Myriad Asset Management Advisors LLC Acquires 13,422 Shares of Bank of America Corporation $BAC

Key Points

• Myriad Asset Management increased its Bank of America stake by 19.3% in the second quarter, purchasing 13,422 additional shares for a total of 83,022 shares valued at approximately $4.73 million. Institutional investors collectively own 70.71% of BAC.
• Analysts maintain a generally positive view, with 21 Buy ratings and six Holds. Bank of America has a “Moderate Buy” consensus rating and an average price target of $64.08.
• Bank of America raised its quarterly dividend to $0.32 per share, up from $0.28, implying a $1.28 annualized payout and a 2.0% yield. Shares opened at $64.82, near the company’s 12-month high of $64.95.

Myriad Asset Management Advisors LLC raised its stake in Bank of America Corporation (NYSE:BAC) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,022 shares of the financial services provider's stock after purchasing an additional 13,422 shares during the period. Bank of America accounts for approximately 1.1% of Myriad Asset Management Advisors LLC's investment portfolio, making the stock its 22nd biggest position. Myriad Asset Management Advisors LLC's holdings in Bank of America were worth $4,731,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC lifted its stake in shares of Bank of America by 37.0% during the 2nd quarter. Hughes Financial Services LLC now owns 1,254 shares of the financial services provider's stock worth $71,000 after buying an additional 339 shares during the last quarter. AA Financial Advisors LLC grew its stake in Bank of America by 13.5% in the 2nd quarter. AA Financial Advisors LLC now owns 17,768 shares of the financial services provider's stock valued at $1,012,000 after buying an additional 2,107 shares during the last quarter. Marshall Financial Group LLC grew its stake in Bank of America by 1.8% in the 2nd quarter. Marshall Financial Group LLC now owns 14,532 shares of the financial services provider's stock valued at $828,000 after buying an additional 260 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Bank of America by 1.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 144,706 shares of the financial services provider's stock valued at $8,245,000 after acquiring an additional 2,013 shares during the period. Finally, Ballast Inc. raised its holdings in Bank of America by 65.6% in the 2nd quarter. Ballast Inc. now owns 14,875 shares of the financial services provider's stock valued at $848,000 after acquiring an additional 5,894 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAC shares. Royal Bank Of Canada boosted their price objective on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. The Goldman Sachs Group increased their target price on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Piper Sandler lifted their price target on Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. UBS Group boosted their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Bank of America has an average rating of "Moderate Buy" and an average target price of $64.08.

Bank of America Stock Up 1.3%

Shares of BAC opened at $64.82 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 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 $64.95. The firm's 50 day moving average is $59.36 and its 200-day moving average is $54.14. The stock has a market capitalization of $453.27 billion, a PE ratio of 14.87, a P/E/G ratio of 1.02 and a beta of 1.17.

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 paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. 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%. Bank of America's dividend payout ratio is currently 25.69%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: India expansion: Bank of America agreed to invest up to approximately $1.9 billion for as much as a 49.9% stake in Jio Credit, a non-bank lending subsidiary of Jio Financial Services. The partnership gives BAC access to India’s growing digital-credit market while providing Jio Credit with additional capital and global banking expertise. Reuters article
• Positive Sentiment: $250 billion infrastructure initiative: BAC plans to mobilize and deploy $250 billion through July 2027 for digital, energy, power and core infrastructure projects, including data centers, semiconductors, transportation and power generation. The program could expand lending, investment-banking and advisory revenue, while positioning the bank to benefit from rising AI and energy-infrastructure spending. Bank of America press release
• Positive Sentiment: Cybersecurity investment: BAC plans to acquire MDSec and add 65 specialists, strengthening protection for its digital-banking operations as artificial intelligence increases cyber risks. The move may improve operational resilience, although near-term financial benefits are likely limited. Yahoo Finance article
• Neutral Sentiment: Analyst outlook: Erste Group modestly raised its 2026 EPS estimate to $4.65 and projected $5.25 for 2027, supporting the broader constructive view of BAC’s earnings trajectory. The 2026 estimate remains slightly below consensus.
• Neutral Sentiment: Execution and credit risk: BAC is tightening lending standards for data-center projects because of permitting delays, community opposition and environmental concerns. This could reduce risk, but may also limit the pace of lending growth tied to the AI buildout. Yahoo Finance article

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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