Jupiter Asset Management Ltd. Makes New $27.63 Million Investment in Bank of America Corporation $BAC

Jupiter Asset Management Ltd. bought a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 535,541 shares of the financial services provider’s stock, valued at approximately $27,629,000.

Several other large investors also recently made changes to their positions in BAC. Geode Capital Management LLC boosted its position in Bank of America by 0.3% during the second quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after purchasing an additional 403,652 shares during the period. Norges Bank acquired a new stake in shares of Bank of America in the second quarter worth $5,091,641,000. Fisher Asset Management LLC boosted its holdings in shares of Bank of America by 5.2% during the 2nd quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock worth $2,432,516,000 after buying an additional 2,557,943 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Bank of America by 124.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 17,619,837 shares of the financial services provider’s stock valued at $833,771,000 after buying an additional 9,782,208 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Bank of America by 5.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,438,466 shares of the financial services provider’s stock worth $899,650,000 after acquiring an additional 875,514 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC stock opened at $53.04 on Friday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $57.55. The company has a market capitalization of $387.35 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.29 and a beta of 1.29. The stock has a 50 day moving average of $54.29 and a two-hundred day moving average of $52.22. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.Bank of America’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. As a group, equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Bank of America’s dividend payout ratio (DPR) is presently 29.24%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAC. Oppenheimer boosted their target price on shares of Bank of America from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. The Goldman Sachs Group boosted their price objective on Bank of America from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Truist Financial lowered their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Evercore set a $59.00 price target on Bank of America in a research report on Thursday, January 15th. Finally, Argus increased their price objective on Bank of America from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Twenty-two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $60.30.

Trending Headlines about Bank of America

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

• Positive Sentiment: Large growth/fee opportunity — BofA plans to commit $25 billion of its own capital to expand private‑credit and direct‑lending activity, a move that can boost fee income, diversify lending channels and signal aggressive growth of non‑interest revenue. BofA commits $25 billion to private-credit deals, memo shows
• Positive Sentiment: Client acquisition and deposit strategy — BofA is redesigning a no‑fee rewards program aimed at expanding relationships with checking clients (potentially ~30M more), which could deepen deposit balances and cross‑sell into cards and wealth management over time. How BAC’s No-Fee Rewards Program Can Be a Slow-Burn Growth Driver
• Positive Sentiment: Wealth business recognition — Merrill had 24 advisors named to Financial Planning’s Top 40 Brokers Under 40, underscoring talent depth in wealth management, which supports fee revenue stability and advisor retention. 24 Merrill Advisors Recognized on Financial Planning’s Top 40 Brokers Under 40 List
• Neutral Sentiment: Investor attention rising — Screening and search interest in BAC has picked up, which can amplify moves both ways depending on incoming data and macro headlines. Investors Heavily Search Bank of America Corporation (BAC)
• Neutral Sentiment: Macro/sector commentary — Bank of America Securities flagged the housing rebound as shaky (weak year‑on‑year), which is sector commentary that could influence mortgage volumes but isn’t an immediate hit to BAC’s broad franchise. Home Construction Rebound Looks Shaky, Says Analyst
• Negative Sentiment: Risk/valuation concerns in private credit — Coverage from FT and others notes growing industry moves into private credit and flags mounting concerns about the sector’s health and underwriting risk; deploying large balance‑sheet capital raises exposure and regulatory/credit‑cycle risk if conditions sour. Bank of America commits $25bn to private credit lending

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.