Saudi Central Bank Purchases 222,282 Shares of Bank of America Corporation $BAC

Saudi Central Bank raised its position in Bank of America Corporation (NYSE:BAC) by 87.9% during the second quarter, Holdings Channel reports. The firm owned 475,191 shares of the financial services provider’s stock after purchasing an additional 222,282 shares during the period. Saudi Central Bank’s holdings in Bank of America were worth $27,076,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BAC. Total Clarity Wealth Management Inc. raised its stake in Bank of America by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider’s stock worth $279,000 after buying an additional 168 shares during the last quarter. Orca Wealth Management LLC boosted its position in Bank of America by 0.5% during the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider’s stock valued at $1,999,000 after acquiring an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its position in Bank of America by 4.0% during the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 181 shares during the last quarter. Money Concepts Capital Corp grew its holdings in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 182 shares during the period. Finally, Bedel Financial Consulting Inc. grew its holdings in Bank of America by 1.1% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 16,456 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 184 shares during the period. 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 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

Bank of America Price Performance

BAC stock opened at $62.64 on Friday. 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 company’s 50-day moving average is $61.64 and its 200-day moving average is $55.21. The stock has a market capitalization of $438.03 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.15. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue was up 19.6% compared to the same quarter last year. Equities research analysts expect that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. 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. Bank of America’s payout ratio is 25.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Bank of America in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their price target on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, UBS Group increased their price target on Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.