NBH Bank Makes New Investment in Bank of America Corporation $BAC

Key Points

• NBH Bank purchased 19,352 Bank of America shares during the second quarter, worth approximately $1.1 million. Hedge funds and other institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding the $1.13 analyst estimate, while revenue rose 19.6% year over year to $31.56 billion.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $64.08 price target. The company also raised its quarterly dividend from $0.28 to $0.32 per share, representing a 2.0% yield.

NBH Bank bought a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,352 shares of the financial services provider's stock, valued at approximately $1,103,000.

Several other hedge funds have also made changes to their positions in the company. Total Clarity Wealth Management Inc. increased its stake in shares of Bank of America by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider's stock valued at $279,000 after buying an additional 168 shares during the period. Orca Wealth Management LLC lifted its stake in Bank of America by 0.5% in the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock worth $1,999,000 after acquiring an additional 179 shares during the period. Financial Consulate Inc. lifted its stake in Bank of America by 4.0% in the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider's stock worth $270,000 after acquiring an additional 181 shares during the period. Money Concepts Capital Corp grew its holdings in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after acquiring an additional 182 shares in the last quarter. Finally, Bedel Financial Consulting Inc. increased its position in Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider's stock valued at $938,000 after purchasing an additional 184 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Bank of America News

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

Several equities research analysts have recently commented on BAC shares. Truist Financial boosted their price target on shares of Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Barclays increased their price objective on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. UBS Group boosted 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 note on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their target price on Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Stock Performance

BAC stock opened at $62.64 on Friday. The firm has a market cap of $438.03 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.01 and a beta of 1.15. The firm has a 50-day simple moving average of $61.64 and a two-hundred day simple moving average of $55.21. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. 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 (NYSE:BAC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, equities analysts forecast that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company 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 $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.0%. This is a positive change from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America's payout ratio is 25.69%.

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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