25,282 Shares in Bank of America Corporation $BAC Bought by Maloon Powers Pitre Higgins & Dennehy LLC

Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in Bank of America Corporation (NYSE:BAC) during the 2nd quarter, Holdings Channel reports. The fund acquired 25,282 shares of the financial services provider’s stock, valued at approximately $1,441,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock worth $3,108,000 after buying an additional 18,227 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in Bank of America in the 2nd quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP lifted its stake in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC stock opened at $62.64 on Friday. The company has a fifty day moving average price of $61.64 and a two-hundred day moving average price of $55.21. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The stock has a market cap of $438.03 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.01 and a beta of 1.15. 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 (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $30.78 billion. During the same period in the previous year, the business earned $0.89 EPS. Bank of America’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.32 dividend. 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s payout ratio is 25.69%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial upped their price target on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Argus set a $70.00 price target on shares of Bank of America in a research note on Wednesday, July 15th. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Bank of America in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price objective on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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

About Bank of America

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.