Sivia Capital Partners LLC Buys 29,981 Shares of Bank of America Corporation $BAC

Sivia Capital Partners LLC boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 437.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,831 shares of the financial services provider’s stock after purchasing an additional 29,981 shares during the period. Sivia Capital Partners LLC’s holdings in Bank of America were worth $2,099,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hartford Financial Management Inc. grew its stake in shares of Bank of America by 2.5% during the 2nd quarter. Hartford Financial Management Inc. now owns 59,307 shares of the financial services provider’s stock valued at $3,379,000 after acquiring an additional 1,460 shares during the period. Signaturefd LLC increased its holdings in Bank of America by 2.2% in the 2nd quarter. Signaturefd LLC now owns 199,983 shares of the financial services provider’s stock worth $11,395,000 after acquiring an additional 4,348 shares in the last quarter. Crewe Advisors LLC raised its stake in Bank of America by 4.7% during the 2nd quarter. Crewe Advisors LLC now owns 20,888 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 934 shares during the period. Ignite Planners LLC raised its stake in Bank of America by 1.6% during the 2nd quarter. Ignite Planners LLC now owns 27,235 shares of the financial services provider’s stock worth $1,552,000 after acquiring an additional 430 shares during the period. Finally, Tanager Wealth Management LLP purchased a new position in Bank of America during the second quarter valued at approximately $213,000. Institutional investors own 70.71% of the company’s stock.

More Bank of America News

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

Analysts Set New Price Targets

BAC has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Truist Financial raised their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. UBS Group upped their target price on shares of Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Bank of America Stock Performance

BAC opened at $63.98 on Tuesday. The stock has a market capitalization of $447.40 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.03 and a beta of 1.17. The company has a fifty day moving average of $59.98 and a 200 day moving average of $54.40. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. Bank of America’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a positive change 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 2.0%. Bank of America’s dividend payout ratio (DPR) is 25.69%.

About Bank of America

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.