128,256 Shares in Bank of America Corporation $BAC Bought by Osterweis Capital Management Inc.

Osterweis Capital Management Inc. purchased a new stake in Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 128,256 shares of the financial services provider’s stock, valued at approximately $7,308,000.

A number of other hedge funds have also recently bought and sold shares of BAC. Turim 21 Investimentos Ltda. purchased a new stake in shares of Bank of America in the second quarter valued at about $25,000. Abound Financial LLC bought a new stake in Bank of America in the 4th quarter worth about $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America in the 3rd quarter worth about $27,000. CrossGen Wealth LLC purchased a new stake in Bank of America in the 4th quarter valued at about $30,000. Finally, Joseph Group Capital Management purchased a new stake in Bank of America in the 4th quarter valued at about $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’s AI initiatives, including branch expansion and automation, may improve operating efficiency and customer service over time. However, continued expense growth could limit the near-term benefit. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: BofA Securities continues to demonstrate a constructive view on major growth and technology markets, reiterating Buy ratings on Alibaba, Nvidia, Prudential and Elbit Systems. The activity supports the visibility of BAC’s investment-banking and research franchise, although it has limited direct impact on earnings. Alibaba Raises $10 Billion for AI — Why BofA Is Looking Past the Dilution
• Neutral Sentiment: Bank of America issued several senior unsecured notes in August, with maturities extending from 2029 to 2046. The issuance supports liquidity and funding flexibility, but adds to interest obligations and offers no immediate change to the company’s earnings outlook. What Bank of America (BAC)’s New Debt Issuance and AI Credit Research Push Means For Shareholders
• Negative Sentiment: The SEC reportedly subpoenaed Bank of America, Goldman Sachs, JPMorgan and Citigroup regarding margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The investigation raises potential legal, compliance and credit-loss risks, particularly if leveraged clients cannot meet obligations. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: Persistent operating-cost pressure remains a concern for BAC investors. While AI and branch expansion could boost productivity, elevated expenses may weigh on margins and reduce the benefit of the bank’s recent revenue growth.

Bank of America Stock Performance

Shares of BAC opened at $61.17 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 debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The stock’s fifty day moving average price is $61.06 and its two-hundred day moving average price is $54.86. The firm has a market cap of $427.73 billion, a PE ratio of 14.03, a PEG ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping 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 company had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BAC. Wells Fargo & Company boosted 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. Citigroup increased their price target on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Evercore set a $63.00 price target on Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. 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 research report on Wednesday, July 15th. Finally, Argus set a $70.00 price objective on Bank of America in a research note on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target 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.