Flputnam Investment Management Co. Invests $40.23 Million in Bank of America Corporation $BAC

Key Points

• Flputnam Investment Management acquired 706,054 Bank of America shares in the second quarter, worth approximately $40.23 million. Institutional investors collectively own 70.71% of BAC’s outstanding stock.
• Bank of America reported quarterly EPS of $1.21, exceeding estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion.
• The company increased its quarterly dividend from $0.28 to $0.32 per share, equivalent to an annualized $1.28 payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.

Flputnam Investment Management Co. acquired a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 706,054 shares of the financial services provider's stock, valued at approximately $40,231,000.

Several other hedge funds also recently bought and sold shares of BAC. Norges Bank bought a new position in Bank of America in the 4th quarter valued at $4,774,210,000. Capital International Investors bought a new position in shares of Bank of America in the fourth quarter worth $2,357,461,000. Bank of New York Mellon Corp bought a new position in shares of Bank of America in the second quarter worth $2,313,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after buying an additional 40,235,201 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE BAC opened at $63.17 on Thursday. The company has a 50-day simple moving average of $60.35 and a two-hundred day simple moving average of $54.56. 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 12-month low of $46.12 and a 12-month high of $65.22. The firm has a market cap of $441.73 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating 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 for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. On average, equities analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date 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 25.69%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
• Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
• Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
• Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Bank of America from $67.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Barclays upped their target price on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Daiwa Securities Group raised their price target on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. UBS Group lifted their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Morgan Stanley boosted their price objective on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.08.

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.

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