Kintra Wealth LLC Increases Holdings in Bank of America Corporation $BAC

Kintra Wealth LLC raised its stake in Bank of America Corporation (NYSE:BAC) by 21.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,306 shares of the financial services provider’s stock after purchasing an additional 8,124 shares during the quarter. Kintra Wealth LLC’s holdings in Bank of America were worth $2,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new stake in shares of Bank of America in the second quarter valued at about $25,000. Abound Financial LLC acquired a new position in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America in the 3rd quarter worth approximately $27,000. CrossGen Wealth LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Bank of America in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.6%

NYSE BAC opened at $62.64 on Friday. The company has a market capitalization of $438.03 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.15. 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 Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company’s fifty day moving average price is $61.64 and its two-hundred day moving average price is $55.21.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. As a group, research analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal 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 paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.0%. Bank of America’s payout ratio is presently 25.69%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America joined 20 financial institutions forming a company that plans to issue a U.S.-dollar stablecoin in 2027. The initiative could strengthen BAC’s position in digital payments and blockchain-based financial services, although any revenue benefit is longer term. Bank of America (BAC), What Is Behind The Fresh Attention?
• Positive Sentiment: Unusual options activity showed investors purchasing 362,697 BAC call options, 172% above average daily volume. The activity signals heightened bullish speculation, though options positioning can increase volatility and does not guarantee fundamental upside.
• Positive Sentiment: Brokerage coverage continues to lean favorable, with analysts assigning BAC a consensus “Moderate Buy” rating. The constructive view supports the stock’s recent momentum. Bank of America Corporation Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: BAC announced plans to redeem $2 billion of U.S.-dollar senior notes and CAD1.425 billion of Canadian-dollar senior notes on September 15. The transactions represent routine liability management and may improve funding efficiency, but they are not expected to materially change near-term earnings. Bank of America Announces U.S. Note Redemptions
• Negative Sentiment: A technical-market warning noted that Wall Street positioning in BAC and broader equities has reached an extreme. That raises the risk of profit-taking or a pullback despite the bank’s recent outperformance. Bank of America’s New Warning Should Concern Stock Investors

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BAC shares. Argus set a $70.00 target price on shares of Bank of America in a research 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 report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, July 21st. Wells Fargo & Company upped their price objective on shares of Bank of America from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.

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.