65,917 Bank of America Corporation $BAC Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in Bank of America Corporation (NYSE:BAC) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,085,801 shares of the financial services provider’s stock after buying an additional 65,917 shares during the quarter. Bank of America comprises 0.3% of Nisa Investment Advisors LLC’s holdings, making the stock its 27th largest holding. Nisa Investment Advisors LLC’s holdings in Bank of America were worth $113,530,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bamco Inc. NY lifted its position in Bank of America by 45.4% during the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider’s stock valued at $2,336,000 after acquiring an additional 12,794 shares during the period. E Fund Management Co. Ltd. bought a new stake in Bank of America during the second quarter worth about $4,089,000. Bernicke Wealth Management Ltd. bought a new stake in Bank of America during the second quarter worth about $2,132,000. Aspiriant LLC grew its holdings in Bank of America by 34.3% in the third quarter. Aspiriant LLC now owns 48,877 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 12,479 shares during the period. Finally, Legacy Private Trust Co. grew its holdings in Bank of America by 11.7% in the third quarter. Legacy Private Trust Co. now owns 115,136 shares of the financial services provider’s stock worth $6,267,000 after purchasing an additional 12,016 shares during the period. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BAC has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Bank of America from $66.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, October 15th. Jefferies Financial Group dropped their price target on Bank of America from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Rothschild & Co Redburn set a $72.00 price target on Bank of America in a research note on Tuesday, October 6th. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, UBS Group reduced their price objective on Bank of America from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Twenty research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.82.

Bank of America Stock Up 0.4%

NYSE:BAC opened at $50.59 on Wednesday. The firm has a market cap of $353.77 billion, a P/E ratio of 12.02, a P/E/G ratio of 0.86 and a beta of 1.21. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.82 and a current ratio of 0.82. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The firm has a 50-day simple moving average of $58.52 and a two-hundred day simple moving average of $56.77.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, October 14th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.02). The firm had revenue of $29.96 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Bank of America had a return on equity of 12.15% and a net margin of 16.80%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. Analysts predict that Bank of America Corporation will post 4.54 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, September 4th. Bank of America’s payout ratio is 30.40%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America’s second-quarter average loans rose 8% year over year while deposits increased 2%. Despite the uneven growth, net interest income climbed 9%, suggesting the bank is generating stronger returns from its deposit base and lending franchise. Bank of America Deposit Franchise Article
• Positive Sentiment: Bank of America was upgraded to a Buy rating by JLPascual. Other recent commentary indicated that the previously announced regulatory fine and earnings-related weakness may already be reflected in the stock, supporting the potential for a recovery. Bank of America Buy Upgrade
• Neutral Sentiment: The bank launched another investment-grade bond offering, including perpetual notes, shortly after raising $8 billion. The issuance may strengthen funding and capital flexibility, although it also adds financing costs and highlights continued reliance on wholesale markets. Bank of America Bond Sale
• Neutral Sentiment: Bank of America disclosed higher indirect stakes in Qiagen, ICU Girişim Sermayesi and Link Bilgisayar. These appear to be investment or regulatory ownership disclosures rather than changes to the core banking business. Qiagen Stake Disclosure
• Negative Sentiment: Multiple law firms announced or promoted securities-fraud investigations and class actions tied to alleged investor misstatements concerning anti-money-laundering and sanctions-compliance failures. The litigation follows more than $1.2 billion in federal penalties and creates potential legal costs and reputational damage. BAC Securities Class Action Alert
• Negative Sentiment: The latest reported quarter missed consensus estimates on both earnings and revenue, while broad bank stocks remain under pressure from rising Treasury yields and uncertainty over Federal Reserve policy. Bank Stocks Under Pressure

About Bank of America

Bank of America Corporation (NYSE: BAC) is a diversified financial services company headquartered in Charlotte, North Carolina. It provides banking, lending, investment, payments and financial management services to consumers, businesses, institutional investors and governments.

The company’s consumer banking operations offer checking and savings accounts, credit cards, mortgages, home equity lending, auto loans and other consumer financial products. Through Merrill, Bank of America provides wealth management, investment advisory, brokerage and retirement services.