11,846 Shares in Bank of America Corporation $BAC Purchased by Kelly Lawrence W & Associates Inc. CA

Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,846 shares of the financial services provider’s stock, valued at approximately $675,000.

A number of other large investors have also recently modified their holdings of BAC. Turim 21 Investimentos Ltda. bought a new position in shares of Bank of America during the 2nd quarter worth $25,000. Abound Financial LLC purchased a new position in shares of Bank of America during the fourth quarter valued at $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the third quarter valued at about $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America in the fourth quarter worth about $30,000. Finally, Joseph Group Capital Management bought a new position in Bank of America during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC opened at $61.17 on Friday. The company has a 50 day moving average of $61.06 and a two-hundred day moving average of $54.86. 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 Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The company has a market cap of $427.73 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping 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 business had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 dividend payout ratio is currently 25.69%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of Bank of America in a research report on Tuesday, July 14th. Royal Bank Of Canada upped their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Citigroup boosted their price objective on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America’s AI initiatives, including branch expansion and automation, may improve operating efficiency and customer service over time. However, continued expense growth could limit the near-term benefit. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: BofA Securities continues to demonstrate a constructive view on major growth and technology markets, reiterating Buy ratings on Alibaba, Nvidia, Prudential and Elbit Systems. The activity supports the visibility of BAC’s investment-banking and research franchise, although it has limited direct impact on earnings. Alibaba Raises $10 Billion for AI — Why BofA Is Looking Past the Dilution
• Neutral Sentiment: Bank of America issued several senior unsecured notes in August, with maturities extending from 2029 to 2046. The issuance supports liquidity and funding flexibility, but adds to interest obligations and offers no immediate change to the company’s earnings outlook. What Bank of America (BAC)’s New Debt Issuance and AI Credit Research Push Means For Shareholders
• Negative Sentiment: The SEC reportedly subpoenaed Bank of America, Goldman Sachs, JPMorgan and Citigroup regarding margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The investigation raises potential legal, compliance and credit-loss risks, particularly if leveraged clients cannot meet obligations. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: Persistent operating-cost pressure remains a concern for BAC investors. While AI and branch expansion could boost productivity, elevated expenses may weigh on margins and reduce the benefit of the bank’s recent revenue growth.

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.