Old Mission Investment Co LLC Takes $2.62 Million Position in Bank of America Corporation $BAC

Old Mission Investment Co LLC purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 46,018 shares of the financial services provider’s stock, valued at approximately $2,622,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. boosted its stake in shares of Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $279,000 after buying an additional 168 shares during the last quarter. Orca Wealth Management LLC increased its position in shares of Bank of America by 0.5% during the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 179 shares during the last quarter. Financial Consulate Inc. increased its position in shares of Bank of America by 4.0% during the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 181 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 182 shares during the period. Finally, Bedel Financial Consulting Inc. boosted its position in Bank of America by 1.1% in the second quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 184 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Evercore set a $63.00 price objective on Bank of America and gave the company an “outperform” rating in a research note on Monday, July 6th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Robert W. Baird increased their price target on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, UBS Group raised their price objective 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. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.08.

Bank of America Stock Performance

NYSE:BAC opened at $62.64 on Friday. The company has a market capitalization of $438.03 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.01 and a beta of 1.15. The business has a fifty day simple moving average of $61.64 and a two-hundred day simple moving average of $55.21. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

More Bank of America News

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America’s New Warning Should Concern Stock Investors

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.