177,313 Shares in Bank of America Corporation $BAC Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 177,313 shares of the financial services provider’s stock, valued at approximately $10,103,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Bank of America during the fourth quarter worth $4,774,210,000. Legal & General Group Plc acquired a new position in shares of Bank of America during the second quarter valued at $2,571,060,000. Capital International Investors bought a new position in Bank of America in the fourth quarter valued at about $2,357,461,000. Deutsche Bank AG bought a new position in Bank of America in the second quarter valued at about $2,359,172,000. Finally, Bank of New York Mellon Corp acquired a new stake in Bank of America in the second quarter worth about $2,313,953,000. 70.71% of the stock is currently owned by institutional investors.

Key Bank of America News

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.

Bank of America Trading Down 1.7%

NYSE:BAC opened at $61.17 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The firm has a market capitalization of $427.73 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17. The business’s 50-day moving average price is $61.06 and its two-hundred day moving average price is $54.86.

Bank of America (NYSE:BAC) last posted 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 company had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. On average, equities analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio is presently 25.69%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada lifted 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. Citigroup boosted their price target 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. Robert W. Baird increased their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of America from $67.00 to $69.00 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

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.