Barrow Hanley Mewhinney & Strauss LLC Takes Position in Bank of America Corporation $BAC

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,173,605 shares of the financial services provider’s stock, valued at approximately $579,692,000. Bank of America comprises 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other large investors have also recently bought and sold shares of the business. Turim 21 Investimentos Ltda. bought a new position in Bank of America during the second quarter valued at about $25,000. Abound Financial LLC bought a new stake in shares of Bank of America during the 4th quarter worth about $26,000. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the 3rd quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America in the 4th quarter valued at approximately $30,000. Finally, Joseph Group Capital Management bought a new position in shares of Bank of America in the 4th quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of NYSE:BAC opened at $62.26 on Thursday. The company has a market cap of $435.37 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.00 and a beta of 1.17. The business has a 50 day moving average price of $60.96 and a 200 day moving average price of $54.83. The company has a quick ratio of 0.82, a current ratio of 0.83 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) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate 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 company had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the previous year, the business posted $0.89 EPS. The company’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 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The business 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 dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s payout ratio is presently 25.69%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s approximately $40 billion share-repurchase authorization could retire as much as 11% of outstanding shares, potentially supporting earnings per share and providing a valuation floor. The buyback is particularly notable following the company’s recent earnings beat and 19.6% year-over-year revenue growth. Bank of America stock information
• Positive Sentiment: Bank of America analysts continue to influence investor views on artificial intelligence, semiconductors and global markets. Positive calls on Nvidia and SK Hynix reinforce the bank’s research franchise and could support investment-banking and trading activity, although these reports do not directly change BAC’s fundamentals. BofA analyst Nvidia outlook
• Neutral Sentiment: The bank issued several senior unsecured medium-term notes in August, including bonds maturing from 2029 through 2046. The issuance adds funding and liquidity but also increases interest expense and leverage, making the net shareholder impact dependent on how the proceeds are used. Bank of America debt issuance and AI research
• Negative Sentiment: SEC subpoenas involving major prime brokers, including Bank of America, create a regulatory overhang. The investigation focuses on leverage and risk controls tied to a heavily leveraged hedge fund; while immediate solvency risk appears limited, tighter margin rules could reduce trading activity and raise compliance costs. SEC subpoena and banking-sector liquidity analysis
• Negative Sentiment: Bank of America expects to spend at least $250 million annually on GLP-1 weight-loss drugs for employees. Management views the benefit as worthwhile, but the expense could pressure operating costs and margins. Bank of America employee GLP-1 spending

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Truist Financial lifted their price target on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Argus set a $70.00 price objective on shares of Bank of America in a report on Wednesday, July 15th. Finally, Oppenheimer lowered shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America 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.