Live Oak Private Wealth LLC Sells 24,672 Shares of Bank of America Corporation $BAC

Key Points

• Live Oak Private Wealth reduced its Bank of America stake by 6.7%, selling 24,672 shares and retaining 344,965 shares worth approximately $19.7 million. BAC represents about 2.5% of the firm’s portfolio.
• Bank of America reported quarterly EPS of $1.21, exceeding the $1.13 consensus, 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.
• Analysts maintain a generally positive outlook, with 21 Buy ratings and six Holds producing a “Moderate Buy” consensus and a $64.08 average price target; BAC recently traded at $64.21, near its 52-week high of $65.20.

Live Oak Private Wealth LLC decreased its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 344,965 shares of the financial services provider's stock after selling 24,672 shares during the quarter. Bank of America accounts for about 2.5% of Live Oak Private Wealth LLC's investment portfolio, making the stock its 5th biggest position. Live Oak Private Wealth LLC's holdings in Bank of America were worth $19,656,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BAC. Norges Bank acquired a new stake in shares of Bank of America during the 4th quarter worth approximately $4,774,210,000. Capital International Investors bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 valued at $2,399,798,000 after purchasing an additional 40,235,201 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 purchasing an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. boosted its stake in Bank of America by 914.5% during the fourth quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock worth $1,380,239,000 after buying an additional 22,621,546 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analysts Set New Price Targets

BAC has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Royal Bank Of Canada lifted their target price on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. HSBC upped their target price on shares of Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Oppenheimer cut shares of Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Finally, Robert W. Baird lifted their price objective on Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the 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.

Bank of America Stock Down 0.9%

Shares of NYSE:BAC opened at $64.21 on Friday. The company's fifty day moving average is $59.56 and its 200-day moving average is $54.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.20. The company has a market capitalization of $449.03 billion, a PE ratio of 14.73, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) 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 business had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter last year, the company posted $0.89 EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed 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 of this dividend 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 2.0%. Bank of America's dividend payout ratio (DPR) is 25.69%.

Bank of America News Summary

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

• Positive Sentiment: Bank of America agreed to invest up to approximately $1.9 billion for a 49.9% stake in Jio Credit, the lending subsidiary of India’s Jio Financial Services. The partnership gives BAC access to Jio’s digital distribution network and exposure to India’s expanding consumer-credit market; the initial investment is expected to provide a 26.5% stake, with warrants potentially increasing ownership. BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit
• Positive Sentiment: BAC launched an 18-month initiative to mobilize and deploy $250 billion toward U.S. digital, energy, power and core infrastructure projects. The program could generate lending, investment, capital-markets and advisory revenue, particularly from data-center and AI-related construction. Bank of America launches $250 billion initiative for US tech, energy infrastructure
• Positive Sentiment: An analyst raised Bank of America’s fiscal 2026 EPS estimate, adding to the view that earnings momentum remains favorable. The bank previously reported quarterly EPS of $1.21, above the $1.13 consensus, with revenue up 19.6% year over year. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Neutral Sentiment: Firm interest rates remain a key focus. Higher rates can support net-interest income, but continued or additional Federal Reserve tightening could pressure credit demand, bond portfolios and the broader economy. BofA Exec Still Calls For 3 Fed Hikes After July CPI
• Negative Sentiment: The Jio transaction requires substantial capital and regulatory approvals, while the benefits from building the Indian lending platform will take time to materialize. Investors may therefore be balancing long-term growth potential against near-term execution and return-on-investment uncertainty. Bank of America Jio Credit joint venture announcement

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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