MASTERINVEST Kapitalanlage GmbH Has $5.25 Million Holdings in Bank of America Corporation $BAC

MASTERINVEST Kapitalanlage GmbH cut its position in Bank of America Corporation (NYSE:BAC) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,213 shares of the financial services provider’s stock after selling 8,444 shares during the quarter. MASTERINVEST Kapitalanlage GmbH’s holdings in Bank of America were worth $5,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new stake in Bank of America in the second quarter valued at approximately $25,000. Abound Financial LLC acquired a new position in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America in the third quarter valued at $27,000. CrossGen Wealth LLC purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $30,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 438 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 2.0%

Shares of BAC stock opened at $62.38 on Friday. 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 Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The company has a market capitalization of $436.21 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business’s fifty day moving average is $61.18 and its 200 day moving average is $54.92.

Bank of America (NYSE:BAC) last issued 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. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter last year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities research analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently disclosed 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 represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 25.69%.

Analyst Ratings Changes

Several research analysts have weighed in on BAC shares. 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. Wells Fargo & Company boosted their price objective on Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Barclays raised their target price on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s artificial-intelligence initiatives and branch expansion are expected to improve operating efficiency and customer service. The potential for productivity gains supports the long-term earnings case, although elevated expenses remain a risk. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: Strong inflows into gold and cryptocurrency funds reported by BofA suggest elevated client demand for investment products. That activity could benefit the bank’s wealth-management, brokerage and trading businesses, though the impact on BAC’s earnings is indirect.
• Neutral Sentiment: Bank of America disclosed holdings of approximately 4.69% and 5.87% in QIAGEN, reflecting regulatory notifications about its investment position. The disclosures may attract attention but do not materially change BAC’s core banking outlook. Bank of America Discloses 5.87% Stake in QIAGEN
• Neutral Sentiment: BofA strategists warned that global equities could face an autumn “reality check” tied to the U.S. midterm elections and geopolitical developments. A market pullback could weigh on BAC through lower investment-banking, asset-management and trading activity. Bank of America Warns of an Autumn Reality Check
• Negative Sentiment: JPMorgan is hiring senior technology dealmaker David Fishman from Bank of America. Losing an experienced M&A executive could weaken BAC’s technology investment-banking franchise and adds to competitive pressure. JPMorgan Hiring Bank of America’s David Fishman
• Negative Sentiment: The SEC is reportedly investigating margin lending to hedge fund Situational Awareness after a 67% drawdown, with Bank of America among the subpoenaed banks. Potential legal, credit and reputational risks could pressure sentiment. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: BAC is challenging proposed changes to the Federal Reserve’s global systemically important bank capital surcharge. Higher capital requirements could constrain lending, reduce balance-sheet flexibility and pressure returns on equity. Bank of America Joins Clash Over Fed GSIB Capital Rule

Bank of America 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.