Vest Financial LLC Has $76.30 Million Position in Bank of America Corporation $BAC

Vest Financial LLC raised its holdings in Bank of America Corporation (NYSE:BAC) by 39.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,339,065 shares of the financial services provider’s stock after acquiring an additional 376,775 shares during the quarter. Bank of America comprises 0.8% of Vest Financial LLC’s portfolio, making the stock its 23rd largest position. Vest Financial LLC’s holdings in Bank of America were worth $76,300,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC increased its holdings in Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 18,227 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Bank of America in the second quarter valued at about $1,396,000. Finally, Vivaldi Capital Management LP lifted its stake in Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock valued at $417,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America is investing $1.9 billion for as much as a 49.9% stake in Jio Credit, expanding its presence in India’s growing financial-services market. The partnership could provide long-term growth and diversification, although returns will depend on execution and regulatory conditions. Will Bank of America Benefit From the Jio Credit Partnership in India?
• Positive Sentiment: BofA’s analysts remain highly constructive on Micron, citing structurally stronger memory demand, potential earnings growth and substantial free cash flow from AI infrastructure. Stronger capital-markets and advisory activity around AI-related companies could indirectly benefit BAC, though the primary gains accrue to Micron investors. Bank of America Sees 50% Upside in Micron Stock
• Neutral Sentiment: BofA also sees substantial potential margin improvement for AI-cloud providers CoreWeave and Nebius, and has endorsed long positions in gold amid a weaker dollar and changing Federal Reserve expectations. These views highlight areas of client and markets activity but have no clear immediate effect on BAC’s profits. A Major Catalyst Could Boost CoreWeave and Nebius Margins by Up to 1,000 Basis Points
• Neutral Sentiment: Bank of America trimmed an indirect holding in Turkey’s Ozsu Balik Uretim, a portfolio-management update that appears too small and unrelated to materially affect BAC’s valuation. Bank of America Trims Indirect Stake in Ozsu Balik Uretim
• Neutral Sentiment: Coverage of CEO Brian Moynihan’s distinctive language during analyst calls is reputational rather than financial and provides no new earnings or capital-allocation information. The Secret Word Game Bank of America’s CEO Plays With Wall Street

Analysts Set New Price Targets

Several research firms have recently issued reports on BAC. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an “outperform” rating in a report on Monday, July 6th. Wells Fargo & Company lifted their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Robert W. Baird boosted their price target 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. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Price Performance

NYSE BAC opened at $63.98 on Tuesday. The business has a 50 day simple moving average of $59.98 and a 200 day simple moving average of $54.40. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $447.40 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.03 and a beta of 1.17.

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 for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal 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 given a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a yield of 2.0%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s payout ratio is presently 25.69%.

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.