Hilltop Holdings Inc. Grows Stock Position in Bank of America Corporation $BAC

Hilltop Holdings Inc. grew its holdings in Bank of America Corporation (NYSE:BAC) by 51.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 38,237 shares of the financial services provider’s stock after buying an additional 12,957 shares during the period. Hilltop Holdings Inc.’s holdings in Bank of America were worth $1,864,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Abound Financial LLC purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $26,000. Legacy Bridge LLC boosted its stake in Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. Wiser Advisor Group LLC purchased a new stake in Bank of America during the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America during the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Stock Up 1.2%

BAC stock opened at $62.00 on Friday. The company has a market capitalization of $439.96 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.28. The firm’s fifty day simple moving average is $56.42 and its 200-day simple moving average is $53.36. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities research analysts forecast that Bank of America Corporation will post 4.65 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.32 per share. 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 an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is 25.69%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Barclays boosted their price objective on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on Bank of America from $57.50 to $62.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, 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. Twenty-one investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the transaction, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

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.