OneAscent Family Office LLC Takes $666,000 Position in Bank of America Corporation $BAC

OneAscent Family Office LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,685 shares of the financial services provider’s stock, valued at approximately $666,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. bought a new stake in shares of Bank of America in the 2nd quarter valued at about $25,000. Abound Financial LLC bought a new position in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America during the third quarter worth approximately $27,000. CrossGen Wealth LLC bought a new stake in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in Bank of America in the fourth quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Price Performance

Bank of America stock opened at $62.35 on Tuesday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The stock’s 50 day moving average is $60.73 and its 200-day moving average is $54.73. 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 capitalization of $436.03 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last released its quarterly earnings results 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. The business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.89 EPS. Equities research analysts expect that Bank of America Corporation will post 4.68 EPS 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. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is an increase 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 2.1%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s payout ratio is 25.69%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Higher dividend income reinforces BAC’s appeal: Bank of America has increased its payout again, generating approximately $619 million in annual dividend income for Warren Buffett’s Berkshire Hathaway. The dividend growth supports the stock’s income-investment case and signals confidence in capital generation. Iconic bank stock pays Buffett’s Berkshire $619M in annual dividends
• Positive Sentiment: Preferred-share yields attract income investors: Analysis highlighting Bank of America preferred shares offering yields of roughly 6.6% may improve visibility for the company’s broader capital-return and income-investment story, though preferred securities do not directly increase common-stock earnings. Bank of America Offers Good Alternative To Treasuries
• Neutral Sentiment: Bank of America disclosed new strategic holdings: The company reported crossing a 10% stake in Lakefront Biotherapeutics and raising an indirect stake in Sanifoam above 5% under regulatory transparency rules. These disclosures appear to reflect investment or custody activity and are not expected to materially change BAC’s operating outlook. Bank of America Builds 10% Stake in Lakefront Biotherapeutics
• Neutral Sentiment: Market sentiment remains supportive: Bank of America’s fund-manager survey found rising equity optimism and cash allocations near historic lows. Stronger risk appetite could benefit banking activity and markets, but it also raises the possibility of positioning becoming crowded. Investor bullishness surges as BofA survey shows cash levels near historic lows
• Negative Sentiment: AI could widen consumer credit risks: Bank of America research suggests artificial intelligence is creating financial winners and losers and could eventually affect consumers’ access to credit. If weaker borrowers face increased pressure, the trend could pose longer-term risks to loan growth and credit quality. BofA finds AI is creating a credit divide

Wall Street Analysts Forecast Growth

BAC has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. UBS Group increased their price target on Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price target on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Finally, Daiwa Securities Group upped their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

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.