Old Mission Investment Co LLC Acquires New Shares in Bank of America Corporation $BAC

Old Mission Investment Co LLC bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 46,018 shares of the financial services provider’s stock, valued at approximately $2,622,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Bank of America during the 4th quarter valued at $4,774,210,000. Legal & General Group Plc bought a new position in Bank of America in the 2nd quarter worth about $2,571,060,000. Capital International Investors purchased a new position in Bank of America during the 4th quarter valued at about $2,357,461,000. Deutsche Bank AG bought a new stake in shares of Bank of America during the second quarter valued at about $2,359,172,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bank of America during the second quarter valued at about $2,313,953,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 0.6%

Shares of BAC opened at $62.64 on Friday. Bank of America Corporation has a 1-year low of $46.12 and a 1-year high of $65.22. The company has a market capitalization of $438.03 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.01 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. The firm’s 50 day simple moving average is $61.64 and its 200 day simple moving average is $55.21.

Bank of America (NYSE:BAC) last issued its quarterly earnings results 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. The firm had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. Sell-side 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 business 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 $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.0%. This is a boost 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 (DPR) is presently 25.69%.

More Bank of America News

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America’s New Warning Should Concern Stock Investors

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley upped their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. raised their price target 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 target on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Barclays upped their price target on shares of Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Twenty-one investment 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 an average 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.