B. Metzler seel. Sohn & Co. AG Acquires New Position in Bank of America Corporation $BAC

B. Metzler seel. Sohn & Co. AG acquired a new stake in Bank of America Corporation (NYSE:BAC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 757,641 shares of the financial services provider's stock, valued at approximately $43,170,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Institute of Technology purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $313,000. TrinityBridge Ltd acquired a new stake in shares of Bank of America in the 2nd quarter valued at approximately $3,294,000. NFJ Investment Group LLC purchased a new stake in shares of Bank of America in the second quarter valued at approximately $20,867,000. Bernicke Wealth Management Ltd. purchased a new stake in shares of Bank of America in the second quarter valued at approximately $2,132,000. Finally, Silvant Capital Management LLC acquired a new position in Bank of America during the second quarter worth $4,426,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Up 1.1%

BAC opened at $62.35 on Tuesday. The business's fifty day moving average is $60.73 and its two-hundred day moving average is $54.73. 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 company has a market cap of $436.03 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. Bank of America's revenue was up 19.6% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio is currently 25.69%.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Daiwa Securities Group increased their price objective on Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their price target on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bank of America from $62.50 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.08.

Bank of America News Summary

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

• Positive Sentiment: Higher dividend income reinforces BAC’s appeal: Bank of America has increased its payout again, generating approximately $619 million in annual dividend income for Warren Buffett’s Berkshire Hathaway. The dividend growth supports the stock’s income-investment case and signals confidence in capital generation. Iconic bank stock pays Buffett's Berkshire $619M in annual dividends
• Positive Sentiment: Preferred-share yields attract income investors: Analysis highlighting Bank of America preferred shares offering yields of roughly 6.6% may improve visibility for the company’s broader capital-return and income-investment story, though preferred securities do not directly increase common-stock earnings. Bank of America Offers Good Alternative To Treasuries
• Neutral Sentiment: Bank of America disclosed new strategic holdings: The company reported crossing a 10% stake in Lakefront Biotherapeutics and raising an indirect stake in Sanifoam above 5% under regulatory transparency rules. These disclosures appear to reflect investment or custody activity and are not expected to materially change BAC’s operating outlook. Bank of America Builds 10% Stake in Lakefront Biotherapeutics
• Neutral Sentiment: Market sentiment remains supportive: Bank of America’s fund-manager survey found rising equity optimism and cash allocations near historic lows. Stronger risk appetite could benefit banking activity and markets, but it also raises the possibility of positioning becoming crowded. Investor bullishness surges as BofA survey shows cash levels near historic lows
• Negative Sentiment: AI could widen consumer credit risks: Bank of America research suggests artificial intelligence is creating financial winners and losers and could eventually affect consumers’ access to credit. If weaker borrowers face increased pressure, the trend could pose longer-term risks to loan growth and credit quality. BofA finds AI is creating a credit divide

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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