Delta Global Management LP Buys 9,287 Shares of Bank of America Corporation $BAC

Key Points

• Delta Global Management LP increased its Bank of America stake by 2.6% in the first quarter, buying 9,287 shares and bringing its total to 372,147 shares worth about $18.1 million.
• Bank of America recently raised its quarterly dividend by 14% to $0.32 per share, signaling continued confidence in capital generation and shareholder returns.
• Analysts remain broadly positive on BAC, with a consensus “Moderate Buy” rating and an average price target of $63.77, while the stock also recently beat earnings estimates with $1.21 EPS for the quarter.

Delta Global Management LP raised its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 372,147 shares of the financial services provider's stock after buying an additional 9,287 shares during the quarter. Bank of America accounts for about 1.5% of Delta Global Management LP's portfolio, making the stock its 22nd largest position. Delta Global Management LP's holdings in Bank of America were worth $18,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after acquiring an additional 25,143 shares during the period. Sivia Capital Partners LLC grew its holdings in Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC grew its holdings in Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 18,227 shares during the period. Nebula Research & Development LLC bought a new stake in Bank of America in the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP increased its stake in Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA's famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research report on Tuesday. Jefferies Financial Group restated a "buy" rating and issued a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on Bank of America from $57.50 to $62.50 and gave the stock an "overweight" rating in a research note on Monday, July 6th. UBS Group lifted their target price on Bank of America from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Oppenheimer cut Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $63.77.

Bank of America Stock Up 1.2%

Bank of America stock opened at $62.00 on Friday. The company has a 50 day moving average of $56.42 and a 200-day moving average of $53.36. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.28. The stock has a market capitalization of $439.96 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 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%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. On average, equities research analysts anticipate that Bank of America Corporation will post 4.65 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. Bank of America's dividend payout ratio is currently 25.69%.

About Bank of America

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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