40,609,919 Shares in Bank of America Corporation $BAC Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 40.6 million Bank of America shares worth approximately $2.31 billion during the second quarter, giving it about a 0.58% stake. Institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, beating estimates by $0.08, while revenue rose 19.6% year over year to $31.56 billion. The company also increased its quarterly dividend from $0.28 to $0.32 per share, implying a 2.1% yield.
• Analyst sentiment remains positive, with 21 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $64.08, modestly above the reported $61.94 share price.

Bank of New York Mellon Corp purchased a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 40,609,919 shares of the financial services provider's stock, valued at approximately $2,313,953,000. Bank of New York Mellon Corp owned approximately 0.58% of Bank of America at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BAC. Total Clarity Wealth Management Inc. increased its position in shares of 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 acquiring an additional 168 shares in the last quarter. Orca Wealth Management LLC raised its stake in shares of Bank of America by 0.5% in the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock worth $1,999,000 after purchasing an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its position in shares of 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 buying an additional 181 shares during the last quarter. Money Concepts Capital Corp grew its holdings in Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after buying an additional 182 shares in the last quarter. Finally, Operose Advisors LLC grew its holdings in shares of Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Down 1.9%

BAC opened at $61.94 on Friday. Bank of America Corporation has a 12 month low of $46.12 and a 12 month high of $65.22. The company has a market cap of $433.13 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $60.49 and a 200 day moving average of $54.62.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The business's quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend 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 25.69%.

Analysts Set New Price Targets

BAC has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Daiwa Securities Group raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Robert W. Baird lifted their price target 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. Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Finally, Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $64.08.

Trending Headlines about 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

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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