28,935 Shares in Bank of America Corporation $BAC Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, HoldingsChannel reports. The institutional investor acquired 28,935 shares of the financial services provider’s stock, valued at approximately $1,649,000.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Bank of America in the fourth quarter worth $4,774,210,000. Capital International Investors purchased a new position in shares of Bank of America in the 4th quarter worth about $2,357,461,000. Deutsche Bank AG purchased a new position in shares of Bank of America in the 2nd quarter worth about $2,359,172,000. Bank of New York Mellon Corp bought a new position in Bank of America in the 2nd quarter worth about $2,313,953,000. 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 in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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 Stock Performance

Shares of BAC stock opened at $62.26 on Thursday. The company has a 50 day moving average price of $60.96 and a 200-day moving average price of $54.83. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The firm has a market capitalization of $435.37 billion, a PE ratio of 14.28, a P/E/G ratio of 1.00 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last issued its quarterly earnings data 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 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 the consensus estimate of $30.78 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities 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 business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is a boost 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 Analysts Forecast Growth

A number of research firms have weighed in on BAC. Truist Financial raised their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Robert W. Baird boosted their price objective on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Royal Bank Of Canada upped their price objective on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Barclays increased their target price on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.