OMERS ADMINISTRATION Corp Has $242.49 Million Position in Bank of America Corporation $BAC

Key Points

• OMERS Administration Corp increased its Bank of America stake by 2.4% in the first quarter, buying 117,037 additional shares. The fund now holds 4,974,157 shares worth about $242.49 million, making BAC its 9th largest position.
• Bank of America reported Q2 earnings of $1.21 per share, topping Wall Street estimates, while revenue rose 19.6% year over year. Analysts now expect the bank to earn 4.65 EPS for the full year.
• The company also raised its quarterly dividend to $0.32 per share from $0.28, lifting the annualized payout to $1.28 and the yield to about 2.1%. The increase signals continued shareholder returns and strong capital generation.

OMERS ADMINISTRATION Corp increased its position in shares of Bank of America Corporation (NYSE:BAC) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,974,157 shares of the financial services provider's stock after buying an additional 117,037 shares during the quarter. Bank of America comprises about 1.6% of OMERS ADMINISTRATION Corp's portfolio, making the stock its 9th biggest position. OMERS ADMINISTRATION Corp owned approximately 0.07% of Bank of America worth $242,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Vanguard Group Inc. increased its holdings in shares of Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares in the last quarter. Norges Bank bought a new position in shares of Bank of America in the 4th quarter worth $4,774,210,000. Bank of New York Mellon Corp grew its position in Bank of America by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider's stock valued at $3,169,062,000 after purchasing an additional 2,929,779 shares during the period. Fisher Asset Management LLC grew its position in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider's stock valued at $2,958,110,000 after purchasing an additional 1,105,833 shares during the period. Finally, Deutsche Bank AG increased its stake in Bank of America by 5.9% during the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider's stock valued at $2,594,488,000 after purchasing an additional 2,611,776 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $62.00 on Friday. The business's fifty day simple moving average is $56.42 and its 200 day simple moving average is $53.36. 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 $44.75 and a 12 month high of $62.28. The firm has a market capitalization of $439.96 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. As a group, analysts anticipate that Bank of America Corporation will post 4.65 EPS for the current 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 represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio is 25.69%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BAC. Wells Fargo & Company upped their price objective on shares of Bank of America from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Citigroup boosted 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 report on Tuesday, June 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a report on Tuesday. Oppenheimer cut shares of Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley lifted their price target on Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average price target of $63.77.

More Bank of America News

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA's famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

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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