Oxford Financial Group LTD. LLC Buys Shares of 17,454 Bank of America Corporation $BAC

Oxford Financial Group LTD. LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,454 shares of the financial services provider’s stock, valued at approximately $995,000.

A number of other hedge funds have also made changes to their positions in BAC. Norges Bank acquired a new position in Bank of America during the 4th quarter worth $4,774,210,000. Bank of New York Mellon Corp raised its stake in shares of Bank of America by 5.4% in 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 in the last quarter. Fisher Asset Management LLC raised its stake in shares of Bank of America by 2.1% in the 4th 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 purchasing an additional 1,105,833 shares in the last quarter. Deutsche Bank AG lifted its position in shares of 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 purchasing an additional 2,611,776 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 purchasing an additional 40,235,201 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BAC shares. UBS Group boosted their price target on Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Argus set a $70.00 price objective on Bank of America in a research note on Wednesday, July 15th. Oppenheimer downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Citigroup boosted their target price on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Robert W. Baird increased their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America Stock Performance

Shares of BAC stock opened at $62.35 on Tuesday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $436.03 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business has a 50 day simple moving average of $60.73 and a 200 day simple moving average of $54.73.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The company’s revenue was up 19.6% on a year-over-year basis. On average, equities research analysts anticipate 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. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Trending Headlines about Bank of America

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

• Positive Sentiment: Higher dividend income reinforces BAC’s appeal: Bank of America has increased its payout again, generating approximately $619 million in annual dividend income for Warren Buffett’s Berkshire Hathaway. The dividend growth supports the stock’s income-investment case and signals confidence in capital generation. Iconic bank stock pays Buffett’s Berkshire $619M in annual dividends
• Positive Sentiment: Preferred-share yields attract income investors: Analysis highlighting Bank of America preferred shares offering yields of roughly 6.6% may improve visibility for the company’s broader capital-return and income-investment story, though preferred securities do not directly increase common-stock earnings. Bank of America Offers Good Alternative To Treasuries
• Neutral Sentiment: Bank of America disclosed new strategic holdings: The company reported crossing a 10% stake in Lakefront Biotherapeutics and raising an indirect stake in Sanifoam above 5% under regulatory transparency rules. These disclosures appear to reflect investment or custody activity and are not expected to materially change BAC’s operating outlook. Bank of America Builds 10% Stake in Lakefront Biotherapeutics
• Neutral Sentiment: Market sentiment remains supportive: Bank of America’s fund-manager survey found rising equity optimism and cash allocations near historic lows. Stronger risk appetite could benefit banking activity and markets, but it also raises the possibility of positioning becoming crowded. Investor bullishness surges as BofA survey shows cash levels near historic lows
• Negative Sentiment: AI could widen consumer credit risks: Bank of America research suggests artificial intelligence is creating financial winners and losers and could eventually affect consumers’ access to credit. If weaker borrowers face increased pressure, the trend could pose longer-term risks to loan growth and credit quality. BofA finds AI is creating a credit divide

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.