Meiji Yasuda Asset Management Co Ltd. Takes $2.11 Million Position in Bank of America Corporation $BAC

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 36,987 shares of the financial services provider’s stock, valued at approximately $2,108,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Norges Bank bought a new stake in shares of Bank of America in the 4th quarter worth $4,774,210,000. Capital International Investors purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $2,357,461,000. Deutsche Bank AG purchased a new position in Bank of America in the second quarter worth $2,359,172,000. Bank of New York Mellon Corp purchased a new stake in shares of Bank of America during the 2nd quarter valued at $2,313,953,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BAC. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Bank of America in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Morgan Stanley increased their price objective on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America News Summary

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

Bank of America Price Performance

Shares of Bank of America stock opened at $62.26 on Thursday. The company’s fifty day simple moving average is $60.96 and its two-hundred day simple moving average is $54.83. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The firm has a market cap of $435.37 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last posted 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 company had revenue of $31.56 billion during 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%. Bank of America’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued 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 dividend yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio is currently 25.69%.

About Bank of America

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.