Abbot Financial Management Inc. Buys Shares of 96,655 Bank of America Corporation $BAC

Abbot Financial Management Inc. purchased a new position in shares of Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 96,655 shares of the financial services provider's stock, valued at approximately $5,507,000. Bank of America accounts for approximately 1.9% of Abbot Financial Management Inc.'s portfolio, making the stock its 11th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in shares of Bank of America during the 4th quarter valued at about $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter worth $30,000. Joseph Group Capital Management purchased a new position in Bank of America in the fourth quarter worth $32,000. Finally, Vermillion Wealth Management Inc. grew its position in 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 worth $32,000 after acquiring an additional 438 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Down 1.9%

Shares of NYSE:BAC opened at $61.94 on Friday. The stock's 50-day moving average price is $60.49 and its 200-day moving average price is $54.62. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The stock has a market capitalization of $433.13 billion, a P/E 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.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities analysts anticipate that Bank of America Corporation will post 4.68 earnings per share 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. Shareholders of record on Friday, September 4th will be given a $0.32 dividend. The ex-dividend date is Friday, September 4th. 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%. Bank of America's dividend payout ratio is presently 25.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BAC shares. UBS Group raised their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Citigroup upped their price objective on Bank of America from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Barclays increased their price objective on Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Truist Financial boosted their target price on Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Finally, Evercore set a $63.00 target price on Bank of America and gave the stock an "outperform" rating in a research note on Monday, July 6th. Twenty-one 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 currently has an average rating of "Moderate Buy" and an average target price of $64.08.

More 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, 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

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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