Safeguard Investment Advisory Group LLC Makes New $2.16 Million Investment in Bank of America Corporation $BAC

Safeguard Investment Advisory Group LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 37,953 shares of the financial services provider’s stock, valued at approximately $2,162,000. Bank of America comprises approximately 0.5% of Safeguard Investment Advisory Group LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Turim 21 Investimentos Ltda. bought a new position in Bank of America in the 2nd quarter valued at approximately $25,000. Abound Financial LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC acquired a new position in Bank of America in the 4th quarter valued at approximately $30,000. Finally, Joseph Group Capital Management acquired a new position in Bank of America in the 4th quarter valued at approximately $32,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Down 0.3%

NYSE:BAC opened at $62.26 on Thursday. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. 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 firm’s fifty day moving average is $60.96 and its 200-day moving average is $54.83. The firm has a market cap of $435.37 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.00 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its 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. The business had revenue of $31.56 billion during 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 quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. Equities analysts expect 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s payout ratio is presently 25.69%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s approximately $40 billion share-repurchase authorization could retire as much as 11% of outstanding shares, potentially supporting earnings per share and providing a valuation floor. The buyback is particularly notable following the company’s recent earnings beat and 19.6% year-over-year revenue growth. Bank of America stock information
• Positive Sentiment: Bank of America analysts continue to influence investor views on artificial intelligence, semiconductors and global markets. Positive calls on Nvidia and SK Hynix reinforce the bank’s research franchise and could support investment-banking and trading activity, although these reports do not directly change BAC’s fundamentals. BofA analyst Nvidia outlook
• Neutral Sentiment: The bank issued several senior unsecured medium-term notes in August, including bonds maturing from 2029 through 2046. The issuance adds funding and liquidity but also increases interest expense and leverage, making the net shareholder impact dependent on how the proceeds are used. Bank of America debt issuance and AI research
• Negative Sentiment: SEC subpoenas involving major prime brokers, including Bank of America, create a regulatory overhang. The investigation focuses on leverage and risk controls tied to a heavily leveraged hedge fund; while immediate solvency risk appears limited, tighter margin rules could reduce trading activity and raise compliance costs. SEC subpoena and banking-sector liquidity analysis
• Negative Sentiment: Bank of America expects to spend at least $250 million annually on GLP-1 weight-loss drugs for employees. Management views the benefit as worthwhile, but the expense could pressure operating costs and margins. Bank of America employee GLP-1 spending

Analysts Set New Price Targets

BAC has been the topic of a number of recent research reports. Barclays lifted 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. Keefe, Bruyette & Woods raised their target price on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Citigroup lifted their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their price target 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. Finally, Truist Financial increased their price target on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.