108,548 Shares in Bank of America Corporation $BAC Bought by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) during the second quarter, HoldingsChannel reports. The fund acquired 108,548 shares of the financial services provider’s stock, valued at approximately $6,185,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BAC. Handelsbanken Fonder AB lifted its stake in shares of Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after purchasing an additional 1,603,080 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Bank of America in the second quarter worth $4,089,000. Bernicke Wealth Management Ltd. purchased a new stake in Bank of America in the second quarter worth $2,132,000. Legal & General Group Plc raised its holdings in Bank of America by 3.4% in the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. Finally, Mondrian Investment Partners LTD raised its holdings in Bank of America by 34.3% in the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock worth $119,647,000 after purchasing an additional 555,063 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAC shares. Morgan Stanley boosted their price objective on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Bank of America in a report on Tuesday, July 14th. Evercore set a $63.00 price target on Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. Wells Fargo & Company upped their price target on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Twenty-one research 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 an average rating of “Moderate Buy” and a consensus price target of $64.08.

More Bank of America News

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

Bank of America Trading Down 0.3%

Shares of BAC stock opened at $62.26 on Thursday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month 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 firm’s 50 day moving average is $60.96 and its 200 day moving average is $54.83. The stock has a market capitalization of $435.37 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.89 earnings per share. Bank of America’s revenue was up 19.6% on a year-over-year basis. Research analysts expect that Bank of America Corporation will post 4.68 earnings per share 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. Investors of record on Friday, September 4th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a yield of 2.1%. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is currently 25.69%.

Bank of America Company 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.