259,433 Shares in Bank of America Corporation $BAC Purchased by Rice Hall James & Associates LLC

Key Points

• Rice Hall James & Associates purchased 259,433 Bank of America shares during the second quarter, valued at approximately $13.5 million. Institutional investors collectively own 70.71% of the company.
• Bank of America reported quarterly EPS of $1.21, beating estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion.
• The company increased its quarterly dividend from $0.28 to $0.32 per share, equivalent to a $1.28 annualized payout and a 2.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.

Rice Hall James & Associates LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 259,433 shares of the financial services provider's stock, valued at approximately $13,514,000.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Bank of America during the 4th quarter valued at approximately $4,774,210,000. Capital International Investors purchased a new position in shares of Bank of America in the fourth quarter worth $2,357,461,000. Bank of New York Mellon Corp purchased a new position in shares of Bank of America in the second quarter worth $2,313,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 acquiring an additional 40,235,201 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after acquiring an additional 23,351,183 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

Bank of America stock opened at $61.94 on Friday. The company has a market cap of $433.13 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.01 and a beta of 1.17. The firm's fifty day moving average is $60.49 and its 200 day moving average is $54.62. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.56% and a return on equity of 12.20%. The business had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same period last year, the company posted $0.89 EPS. The business's revenue was up 19.6% on a year-over-year basis. Sell-side analysts forecast that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.32 dividend. This is an increase from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, September 4th. Bank of America's dividend payout ratio (DPR) is 25.69%.

Key Stories Impacting Bank of America

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, supporting BAC’s consumer-banking and digital-lending capabilities. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: Bank of America’s bullish research on Nvidia, Zoom and software stocks reinforces the breadth and influence of its securities-research and investment-banking franchise, although the recommendations primarily affect those companies rather than BAC’s earnings directly. Bank of America Thinks Nvidia Stock Could Go 50% Higher
• Neutral Sentiment: BofA appointed Yuta Komori as chair of Asia Pacific Global Industrials Investment Banking and named Meng Gao and Masashi Toda as co-heads, a move that could strengthen regional coverage but is unlikely to materially change near-term financial results. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: BofA surveys show investors still favor technology but are increasingly hedging against AI risks and adopting defensive positions. The cautious tone may temper trading activity and risk appetite across financial markets, while expectations for a “no landing” economy could support interest income. BofA Survey Shows Record Expectations for No Landing
• Negative Sentiment: An analysis argues that BAC’s current valuation already assumes roughly a 16% terminal return on tangible common equity, leaving limited room for execution mistakes or weaker profitability and supporting a “hold” view. Bank of America: Current Price Already Requires a 16% Terminal ROTCE
• Negative Sentiment: Bank of America has significantly lagged BNY Mellon in 2026, highlighting relative-performance concerns and potentially reducing investor enthusiasm for the bank trade. Which Big Bank Stock Has Dominated in 2026

Analyst Upgrades and Downgrades

BAC has been the topic of a number of research reports. UBS Group lifted 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. JPMorgan Chase & Co. increased their price objective on shares of Bank of America from $62.50 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Citigroup raised their price objective on Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Evercore set a $63.00 target price on Bank of America and gave the stock an "outperform" rating in a report on Monday, July 6th. Finally, Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company 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.

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