Safeguard Investment Advisory Group LLC Makes New $2.16 Million Investment in Bank of America Corporation $BAC

Key Points

• Safeguard Investment Advisory Group initiated a $2.16 million Bank of America position by purchasing 37,953 shares, while institutional investors collectively own 70.71% of BAC.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $64.08; recent targets range from $63 to $70.
• Bank of America beat quarterly earnings and revenue expectations, with EPS of $1.21 and revenue up 19.6% year over year. The bank also raised its quarterly dividend to $0.32 per share, implying a 2.1% yield.

Safeguard Investment Advisory Group LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,953 shares of the financial services provider's stock, valued at approximately $2,162,000. Bank of America accounts for approximately 0.5% of Safeguard Investment Advisory Group LLC's portfolio, making the stock its 22nd biggest holding.

Several other large investors also recently modified their holdings of the stock. Ally Financial Inc. acquired a new stake in shares of Bank of America during the 2nd quarter worth $5,698,000. Infrastructure Capital Advisors LLC acquired a new position in Bank of America in the second quarter valued at about $6,185,000. Cibc World Market Inc. bought a new stake in Bank of America during the second quarter worth about $190,964,000. Satovsky Asset Management LLC acquired a new stake in Bank of America during the second quarter worth about $247,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Bank of America during the second quarter worth about $112,447,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Argus set a $70.00 price target on shares of Bank of America in a research report on Wednesday, July 15th. Evercore set a $63.00 price objective on shares of Bank of America and gave the company an "outperform" rating in a research note on Monday, July 6th. Truist Financial boosted their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their target price on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating 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's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.08.

Bank of America Stock Down 0.3%

BAC stock opened at $62.26 on Thursday. The stock has a market capitalization of $435.37 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. 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 $65.22. The firm has a 50-day moving average price of $60.96 and a 200-day moving average price of $54.83.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm's revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.32 dividend. 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 is Friday, September 4th. Bank of America's dividend payout ratio (DPR) is 25.69%.

Key Headlines Impacting Bank of America

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

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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