YHB Investment Advisors Inc. Buys 82,170 Shares of Bank of America Corporation $BAC

Key Points

• YHB Investment Advisors increased its Bank of America stake by 580.8% in the third quarter, acquiring 82,170 additional shares and bringing its holdings to 96,317 shares valued at approximately $5.24 million.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 70.71% of BAC shares; several other investment firms also increased their positions during the quarter.
• Bank of America shares recently fell 0.9% to $53.04, while analysts maintain a “Moderate Buy” consensus and an average price target of $64.22. The company also raised its quarterly dividend to $0.32, implying a 2.4% annual yield.

YHB Investment Advisors Inc. raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 580.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,317 shares of the financial services provider's stock after acquiring an additional 82,170 shares during the period. YHB Investment Advisors Inc.'s holdings in Bank of America were worth $5,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Titleist Asset Management LLC lifted its holdings in Bank of America by 13.7% during the 3rd quarter. Titleist Asset Management LLC now owns 32,853 shares of the financial services provider's stock worth $1,788,000 after buying an additional 3,956 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of Bank of America by 33.2% in the third quarter. Everhart Financial Group Inc. now owns 58,605 shares of the financial services provider's stock worth $3,190,000 after acquiring an additional 14,594 shares in the last quarter. Gradient Investments LLC increased its position in shares of Bank of America by 10.8% during the third quarter. Gradient Investments LLC now owns 784,317 shares of the financial services provider's stock worth $42,690,000 after acquiring an additional 76,481 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of Bank of America by 21.2% during the third quarter. Avidian Wealth Enterprises LLC now owns 116,705 shares of the financial services provider's stock worth $6,352,000 after acquiring an additional 20,385 shares during the period. Finally, Veracity Capital LLC raised its stake in shares of Bank of America by 39.5% in the third quarter. Veracity Capital LLC now owns 9,775 shares of the financial services provider's stock valued at $532,000 after acquiring an additional 2,766 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Key Bank of America News

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

• Positive Sentiment: Analysts see potential net-interest-income upside. A recent rating upgrade argues that a Federal Reserve policy shift could improve Bank of America’s net interest income, supporting earnings prospects. Bank of America: Fed Policy Shift Creates NII Upside
• Positive Sentiment: UBS maintained its buy rating. Continued bullish coverage provides support for the stock, although the current market reaction suggests investors remain focused on near-term rate and earnings risks. UBS Keeps Their Buy Rating on Bank of America
• Positive Sentiment: TD Cowen began coverage with a $60 price target. Although its rating is “hold,” the target implies meaningful upside from recent trading levels and indicates valuation support.
• Positive Sentiment: Bank of America continues investing in technology and artificial intelligence. Management described efforts to use AI to personalize customer experiences and improve banking operations, which could support long-term efficiency and client growth. How Bank of America is using AI to reinvent the customer experience
• Neutral Sentiment: Investors are awaiting upcoming earnings. Bank of America is expected to report results Wednesday, making guidance on loan growth, deposit costs, trading revenue, and net interest income the next major catalyst. Bank of America Expected to Announce Earnings
• Neutral Sentiment: BofA raised its Marvell price target and highlighted strong demand for AI infrastructure, while also forecasting trillion-dollar Big Tech capital spending. These reports showcase BofA’s research franchise but could increase investor concern about stretched technology valuations and AI-spending returns. Marvell price target raised by Bank of America
• Neutral Sentiment: Bank of America increased its reported stake in Turkey’s ICU Venture Capital Trust to 3.6% and reduced its position in Gentas through Merrill Lynch. These appear to be portfolio or client-trading disclosures with limited direct earnings impact.
• Negative Sentiment: Merrill Lynch agreed to a $39 million cash-sweep settlement. The payment creates a regulatory and reputational overhang, even though the amount is modest relative to Bank of America’s size. Bank of America Agrees $39 Million Merrill Cash Sweep Settlement
• Negative Sentiment: Rate and market risks remain concerns. BofA strategists said bonds are competing more effectively with stocks as yields rise, while other strategists recommended hedging against a potential technology bubble. Higher yields and risk aversion can weigh on bank valuations and trading sentiment. BofA’s Subramanian says bonds in rare competition with stocks

Bank of America Stock Down 0.9%

Shares of NYSE BAC traded down $0.48 during midday trading on Thursday, hitting $53.04. 32,713,084 shares of the company's stock were exchanged, compared to its average volume of 37,106,617. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The company has a market cap of $370.90 billion, a PE ratio of 12.18, a P/E/G ratio of 0.87 and a beta of 1.21. The firm's fifty day simple moving average is $60.41 and its 200-day simple moving average is $56.49.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts predict that Bank of America Corporation will post 4.61 EPS for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio is presently 29.36%.

Analyst Ratings Changes

Several research analysts recently commented on BAC shares. Barclays boosted their target price on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. TD Cowen started coverage on Bank of America in a research note on Thursday. They issued a "hold" rating and a $60.00 price objective for the company. Morgan Stanley restated an "overweight" rating on shares of Bank of America in a research note on Tuesday, September 15th. Evercore set a $62.00 target price on shares of Bank of America in a report on Thursday, October 1st. Finally, Citigroup boosted their price target on shares of Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Bank of America Profile

Bank of America Corporation NYSE: BAC is a diversified financial services company serving individual consumers, small businesses, middle-market companies and large corporations. Its principal businesses include consumer banking, wealth and investment management, commercial banking, corporate and investment banking, and sales and trading.

Through its banking and financial services businesses, the company offers deposit accounts, credit cards, mortgages, home equity products, consumer and business loans, payment services, treasury management, brokerage services and investment advice.

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