Polymer Capital Management HK LTD Purchases New Position in Bank of America Corporation $BAC

Key Points

• Polymer Capital Management HK Ltd. acquired 126,344 Bank of America shares worth approximately $7.2 million during the second quarter. Institutional investors collectively own 70.71% of BAC’s outstanding stock.
• Bank of America reported quarterly earnings of $1.21 per share, exceeding estimates by $0.08, 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, yielding about 2.1% annually.
• Analysts maintain a generally positive outlook, with 21 Buy ratings and six Holds; the consensus price target is $64.08 versus the stock’s reported price of $62.26. A potential $40 billion share-repurchase authorization could further support earnings per share.

Polymer Capital Management HK LTD purchased a new stake in Bank of America Corporation (NYSE:BAC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 126,344 shares of the financial services provider's stock, valued at approximately $7,199,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Norges Bank acquired a new position in shares of Bank of America in the 4th quarter valued at $4,774,210,000. Capital International Investors acquired a new stake in Bank of America during the 4th quarter worth $2,357,461,000. Deutsche Bank AG purchased a new stake in Bank of America in the second quarter valued at $2,359,172,000. Bank of New York Mellon Corp purchased a new stake in Bank of America in the second quarter valued at $2,313,953,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 acquiring an additional 40,235,201 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Down 0.3%

NYSE BAC opened at $62.26 on Thursday. The firm's fifty day moving average is $60.96 and its two-hundred day moving average is $54.83. 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. The firm has a market cap of $435.37 billion, a PE ratio of 14.28, a P/E/G ratio of 1.00 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 for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $31.56 billion during 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 business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Analysts expect that Bank of America Corporation will post 4.68 earnings per share 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. Shareholders of record on Friday, September 4th will be given a dividend of $0.32 per share. 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. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is 25.69%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s approximately $40 billion share-repurchase authorization could retire as much as 11% of outstanding shares, potentially supporting earnings per share and providing a valuation floor. The buyback is particularly notable following the company’s recent earnings beat and 19.6% year-over-year revenue growth. Bank of America stock information
• Positive Sentiment: Bank of America analysts continue to influence investor views on artificial intelligence, semiconductors and global markets. Positive calls on Nvidia and SK Hynix reinforce the bank’s research franchise and could support investment-banking and trading activity, although these reports do not directly change BAC’s fundamentals. BofA analyst Nvidia outlook
• Neutral Sentiment: The bank issued several senior unsecured medium-term notes in August, including bonds maturing from 2029 through 2046. The issuance adds funding and liquidity but also increases interest expense and leverage, making the net shareholder impact dependent on how the proceeds are used. Bank of America debt issuance and AI research
• Negative Sentiment: SEC subpoenas involving major prime brokers, including Bank of America, create a regulatory overhang. The investigation focuses on leverage and risk controls tied to a heavily leveraged hedge fund; while immediate solvency risk appears limited, tighter margin rules could reduce trading activity and raise compliance costs. SEC subpoena and banking-sector liquidity analysis
• Negative Sentiment: Bank of America expects to spend at least $250 million annually on GLP-1 weight-loss drugs for employees. Management views the benefit as worthwhile, but the expense could pressure operating costs and margins. Bank of America employee GLP-1 spending

Analysts Set New Price Targets

BAC has been the topic of several research reports. Truist Financial raised their price objective on Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on Bank of America from $62.50 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Oppenheimer downgraded Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Citigroup lifted their price target on Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, Argus set a $70.00 price objective on Bank of America in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Company 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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