92,500 Shares in Bank of America Corporation $BAC Acquired by Prospect Hill Management LLC

Key Points

• Prospect Hill Management acquired 92,500 Bank of America shares worth approximately $5.27 million, making BAC its eighth-largest portfolio holding and about 2% of its portfolio. Institutional investors collectively own 70.71% of the stock.
• Analysts remain broadly positive, with 21 Buy ratings and six Holds, an overall “Moderate Buy” consensus, and an average price target of $64.08. However, Oppenheimer downgraded the shares to “Market Perform.”
• Bank of America reported stronger-than-expected quarterly results, with $1.21 EPS and $31.56 billion in revenue, while raising its quarterly dividend to $0.32 per share. Shares opened at $63.17, near their 52-week high, amid valuation concerns and recent legal and leadership-related risks.

Prospect Hill Management LLC acquired 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 disclosure with the Securities & Exchange Commission. The firm acquired 92,500 shares of the financial services provider's stock, valued at approximately $5,271,000. Bank of America makes up about 2.0% of Prospect Hill Management LLC's portfolio, making the stock its 8th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in BAC. Handelsbanken Fonder AB increased its position in Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock worth $254,625,000 after buying an additional 1,603,080 shares during the last quarter. Legal & General Group Plc lifted its position in shares of 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 worth $2,497,655,000 after buying an additional 1,487,809 shares during the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Bank of America by 34.3% during the 4th quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider's stock worth $119,647,000 after acquiring an additional 555,063 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Bank of America by 217.4% during the 4th quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider's stock worth $18,037,000 after acquiring an additional 224,627 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Bank of America during the 1st quarter valued at about $67,507,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Daiwa Securities Group increased their price target on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Citigroup lifted their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Truist Financial upped their price objective on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average price target of $64.08.

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 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 1 year low of $46.12 and a 1 year high of $65.22. The firm's fifty day simple moving average is $60.35 and its 200 day simple moving average is $54.56. The firm has a market capitalization of $441.73 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.03 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.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $30.78 billion. During the same period in the prior year, the company earned $0.89 EPS. The business's quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This is an increase from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America's dividend payout ratio (DPR) is currently 25.69%.

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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