Axiom Investment Management LLC Buys Shares of 25,541 Bank of America Corporation $BAC

Key Points

• Axiom Investment Management acquired 25,541 Bank of America shares worth approximately $1.25 million in the first quarter. Institutional investors collectively own 70.71% of BAC.
• Analyst sentiment remains positive, with 21 Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $64.
• Bank of America raised its quarterly dividend to $0.32 per share, or $1.28 annually, representing a 2.1% yield. BAC recently traded at $62.07, near its 52-week high of $62.99.

Axiom Investment Management LLC purchased a new stake in Bank of America Corporation (NYSE:BAC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,541 shares of the financial services provider's stock, valued at approximately $1,245,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAC. WNY Asset Management LLC acquired a new stake in shares of Bank of America during the first quarter valued at $888,000. Segall Bryant & Hamill LLC acquired a new position in Bank of America in the 1st quarter valued at about $9,364,000. Wellington Grp LLC lifted its holdings in Bank of America by 48.0% in the 1st quarter. Wellington Grp LLC now owns 11,918 shares of the financial services provider's stock valued at $581,000 after purchasing an additional 3,864 shares in the last quarter. Montchanin Asset Management LLC purchased a new position in Bank of America in the 1st quarter valued at about $249,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Bank of America during the 1st quarter worth about $98,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Bank of America from $67.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Evercore set a $63.00 price objective on Bank of America and gave the stock an "outperform" rating in a report on Monday, July 6th. Autonomous Res lowered their price objective on Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Royal Bank Of Canada upped their target price on Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group raised their price target on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average target price of $64.00.

Key Headlines Impacting Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Analysts raised their outlook for BAC. JPMorgan reportedly expects Bank of America’s stock price to rise, while another analyst increased the FY2026 earnings-per-share estimate. These revisions reinforce expectations for stronger profitability and support the stock’s valuation. Bank of America stock price expected to rise FY2026 EPS estimate increased
• Positive Sentiment: Cybersecurity acquisition strengthens operational defenses. Bank of America plans to acquire U.K.-based information-security consultancy MDSec Consulting, subject to regulatory approval and expected to close in the fourth quarter of 2026. The deal is intended to bolster defenses against increasingly sophisticated AI-driven cyberattacks and ransomware. Financial terms were not disclosed, limiting the immediate earnings impact. Bank of America buys cybersecurity firm
• Positive Sentiment: Merrill Lynch is adding a sizable wealth-management team. A 14-person team managing approximately $13 billion in client assets is moving from Morgan Stanley’s Graystone Consulting. The recruitment could expand Merrill’s fee-based wealth-management revenue and deepen its affluent-client franchise. Merrill Lynch recruits $13 billion team
• Neutral Sentiment: Higher-for-longer interest rates present both benefits and risks. A hawkish Federal Reserve pause may support Bank of America’s net interest income, but prolonged high rates can pressure loan demand and increase credit-quality concerns. The broader market is also entering an uncertain August trading period, which could amplify volatility.
• Neutral Sentiment: Valuation remains a focus after substantial gains. One analysis says BAC still appears reasonably valued or discounted despite having more than doubled over three years. The stock is above both its 50-day and 200-day moving averages and near its annual high, suggesting strong momentum but also leaving shares more sensitive to disappointing results or guidance. Bank of America valuation and AI expansion

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Up 0.6%

BAC opened at $62.07 on Friday. The firm has a 50 day moving average price of $57.49 and a 200 day moving average price of $53.55. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.99. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market cap of $440.51 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

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. 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 payout ratio 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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