AMG National Trust Bank Purchases Shares of 44,072 Bank of America Corporation $BAC

Key Points

• AMG National Trust Bank purchased 44,072 Bank of America shares during the second quarter, valued at approximately $2.51 million. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America reported stronger-than-expected quarterly results, with EPS of $1.21 and revenue of $31.56 billion, up 19.6% year over year. The bank also raised its quarterly dividend from $0.28 to $0.32 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $64.08 price target, although some analysts caution that BAC’s valuation leaves limited room for weaker profitability or execution.

AMG National Trust Bank purchased a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 44,072 shares of the financial services provider's stock, valued at approximately $2,511,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Bank of America by 53.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock worth $254,625,000 after acquiring an additional 1,603,080 shares in the last quarter. Legal & General Group Plc raised its position in Bank of America by 3.4% during 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 acquiring an additional 1,487,809 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Bank of America by 34.3% during the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider's stock valued at $119,647,000 after purchasing an additional 555,063 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Bank of America during the first quarter valued at $67,507,000. Finally, International Assets Investment Management LLC grew its position in shares of Bank of America by 217.4% in the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider's stock valued at $18,037,000 after purchasing an additional 224,627 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America News Roundup

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Citigroup lifted 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of America in a research note on Tuesday, July 21st. Robert W. Baird increased their target price on Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Daiwa Securities Group raised their target price on Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Stock Performance

BAC opened at $61.94 on Friday. Bank of America Corporation has a twelve month low of $46.12 and a twelve month high of $65.22. The firm has a market capitalization of $433.13 billion, a PE ratio of 14.21, a PEG 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 firm's 50-day moving average price is $60.49 and its 200 day moving average price is $54.62.

Bank of America (NYSE:BAC - Get Free Report) last released 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 net margin of 17.56% and a return on equity of 12.20%. The company had revenue of $31.56 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Bank of America's quarterly revenue was up 19.6% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.32 dividend. This is a boost from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America's payout ratio is 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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