Caldwell Investment Management Ltd. Buys New Holdings in Bank of America Corporation $BAC

Caldwell Investment Management Ltd. purchased a new position in Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 370,400 shares of the financial services provider's stock, valued at approximately $21,090,000. Bank of America accounts for about 13.8% of Caldwell Investment Management Ltd.'s investment portfolio, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its stake in shares of Bank of America by 53.0% during the fourth 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 during the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Bank of America in the second quarter worth about $4,089,000. Legal & General Group Plc lifted its holdings in Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock worth $2,497,655,000 after buying an additional 1,487,809 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Bank of America by 34.3% in the 4th quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider's stock worth $119,647,000 after buying an additional 555,063 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Bank of America in the 1st quarter worth approximately $67,507,000. Institutional investors own 70.71% of the company's stock.

Bank of America News Roundup

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 Trading Up 1.1%

Bank of America stock 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 company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The business's fifty day simple moving average is $60.73 and its two-hundred day simple moving average is $54.73. The company has a market capitalization of $436.03 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly 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 firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. As a group, equities analysts predict 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. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America's dividend payout ratio is currently 25.69%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAC. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a 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 stock an "overweight" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Bank of America from $62.50 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Finally, Truist Financial lifted their price objective on Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $64.08.

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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