10,305 Shares in Bank of America Corporation $BAC Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,305 shares of the financial services provider’s stock, valued at approximately $537,000.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $4,774,210,000. Bank of New York Mellon Corp boosted its stake in Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after purchasing an additional 2,929,779 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Bank of America by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after purchasing an additional 1,105,833 shares during the last quarter. Deutsche Bank AG increased its holdings in Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after buying an additional 2,611,776 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Bank of America by 640.5% in 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 buying an additional 40,235,201 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAC has been the topic of several research analyst reports. Morgan Stanley upped their target price on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Robert W. Baird boosted their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. 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 research note on Wednesday, July 29th. Finally, Argus set a $70.00 price target on Bank of America in a report 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.08.

More Bank of America News

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 Trading Down 0.3%

NYSE:BAC opened at $62.26 on Thursday. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22. The business has a fifty day moving average price of $60.96 and a 200-day moving average price of $54.83. The firm has a market capitalization of $435.37 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. 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 (NYSE:BAC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Sell-side analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business 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 dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is presently 25.69%.

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.