Cooper Haims Advisors LLC Makes New Investment in Bank of America Corporation $BAC

Key Points

• Cooper Haims Advisors LLC acquired 8,642 Bank of America shares in the second quarter, valued at approximately $492,000. Institutional investors collectively own 70.71% of BAC’s outstanding stock.
• Bank of America reported quarterly earnings of $1.21 per share, exceeding estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion. The company also increased its quarterly dividend from $0.28 to $0.32 per share, representing a 2.1% yield.
• Analysts maintain a generally positive outlook, with 21 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and a $64.08 price target. Potential risks include elevated operating expenses and an SEC investigation into margin lending tied to a hedge fund’s losses.

Cooper Haims Advisors LLC acquired a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,642 shares of the financial services provider's stock, valued at approximately $492,000.

Other institutional investors have also recently made changes to their positions in the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America in the second quarter worth $25,000. Abound Financial LLC purchased a new stake in Bank of America during the 4th quarter valued at $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America in the 3rd quarter worth $27,000. CrossGen Wealth LLC purchased a new position in shares of Bank of America in the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management purchased a new position in shares of Bank of America in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Down 1.7%

Shares of Bank of America stock opened at $61.17 on Friday. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The firm has a market cap of $427.73 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17. The company has a 50-day moving average of $61.06 and a 200 day moving average of $54.86. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $31.56 billion for 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%. Bank of America's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio (DPR) is 25.69%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BAC. Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Barclays upped their price target on Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. UBS Group increased their price objective on Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. 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 data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s AI initiatives, including branch expansion and automation, may improve operating efficiency and customer service over time. However, continued expense growth could limit the near-term benefit. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: BofA Securities continues to demonstrate a constructive view on major growth and technology markets, reiterating Buy ratings on Alibaba, Nvidia, Prudential and Elbit Systems. The activity supports the visibility of BAC’s investment-banking and research franchise, although it has limited direct impact on earnings. Alibaba Raises $10 Billion for AI — Why BofA Is Looking Past the Dilution
• Neutral Sentiment: Bank of America issued several senior unsecured notes in August, with maturities extending from 2029 to 2046. The issuance supports liquidity and funding flexibility, but adds to interest obligations and offers no immediate change to the company’s earnings outlook. What Bank of America (BAC)'s New Debt Issuance and AI Credit Research Push Means For Shareholders
• Negative Sentiment: The SEC reportedly subpoenaed Bank of America, Goldman Sachs, JPMorgan and Citigroup regarding margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The investigation raises potential legal, compliance and credit-loss risks, particularly if leveraged clients cannot meet obligations. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: Persistent operating-cost pressure remains a concern for BAC investors. While AI and branch expansion could boost productivity, elevated expenses may weigh on margins and reduce the benefit of the bank’s recent revenue growth.

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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