HighTower Advisors LLC Raises Stock Holdings in Bank of America Corporation $BAC

HighTower Advisors LLC lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,935,356 shares of the financial services provider's stock after acquiring an additional 361,243 shares during the period. HighTower Advisors LLC owned 0.10% of Bank of America worth $395,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Turim 21 Investimentos Ltda. acquired a new stake in Bank of America during the 2nd quarter worth approximately $25,000. Abound Financial LLC purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $26,000. Wiser Advisor Group LLC acquired a new position in shares of Bank of America in the third quarter valued at approximately $27,000. CrossGen Wealth LLC acquired a new position in shares of Bank of America in the fourth quarter valued at approximately $30,000. Finally, Vermillion Wealth Management Inc. raised its stake in shares of Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider's stock worth $32,000 after purchasing an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Down 0.1%

Bank of America stock opened at $62.64 on Monday. The stock's 50 day moving average price is $61.64 and its 200 day moving average price is $55.22. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a market cap of $438.03 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.15. 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 released its quarterly earnings data 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 analysts' expectations 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 revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, sell-side analysts predict that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business 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 $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is 29.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays increased their price target on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. UBS Group upped their price objective on shares of Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Finally, Evercore set a $63.00 price target on shares of Bank of America and gave the stock an "outperform" rating in a research note on Monday, July 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and an average target price 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 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

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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