B. Metzler seel. Sohn & Co. AG Acquires Shares of 79,862 Bank of America Corporation $BAC

B. Metzler seel. Sohn & Co. AG bought a new position in Bank of America Corporation (NYSE:BAC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 79,862 shares of the financial services provider's stock, valued at approximately $4,160,000.

Other hedge funds have also modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new position in Bank of America in the 2nd quarter worth approximately $25,000. Abound Financial LLC bought a new position in Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at $27,000. CrossGen Wealth LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America during the fourth quarter worth $32,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Up 1.1%

NYSE BAC opened at $62.35 on Tuesday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock has a 50-day simple moving average of $60.73 and a 200 day simple moving average of $54.73. 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 company has a market capitalization of $436.03 billion, a PE ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 2.1%. 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 payout ratio is 25.69%.

Analysts Set New Price Targets

BAC has been the topic of several recent research reports. 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. Jefferies Financial Group reissued a "buy" rating and set a $75.00 price objective on shares of Bank of America in a report on Tuesday, July 14th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Barclays raised their target price on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Finally, UBS Group lifted their price target on shares of Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $64.08.

Trending Headlines about Bank of America

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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