SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co Makes New Investment in Bank of America Corporation $BAC

Key Points

• Shepherd Wealth Management acquired 8,058 Bank of America shares worth approximately $459,000 in the second quarter. Institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion.
• The company increased its quarterly dividend from $0.28 to $0.32 per share. Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $64.08.

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 8,058 shares of the financial services provider's stock, valued at approximately $459,000. Bank of America makes up about 0.2% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings, making the stock its 26th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of BAC. Principia Wealth Advisory LLC lifted its holdings in shares of Bank of America by 69.9% in the second quarter. Principia Wealth Advisory LLC now owns 530 shares of the financial services provider's stock worth $30,000 after buying an additional 218 shares in the last quarter. Wellington Grp LLC grew its stake in Bank of America by 46.7% during the second quarter. Wellington Grp LLC now owns 17,488 shares of the financial services provider's stock valued at $996,000 after acquiring an additional 5,570 shares in the last quarter. HighTower Advisors LLC grew its stake in Bank of America by 5.5% during the second quarter. HighTower Advisors LLC now owns 6,935,356 shares of the financial services provider's stock valued at $395,177,000 after acquiring an additional 361,243 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Bank of America in the 2nd quarter valued at $50,175,000. Finally, California State Teachers Retirement System lifted its stake in Bank of America by 5,515.7% in the 2nd quarter. California State Teachers Retirement System now owns 586,149,556 shares of the financial services provider's stock worth $33,398,802,000 after purchasing an additional 575,711,933 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.1%

Shares of BAC opened at $62.64 on Monday. The company's fifty day simple moving average is $61.64 and its 200-day simple moving average is $55.22. The company has a market cap of $438.03 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.00 and a beta of 1.15. 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 twelve month low of $46.12 and a twelve month high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. As a group, analysts expect that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a positive change from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America's payout ratio is currently 29.36%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Keefe, Bruyette & Woods increased 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. Argus set a $70.00 target price on Bank of America in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on Bank of America from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and a consensus price target of $64.08.

Trending Headlines about Bank of America

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

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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