Sivia Capital Partners LLC Purchases 29,981 Shares of Bank of America Corporation $BAC

Sivia Capital Partners LLC increased its position in Bank of America Corporation (NYSE:BAC) by 437.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,831 shares of the financial services provider’s stock after acquiring an additional 29,981 shares during the period. Sivia Capital Partners LLC’s holdings in Bank of America were worth $2,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAC. Abound Financial LLC bought a new stake in shares of Bank of America in the 4th quarter worth $26,000. Wiser Advisor Group LLC purchased a new position in shares of Bank of America in the third quarter worth $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the fourth quarter valued at $30,000. Joseph Group Capital Management bought a new position in shares of Bank of America during the fourth quarter valued at $32,000. Finally, Vermillion Wealth Management Inc. boosted its position in shares of Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after buying an additional 438 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAC shares. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Bank of America in a report on Tuesday, July 14th. Barclays raised their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley lifted their price target 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. Citigroup boosted their price objective on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Daiwa Securities Group increased their price objective on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Bank of America Trading Down 0.8%

Bank of America stock opened at $63.98 on Tuesday. The business has a 50-day simple moving average of $59.98 and a two-hundred day simple moving average of $54.40. The company has a market cap of $447.40 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.03 and a beta of 1.17. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.23. 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 released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS 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 firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts predict 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. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio is currently 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.