NEOS Investment Management LLC Raises Stock Holdings in Bank of America Corporation $BAC

NEOS Investment Management LLC boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 11.1% in the second quarter, HoldingsChannel.com reports. The fund owned 1,077,175 shares of the financial services provider’s stock after acquiring an additional 108,039 shares during the quarter. NEOS Investment Management LLC’s holdings in Bank of America were worth $61,377,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Greenspring Advisors LLC raised its position in Bank of America by 4.3% during the 2nd quarter. Greenspring Advisors LLC now owns 14,236 shares of the financial services provider’s stock worth $811,000 after buying an additional 593 shares during the last quarter. Aletheian Wealth Advisors LLC lifted its stake in Bank of America by 11.1% during the 2nd quarter. Aletheian Wealth Advisors LLC now owns 5,422 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 542 shares during the period. Paragon Private Wealth Management LLC boosted its holdings in shares of Bank of America by 9.3% in the 2nd quarter. Paragon Private Wealth Management LLC now owns 12,028 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 1,020 shares during the last quarter. Nykredit A S purchased a new stake in shares of Bank of America in the 2nd quarter valued at $94,447,000. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in shares of Bank of America by 10.2% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 757,641 shares of the financial services provider’s stock worth $43,170,000 after acquiring an additional 69,870 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports 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 report on Tuesday, July 14th. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Morgan Stanley lifted their price objective on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Evercore set a $63.00 price objective on Bank of America and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Citigroup upped their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research note 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Stock Performance

BAC opened at $63.07 on Friday. The firm has a fifty day moving average price of $61.55 and a 200 day moving average price of $55.15. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The stock has a market cap of $441.03 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.00 and a beta of 1.15. 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 released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $30.78 billion. During the same quarter last year, the business earned $0.89 earnings per share. The firm’s revenue was up 19.6% on a year-over-year basis. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. 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%.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Stablecoin initiative could create a new growth opportunity. Bank of America joined 20 other financial institutions planning a company to issue a U.S. dollar stablecoin in 2027. The project could expand the bank’s role in digital payments, blockchain-based liquidity and institutional settlement, although regulatory and execution details remain important. Bank of America and Citi Join 21-Firm USD Stablecoin Plan
• Positive Sentiment: Bank stocks are attracting capital. Investors are shifting toward major banks amid expectations of rising rates and concerns about elevated artificial-intelligence valuations. Higher rates can support net interest income, while BAC’s scale and diversified businesses may benefit from stronger financial-sector flows. Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: Options activity and analyst sentiment are constructive. Call-option volume was reported at roughly 363,000 contracts, 172% above typical levels, while brokerages assigned BAC a consensus “Moderate Buy” rating. A valuation analysis also suggested the shares could be undervalued, supporting the bullish case. Bank of America Corporation Given Consensus Recommendation of Moderate Buy

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.