Sculptor Capital LP Grows Position in Bank of America Corporation $BAC

Sculptor Capital LP lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,232,655 shares of the financial services provider’s stock after purchasing an additional 100,000 shares during the quarter. Bank of America comprises 1.1% of Sculptor Capital LP’s investment portfolio, making the stock its 18th biggest holding. Sculptor Capital LP’s holdings in Bank of America were worth $108,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Abound Financial LLC bought a new stake in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter valued at approximately $27,000. Legacy Bridge LLC lifted its holdings in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. CrossGen Wealth LLC purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America in the 4th quarter worth approximately $32,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA’s famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Price Performance

Shares of BAC opened at $62.00 on Monday. The company has a market capitalization of $439.96 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. 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 firm has a 50 day moving average of $56.42 and a 200 day moving average of $53.33. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.28.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same period in the prior year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.65 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is currently 29.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Barclays boosted their target price on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their target price on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. 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. Finally, Morgan Stanley raised their price target on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average target price of $63.77.

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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.