1ST Source Bank Makes New $5.73 Million Investment in Bank of America Corporation $BAC

1ST Source Bank bought a new position in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 100,564 shares of the financial services provider's stock, valued at approximately $5,730,000.

A number of other institutional investors also recently modified their holdings of BAC. Abound Financial LLC bought a new position in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter worth approximately $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the fourth quarter worth approximately $30,000. Joseph Group Capital Management acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $32,000. Finally, Vermillion Wealth Management Inc. raised its position in shares of Bank of America by 199.1% in 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 in the last quarter. Institutional investors own 70.71% of the company's stock.

Key Bank of America News

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
• Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
• Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
• Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs

Bank of America Trading Down 1.7%

Shares of BAC stock opened at $63.17 on Thursday. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. The stock's fifty day moving average price is $60.35 and its two-hundred day moving average price is $54.56. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $441.73 billion, a PE ratio of 14.49, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly 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. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. Bank of America's revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Bank of America Corporation will post 4.68 EPS 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 given a $0.32 dividend. 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 yield of 2.0%. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio (DPR) is presently 25.69%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Evercore set a $63.00 price objective on Bank of America and gave the company an "outperform" rating in a report on Monday, July 6th. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 target price on shares of Bank of America in a research report on Tuesday, July 14th. UBS Group increased their target price on Bank of America from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price target on Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average 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.

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