27,157 Shares in Bank of America Corporation $BAC Acquired by Proficio Capital Partners LLC

Key Points

• Proficio Capital Partners acquired 27,157 Bank of America shares worth approximately $1.55 million in the second quarter. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding the $1.13 analyst consensus, while revenue rose 19.6% year over year to $31.56 billion. Analysts expect full-year EPS of $4.68.
• The quarterly dividend increased to $0.32 per share from $0.28, representing an annualized dividend of $1.28 and a 2.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.

Proficio Capital Partners LLC acquired a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,157 shares of the financial services provider's stock, valued at approximately $1,547,000.

Several other large investors also recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its stake in Bank of America by 53.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after buying an additional 1,603,080 shares in the last quarter. Bamco Inc. NY grew its position in Bank of America by 45.4% during the 2nd quarter. Bamco Inc. NY now owns 40,994 shares of the financial services provider's stock worth $2,336,000 after acquiring an additional 12,794 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in Bank of America in the 2nd quarter worth about $4,089,000. Bernicke Wealth Management Ltd. bought a new position in Bank of America in the second quarter valued at about $2,132,000. Finally, Legal & General Group Plc raised its position in Bank of America by 3.4% in the fourth quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock valued at $2,497,655,000 after purchasing an additional 1,487,809 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

BAC stock opened at $61.97 on Wednesday. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The stock has a market capitalization of $433.34 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. The company's 50-day moving average is $61.35 and its 200-day moving average is $55.01. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The company's revenue for the quarter 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. This is an increase from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend payout ratio is presently 25.69%.

More Bank of America News

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

• Positive Sentiment: Stablecoin initiative could create a new payments opportunity: Bank of America is among 21 financial institutions planning to form a company that could issue a dollar-pegged stablecoin in the first half of 2027. The project may help BAC participate in faster, lower-cost digital payments, although regulatory and execution risks remain. Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027
• Positive Sentiment: Net interest income continues to support earnings: BAC’s net interest income rose 9% year over year to $31.7 billion in the first half of 2026, supported by loan and deposit growth and asset repricing. Continued gains could bolster revenue and profitability if the trend persists through year-end. BAC Records 9% Y/Y Growth in NII in 1H26
• Neutral Sentiment: Analyst commentary remains broadly constructive but cautious: Bank of America’s market signals improved from “red” to “yellow,” suggesting reduced recession concerns while still flagging elevated valuations and credit risks. Its research also highlighted commercial-loan growth tied to artificial-intelligence capital spending, a potential opportunity for BAC’s lending business.
• Neutral Sentiment: Limited direct impact from other research and corporate news: BofA named Rocket Lab and Voyager Technologies as potential SpaceX alternatives, while the reported death of a BAC vice president in a Times Square stabbing is a tragic personnel event with no indicated material effect on the company’s financial outlook. BofA names 2 SpaceX alternatives with massive upside Bank of America vice president identified as victim
• Negative Sentiment: Berkshire Hathaway’s continued selling is an overhang: Reports that Berkshire has reduced its BAC position for eight consecutive quarters may reinforce profit-taking and create concern that a major long-term shareholder has become less bullish, despite BAC’s solid operating results. Warren Buffett’s Successor, Greg Abel, Started His Tenure With a Bang

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BAC shares. Royal Bank Of Canada boosted their price target on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Truist Financial raised their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of Bank of America from $67.00 to $69.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Robert W. Baird boosted 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. Finally, Jefferies Financial Group restated a "buy" rating and issued a $75.00 price target on shares of Bank of America in a research report on Tuesday, July 14th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $64.08.

About Bank of America

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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