10,173,605 Shares in Bank of America Corporation $BAC Bought by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,173,605 shares of the financial services provider’s stock, valued at approximately $579,692,000. Bank of America accounts for about 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 15th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.15% of Bank of America at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Bank of America during the fourth quarter valued at about $4,774,210,000. Bank of New York Mellon Corp increased its position in shares of Bank of America by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after acquiring an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Bank of America by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after acquiring an additional 1,105,833 shares during the period. Deutsche Bank AG lifted its position in shares of Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock valued at $2,594,488,000 after acquiring an additional 2,611,776 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC opened at $62.26 on Thursday. The stock has a market cap of $435.37 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.00 and a beta of 1.17. 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 stock has a fifty day moving average price of $60.96 and a 200 day moving average price of $54.83.

Bank of America (NYSE:BAC) last issued its 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. 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 analyst estimates of $30.78 billion. During the same period in the prior year, the firm posted $0.89 EPS. The business’s revenue was up 19.6% compared to the same quarter last year. Analysts forecast that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. 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. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BAC. Royal Bank Of Canada boosted their target price on shares of Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Wells Fargo & Company upped their price target on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley increased their price objective on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Finally, Robert W. Baird raised their price objective on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Key Stories Impacting Bank of America

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 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.