Meiji Yasuda Asset Management Co Ltd. Invests $2.11 Million in Bank of America Corporation $BAC

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 36,987 shares of the financial services provider’s stock, valued at approximately $2,108,000.

Several other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its position in shares of Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after buying an additional 1,603,080 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in Bank of America during the second quarter worth about $4,089,000. Bernicke Wealth Management Ltd. bought a new position in shares of Bank of America in the second quarter worth about $2,132,000. Legal & General Group Plc boosted its stake in shares of Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock valued at $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. Finally, Mondrian Investment Partners LTD grew its holdings in shares of Bank of America by 34.3% during the 4th quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock valued at $119,647,000 after purchasing an additional 555,063 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $62.26 on Thursday. The business has a 50-day moving average price of $60.96 and a two-hundred day moving average price of $54.83. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market cap of $435.37 billion, a P/E ratio of 14.28, a PEG ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. The company 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%.The firm’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 company earned $0.89 EPS. As a group, analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Bank of America News Summary

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

Several brokerages have recently issued reports on BAC. Truist Financial upped 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. Evercore set a $63.00 target price on Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley increased their price objective on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Wells Fargo & Company lifted their target price on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.