Synergy Asset Management LLC Raises Stock Holdings in Bank of America Corporation $BAC

Synergy Asset Management LLC grew its position in Bank of America Corporation (NYSE:BAC) by 1,817.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 511,749 shares of the financial services provider’s stock after acquiring an additional 485,062 shares during the quarter. Bank of America comprises approximately 2.7% of Synergy Asset Management LLC’s portfolio, making the stock its 12th biggest position. Synergy Asset Management LLC’s holdings in Bank of America were worth $29,159,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Bank of America in the 4th quarter valued at $4,774,210,000. Capital International Investors purchased a new position in Bank of America during the 4th quarter worth $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. increased its stake in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Finally, Cardano Risk Management B.V. increased its stake in Bank of America by 914.5% in the fourth quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after purchasing an additional 22,621,546 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 0.6%

BAC stock opened at $64.45 on Friday. The stock has a market capitalization of $450.72 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a fifty day moving average of $59.77 and a 200-day moving average of $54.30. 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 one year low of $46.12 and a one year high of $65.20.

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, topping analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 earnings per share. As a group, analysts expect that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
• Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
• Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
• Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAC. Robert W. Baird increased their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Argus set a $70.00 price target on Bank of America in a research report on Wednesday, July 15th. Citigroup upped their price objective on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Finally, Morgan Stanley lifted their target price on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.