<div id="readability-page-1"><p>EWG Elevate Inc. acquired a new stake in  Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor  acquired 4,953 shares of the financial services provider's stock, valued at approximately $234,000.</p><div><p><span></span><span>Get <strong>Bank of America</strong> alerts:</span></p></div><ul><li>Buybacks Over Dividends? These 2 Stock Picks Make a Strong Case</li></ul><p>A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Nova Wealth Management Inc. grew its position in shares of  Bank of America by 75.2% in the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 227 shares during the last quarter.  Wood Tarver Financial Group LLC acquired a new position in shares of  Bank of America during the 4th quarter worth approximately $38,000.  Mascagni Wealth Management Inc. purchased a new stake in  Bank of America in the 4th quarter valued at approximately $40,000.  Cloud Capital Management LLC acquired a new stake in  Bank of America during the 1st quarter valued at $40,000.  Finally, HighMark Wealth Management LLC increased its position in  Bank of America by 233.6% during the first quarter. HighMark Wealth Management LLC now owns 1,061 shares of the financial services provider's stock worth $43,000 after buying an additional 743 shares in the last quarter. Institutional investors and hedge funds own  70.71% of the company's stock. </p><h2>Analyst Ratings Changes</h2><p>A number of research firms have recently weighed in on BAC. Morgan Stanley boosted their price target on Bank of America from $47.00 to $49.00 and gave the stock an &#34;overweight&#34; rating in a report on Monday, June 23rd. Hsbc Global Res downgraded shares of Bank of America from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Bank of America from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a report on Saturday, September 13th. Wells Fargo &amp; Company lifted their price target on shares of Bank of America from $56.00 to $60.00 and gave the stock an &#34;overweight&#34; rating in a report on Tuesday, September 16th. Finally, HSBC downgraded shares of Bank of America from a &#34;buy&#34; rating to a &#34;hold&#34; rating and upped their price objective for the company from $47.00 to $51.00 in a research note on Monday, July 7th. Sixteen research analysts have rated the stock with a Buy rating and five have issued  a Hold rating to the stock. According to MarketBeat, Bank of America presently has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $50.76.</p><ul><li>Consider This Bank ETF Before The Fed Cuts Rate This Fall</li></ul><p><b>Get Our Latest Stock Analysis on Bank of America</b></p><h2>Bank of America Trading Down 0.5%</h2><p>NYSE BAC opened at $51.68 on Wednesday. The firm has a market capitalization of $382.78 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 2.01 and a beta of 1.34. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.79 and a current ratio of 0.80. Bank of America Corporation has a one year low of $33.06 and a one year high of $52.88. The company's 50 day moving average price is $48.76 and its 200 day moving average price is $44.68. </p><ul><li>4 Stocks Planning to Substantially Boost Buybacks After Solid Q2</li></ul><p>Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. Bank of America had a net margin of 14.81% and a return on equity of 10.25%. The company had revenue of ($22,273.00) million during the quarter, compared to the consensus estimate of $26.79 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. Bank of America's revenue for the quarter was up 4.3% on a year-over-year basis.  On average, sell-side analysts predict that  Bank of America Corporation will post 3.7 EPS for the current year. </p><h2>Bank of America Increases Dividend</h2><p>The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.2%. This is a boost from Bank of America's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 5th. Bank of America's dividend payout ratio  is 32.75%. </p><p>Bank of America announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 23rd that authorizes the company to buyback $40.00 billion in  outstanding  shares. This buyback authorization authorizes the financial services provider to purchase up to 11.1% of its stock  through open market purchases. Stock  buyback plans are generally an indication that the company's board believes its stock is undervalued. </p><h2>Insider Activity at Bank of America</h2><p>In other Bank of America news, insider James P. Demare sold 148,391 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $45.57, for a total transaction of $6,762,177.87. Following the transaction, the insider owned 223,407 shares in the company, valued at $10,180,656.99. The trade was a 39.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders. </p><h2>Bank of America Profile</h2> (Free Report)<p>Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth &amp; Investment Management (GWIM), Global Banking, and Global Markets.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Bank of America</li><li>How to Use High Beta Stocks to Maximize Your Investing Profits</li><li>3 Quantum Computing ETFs to Know—And Why 2 Don't Hold D-Wave</li><li>Procter &amp; Gamble <span>NYSE: PG<span></span></span> Pulls Back After Shaky Guidance</li><li>Forget Tariffs, Landstar and West Fraser Can Still Rally </li><li>Expert Stock Trading Psychology Tips</li><li>Is Super Micro Next in Line for a Big AI Takeover?</li></ul><p><strong>Want to see what other hedge funds are holding BAC?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Bank of America Right Now?</h2><p>Before you consider Bank of America, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.</p><p>While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>EWG Elevate Inc. acquired 4,953 shares of Bank of America Corporation (NYSE:BAC) valued at approximately $234,000 during Q2, as per its Form 13F filing. Other institutional investors also adjusted their stakes in BAC. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a price target of $50.76. Bank of America reported $0.89 EPS for Q2, exceeding estimates, and announced a quarterly dividend increase to $0.28, payable on September 26.</p>

4,953 Shares in Bank of America Corporation $BAC Purchased by EWG Elevate Inc.