Tudor Financial Inc. Boosts Stake in Bank of America Corporation $BAC

Key Points

• Tudor Financial increased its Bank of America stake by 663.7% in the second quarter, ending with 20,848 shares valued at approximately $1.19 million. Institutional investors collectively own 70.71% of BAC.
• 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. Shares were trading near $63, close to their 12-month high of $65.22.
• The bank raised its quarterly dividend to $0.32 per share, or $1.28 annually, representing a 2.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $64.08.

Tudor Financial Inc. increased its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 663.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,848 shares of the financial services provider's stock after purchasing an additional 18,118 shares during the quarter. Tudor Financial Inc.'s holdings in Bank of America were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Turim 21 Investimentos Ltda. purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $25,000. Abound Financial LLC purchased a new position in shares of Bank of America during the 4th quarter worth about $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter worth approximately $27,000. CrossGen Wealth LLC purchased a new position in shares of Bank of America in the 4th quarter worth $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Bank of America in the second quarter valued at $34,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of BAC stock opened at $63.07 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 fifty day moving average price is $61.55 and its two-hundred day moving average price is $55.15. The firm has a market capitalization of $441.03 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend 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 presently 25.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore set a $63.00 price target on Bank of America and gave the stock an "outperform" rating in a research note on Monday, July 6th. Barclays raised 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. Wells Fargo & Company lifted their price target on shares of Bank of America from $67.00 to $69.00 and gave the company an "overweight" rating in a research 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 research note on Wednesday, July 15th. Finally, Truist Financial increased their price objective on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America News Summary

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

• Positive Sentiment: Stablecoin initiative could create a new growth opportunity. Bank of America joined 20 other financial institutions planning a company to issue a U.S. dollar stablecoin in 2027. The project could expand the bank’s role in digital payments, blockchain-based liquidity and institutional settlement, although regulatory and execution details remain important. Bank of America and Citi Join 21-Firm USD Stablecoin Plan
• Positive Sentiment: Bank stocks are attracting capital. Investors are shifting toward major banks amid expectations of rising rates and concerns about elevated artificial-intelligence valuations. Higher rates can support net interest income, while BAC’s scale and diversified businesses may benefit from stronger financial-sector flows. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: Options activity and analyst sentiment are constructive. Call-option volume was reported at roughly 363,000 contracts, 172% above typical levels, while brokerages assigned BAC a consensus “Moderate Buy” rating. A valuation analysis also suggested the shares could be undervalued, supporting the bullish case. Bank of America Corporation Given Consensus Recommendation of Moderate Buy

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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