HB Wealth Management LLC Has $30.59 Million Holdings in Bank of America Corporation $BAC

Key Points

• HB Wealth Management increased its Bank of America stake by 25.5% in the second quarter, adding 109,117 shares to hold 536,760 shares valued at approximately $30.59 million. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America exceeded quarterly expectations, reporting $1.21 in earnings per share and $31.56 billion in revenue, with revenue up 19.6% year over year. The company also raised its quarterly dividend to $0.32 per share, implying a 2.0% annual yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $64.08 price target, although Oppenheimer downgraded the stock to “Market Perform” and technical indicators warn of potential profit-taking after recent gains.

HB Wealth Management LLC grew its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 25.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 536,760 shares of the financial services provider's stock after acquiring an additional 109,117 shares during the period. HB Wealth Management LLC's holdings in Bank of America were worth $30,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America in the second quarter valued at approximately $25,000. Abound Financial LLC acquired a new position in Bank of America during the 4th quarter worth $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the 3rd quarter worth $27,000. CrossGen Wealth LLC bought a new position in Bank of America in the 4th quarter valued at $30,000. Finally, Frazier Financial Advisors LLC bought a new position in Bank of America in the 2nd quarter valued at $34,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America's New Warning Should Concern Stock Investors

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent research reports. Oppenheimer downgraded Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Argus set a $70.00 price objective on Bank of America in a research report on Wednesday, July 15th. Evercore set a $63.00 price objective on Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. Barclays boosted their price objective on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Stock Down 0.6%

Shares of NYSE:BAC opened at $62.64 on Friday. The company has a 50 day moving average price of $61.64 and a two-hundred day moving average price of $55.21. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $438.03 billion, a PE ratio of 14.37, a PEG ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $30.78 billion. During the same period last year, the firm posted $0.89 earnings per share. The business's quarterly revenue was up 19.6% compared to the same quarter last year. Analysts forecast that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The firm 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. This represents a $1.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio is presently 25.69%.

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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