MSH Capital Advisors LLC Acquires Shares of 18,791 Bank of America Corporation $BAC

MSH Capital Advisors LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,791 shares of the financial services provider's stock, valued at approximately $1,071,000.

Several other hedge funds have also made changes to their positions in the business. Turim 21 Investimentos Ltda. acquired a new position in Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $30,000. Finally, Joseph Group Capital Management acquired a new position in shares of Bank of America in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s active participation in the August bond market demonstrates continued access to wholesale funding and allows it to extend maturities through senior unsecured offerings. Its latest quarterly results also showed strong earnings and revenue growth, providing a fundamental counterweight to near-term concerns. Bank of America's Stock Market Signal Flashes Warning
• Neutral Sentiment: Bank of America increased its indirect stake in Turkish industrial technology company Hidropar to 5.386%. The disclosure indicates portfolio or client-related investment activity, but it is not expected to materially affect BAC’s earnings. Bank of America Lifts Indirect Stake in Hidropar to 5.386%
• Neutral Sentiment: Bank of America crossed a disclosure threshold in Smith & Nephew, reflecting an updated shareholding. The move is unlikely to have a meaningful direct impact on BAC’s common stock. Smith & Nephew Discloses Updated Bank of America Shareholding
• Neutral Sentiment: Bank of America’s analysts issued views on HP, Home Depot and Nvidia. These calls may generate research-related attention, but they do not materially change BAC’s own fundamentals. Bank of America Sends Warning on HP Stock
• Negative Sentiment: A market commentary warns that crowded positioning in Bank of America could make any broader-market pullback sharper. Separate analysis questions whether BAC is undervalued after its recent bond issuance, while noting recent short-term share-price weakness. These factors are weighing on sentiment despite the bank’s solid earnings profile. Bank of America's Stock Market Signal Flashes Warning Is Bank of America Undervalued?
• Negative Sentiment: Analysis of Bank of America preferred stock suggests that more attractive alternatives may exist than Series GG. While this primarily affects preferred securities, it can modestly temper sentiment toward BAC’s capital-raising instruments. Bank of America Preferreds: Better Propositions Available Than Series GG

Bank of America Trading Up 0.1%

Shares of BAC stock opened at $61.73 on Monday. The business's fifty day moving average price is $60.60 and its 200 day moving average price is $54.67. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The firm has a market capitalization of $431.66 billion, a PE ratio of 14.16, a P/E/G ratio of 0.98 and a beta of 1.17. 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. As a group, sell-side analysts forecast that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group restated a "buy" rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. UBS Group boosted their price objective on shares of Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Citigroup raised their target price on shares of Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, Truist Financial boosted their price target on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and an average price target of $64.08.

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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