Nilsine Partners LLC Has $4.62 Million Position in Bank of America Corporation $BAC

Nilsine Partners LLC lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 115.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 81,096 shares of the financial services provider’s stock after purchasing an additional 43,369 shares during the period. Nilsine Partners LLC’s holdings in Bank of America were worth $4,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter worth about $26,000. Wiser Advisor Group LLC acquired a new position in shares of Bank of America during the third quarter worth approximately $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $30,000. Joseph Group Capital Management acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $32,000. Finally, HFM Investment Advisors LLC raised its position in Bank of America by 566.0% in the 4th quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 532 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Down 0.8%

Shares of NYSE:BAC opened at $63.98 on Tuesday. The company has a 50 day moving average price of $59.98 and a two-hundred day moving average price of $54.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $447.40 billion, a PE ratio of 14.67, a PEG 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 $65.23.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $30.78 billion. During the same period last year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts forecast that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.32 dividend. 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. The ex-dividend date is Friday, September 4th. 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: Bank of America is investing $1.9 billion for as much as a 49.9% stake in Jio Credit, expanding its presence in India’s growing financial-services market. The partnership could provide long-term growth and diversification, although returns will depend on execution and regulatory conditions. Will Bank of America Benefit From the Jio Credit Partnership in India?
• Positive Sentiment: BofA’s analysts remain highly constructive on Micron, citing structurally stronger memory demand, potential earnings growth and substantial free cash flow from AI infrastructure. Stronger capital-markets and advisory activity around AI-related companies could indirectly benefit BAC, though the primary gains accrue to Micron investors. Bank of America Sees 50% Upside in Micron Stock
• Neutral Sentiment: BofA also sees substantial potential margin improvement for AI-cloud providers CoreWeave and Nebius, and has endorsed long positions in gold amid a weaker dollar and changing Federal Reserve expectations. These views highlight areas of client and markets activity but have no clear immediate effect on BAC’s profits. A Major Catalyst Could Boost CoreWeave and Nebius Margins by Up to 1,000 Basis Points
• Neutral Sentiment: Bank of America trimmed an indirect holding in Turkey’s Ozsu Balik Uretim, a portfolio-management update that appears too small and unrelated to materially affect BAC’s valuation. Bank of America Trims Indirect Stake in Ozsu Balik Uretim
• Neutral Sentiment: Coverage of CEO Brian Moynihan’s distinctive language during analyst calls is reputational rather than financial and provides no new earnings or capital-allocation information. The Secret Word Game Bank of America’s CEO Plays With Wall Street

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of recent research reports. Royal Bank Of Canada increased their price objective on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Truist Financial raised their price target on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Robert W. Baird boosted 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. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

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.