Synergy Asset Management LLC Grows Position in Bank of America Corporation $BAC

Synergy Asset Management LLC raised its holdings in Bank of America Corporation (NYSE:BAC) by 1,817.6% in the second quarter, Holdings Channel.com reports. The fund owned 511,749 shares of the financial services provider’s stock after buying an additional 485,062 shares during the quarter. Bank of America makes up 2.7% of Synergy Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Synergy Asset Management LLC’s holdings in Bank of America were worth $29,159,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Abound Financial LLC purchased a new stake in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America in the third quarter valued at about $27,000. CrossGen Wealth LLC purchased a new position in Bank of America in the fourth quarter valued at about $30,000. Joseph Group Capital Management acquired a new stake in shares of Bank of America during the 4th quarter valued at approximately $32,000. Finally, Vermillion Wealth Management Inc. lifted its position in shares of Bank of America by 199.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 438 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 0.6%

Shares of NYSE:BAC opened at $64.45 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $450.72 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.20. The stock’s fifty day simple moving average is $59.77 and its 200-day simple moving average is $54.30.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 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 firm had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter last year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of America Corporation will post 4.68 earnings per share 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. Shareholders of record on Friday, September 4th will be paid 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 dividend yield of 2.0%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio is 25.69%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAC. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Robert W. Baird lifted their price objective on Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Daiwa Securities Group boosted their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. UBS Group upped their target price on Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Citigroup upped their target price on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

More Bank of America News

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

• Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
• Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
• Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
• Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.

Bank of America Company 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.