William John Sempolinski Acquires New Shares in Bank of America Corporation $BAC

Key Points

• William John Sempolinski acquired 16,030 Bank of America shares during the second quarter, valued at approximately $913,000. Other institutional investors also initiated positions, while institutional ownership reached 70.71%.
• 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 to $0.32 per share, equivalent to a $1.28 annualized payout and a 2.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $64.08.

William John Sempolinski bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,030 shares of the financial services provider's stock, valued at approximately $913,000.

A number of other institutional investors have also added to or reduced their stakes in BAC. MW Advisory LLC purchased a new stake in Bank of America during the second quarter worth $504,000. Maloon Powers Pitre Higgins & Dennehy LLC purchased a new position in Bank of America in the second quarter valued at about $1,441,000. Markowski Investments purchased a new position in Bank of America in the second quarter valued at about $175,000. Old Mission Investment Co LLC bought a new position in Bank of America in the second quarter worth about $2,622,000. Finally, Montgomery Financial Services LLC bought a new position in Bank of America in the second quarter worth about $98,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America News Summary

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 Stock Down 0.6%

BAC stock opened at $62.64 on Friday. The stock has a market capitalization of $438.03 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.01 and a beta of 1.15. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average of $61.64 and a 200 day moving average of $55.21.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly 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 business 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%. Bank of America's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. Sell-side analysts forecast that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. 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 currently 25.69%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BAC shares. Citigroup raised their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Barclays increased their target price on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, July 21st. Finally, Truist Financial lifted their price target on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.08.

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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