Avalon Trust Co Acquires Shares of 10,603 Bank of America Corporation $BAC

Key Points

• Avalon Trust Co. acquired 10,603 Bank of America shares worth approximately $604,000 during the second quarter. Institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion.
• The company increased its quarterly dividend from $0.28 to $0.32 per share, equivalent to a 2.0% annual yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.

Avalon Trust Co purchased a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,603 shares of the financial services provider's stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Total Clarity Wealth Management Inc. raised its position in shares of Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 168 shares in the last quarter. Orca Wealth Management LLC grew its position in shares of Bank of America by 0.5% during the 2nd quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock valued at $1,999,000 after buying an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its stake in Bank of America by 4.0% in the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 181 shares during the period. Money Concepts Capital Corp grew its holdings in shares of 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 valued at $273,000 after purchasing an additional 182 shares during the last quarter. Finally, Operose Advisors LLC grew its holdings in shares of Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Down 1.7%

Shares of Bank of America stock opened at $63.17 on Thursday. Bank of America Corporation has a 12-month low of $46.12 and a 12-month high of $65.22. The firm has a market capitalization of $441.73 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The stock's fifty day moving average is $60.35 and its 200-day moving average is $54.56.

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 (EPS) for the quarter, topping 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. The company's revenue was up 19.6% compared to the same quarter last year. 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. Stockholders of record on Friday, September 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is presently 25.69%.

Key Headlines 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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAC shares. Royal Bank Of Canada upped their price objective on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Robert W. Baird boosted their price target on shares of Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Barclays upped their price target on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Wells Fargo & Company increased their price objective on shares of Bank of America from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Oppenheimer downgraded shares of Bank of America from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Company 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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