Thomasville National Bank Makes New Investment in Bank of America Corporation $BAC

Key Points

• Thomasville National Bank acquired 61,865 Bank of America shares in the second quarter, valued at approximately $3.5 million. Institutional investors collectively own 70.71% of BAC’s outstanding stock.
• Bank of America reported quarterly EPS of $1.21, exceeding the $1.13 consensus estimate, while revenue rose 19.6% year over year to $31.56 billion. The bank also increased its quarterly dividend from $0.28 to $0.32 per share, implying a 2.0% annual yield.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $64.08 price target. Strategic initiatives include a potential $1.9 billion investment for up to 49.9% of India’s Jio Credit and a $250 billion U.S. infrastructure financing program, though both carry execution and regulatory risks.

Thomasville National Bank bought a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,865 shares of the financial services provider's stock, valued at approximately $3,525,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BAC. Abound Financial LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America in the 3rd quarter valued at $27,000. CrossGen Wealth LLC purchased a new position in Bank of America during the 4th quarter worth $30,000. Joseph Group Capital Management purchased a new stake in shares of Bank of America in the fourth quarter valued at about $32,000. Finally, Vermillion Wealth Management Inc. raised its holdings in Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider's stock worth $32,000 after purchasing an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America agreed to invest up to approximately $1.9 billion for a 49.9% stake in Jio Credit, the lending subsidiary of India’s Jio Financial Services. The partnership gives BAC access to Jio’s digital distribution network and exposure to India’s expanding consumer-credit market; the initial investment is expected to provide a 26.5% stake, with warrants potentially increasing ownership. BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit
• Positive Sentiment: BAC launched an 18-month initiative to mobilize and deploy $250 billion toward U.S. digital, energy, power and core infrastructure projects. The program could generate lending, investment, capital-markets and advisory revenue, particularly from data-center and AI-related construction. Bank of America launches $250 billion initiative for US tech, energy infrastructure
• Positive Sentiment: An analyst raised Bank of America’s fiscal 2026 EPS estimate, adding to the view that earnings momentum remains favorable. The bank previously reported quarterly EPS of $1.21, above the $1.13 consensus, with revenue up 19.6% year over year. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Neutral Sentiment: Firm interest rates remain a key focus. Higher rates can support net-interest income, but continued or additional Federal Reserve tightening could pressure credit demand, bond portfolios and the broader economy. BofA Exec Still Calls For 3 Fed Hikes After July CPI
• Negative Sentiment: The Jio transaction requires substantial capital and regulatory approvals, while the benefits from building the Indian lending platform will take time to materialize. Investors may therefore be balancing long-term growth potential against near-term execution and return-on-investment uncertainty. Bank of America Jio Credit joint venture announcement

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BAC shares. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Barclays increased their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. The Goldman Sachs Group increased their target price on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, UBS Group boosted their price target on Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Stock Down 0.9%

BAC stock opened at $64.21 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The company's 50 day simple moving average is $59.56 and its 200-day simple moving average is $54.23. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.20. The firm has a market capitalization of $449.03 billion, a PE ratio of 14.73, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results 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 $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America's revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Equities analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current fiscal 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 given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. This is a boost from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio (DPR) is 25.69%.

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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