Paradigm Capital Management LLC NV Takes $1.87 Million Position in Bank of America Corporation $BAC

Paradigm Capital Management LLC NV bought a new position in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,819 shares of the financial services provider’s stock, valued at approximately $1,870,000. Bank of America makes up about 1.6% of Paradigm Capital Management LLC NV’s portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Bank of America in the fourth quarter worth approximately $4,774,210,000. Bank of New York Mellon Corp boosted its position in shares of Bank of America by 5.4% during the fourth 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 buying an additional 2,929,779 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Bank of America by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock valued at $2,958,110,000 after buying an additional 1,105,833 shares during the last quarter. Deutsche Bank AG grew its holdings in Bank of America by 5.9% during the fourth 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 grew its holdings in Bank of America by 640.5% during the third 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. Institutional investors and hedge funds own 70.71% of the company’s stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America’s AI initiatives, including branch expansion and automation, may improve operating efficiency and customer service over time. However, continued expense growth could limit the near-term benefit. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
• Positive Sentiment: BofA Securities continues to demonstrate a constructive view on major growth and technology markets, reiterating Buy ratings on Alibaba, Nvidia, Prudential and Elbit Systems. The activity supports the visibility of BAC’s investment-banking and research franchise, although it has limited direct impact on earnings. Alibaba Raises $10 Billion for AI — Why BofA Is Looking Past the Dilution
• Neutral Sentiment: Bank of America issued several senior unsecured notes in August, with maturities extending from 2029 to 2046. The issuance supports liquidity and funding flexibility, but adds to interest obligations and offers no immediate change to the company’s earnings outlook. What Bank of America (BAC)’s New Debt Issuance and AI Credit Research Push Means For Shareholders
• Negative Sentiment: The SEC reportedly subpoenaed Bank of America, Goldman Sachs, JPMorgan and Citigroup regarding margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The investigation raises potential legal, compliance and credit-loss risks, particularly if leveraged clients cannot meet obligations. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Negative Sentiment: Persistent operating-cost pressure remains a concern for BAC investors. While AI and branch expansion could boost productivity, elevated expenses may weigh on margins and reduce the benefit of the bank’s recent revenue growth.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BAC. Jefferies Financial Group restated a “buy” rating and set a $75.00 price objective on shares of Bank of America in a research note on Tuesday, July 14th. Morgan Stanley upped their target price on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Truist Financial increased their target price on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. UBS Group raised their price target on shares of Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Argus set a $70.00 price target on shares of Bank of America in a report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Price Performance

Shares of NYSE:BAC opened at $61.17 on Friday. The company has a market capitalization of $427.73 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company’s 50-day moving average is $61.06 and its 200 day moving average is $54.86. 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 fifty-two week low of $46.12 and a fifty-two week high of $65.22.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.32 dividend. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend 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 payout ratio is presently 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.