Envestnet Portfolio Solutions Inc. increased its stake in Bank of America Corporation (NYSE:BAC) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,285 shares of the financial services provider's stock after purchasing an additional 14,762 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Bank of America were worth $11,583,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its stake 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 valued at $254,625,000 after buying an additional 1,603,080 shares in the last quarter. Legal & General Group Plc raised its position in 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 acquiring an additional 1,487,809 shares in the last quarter. Mondrian Investment Partners LTD raised its position in Bank of America by 34.3% in the fourth 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 lifted its holdings in Bank of America by 217.4% in the 4th quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider's stock valued at $18,037,000 after acquiring an additional 224,627 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp lifted its holdings in Bank of America by 6.9% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 159,624 shares of the financial services provider's stock valued at $7,782,000 after acquiring an additional 10,359 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.
Key Headlines Impacting Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
- Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
- Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
- Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
- Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
- Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on BAC shares. Morgan Stanley lifted their price objective on shares of Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Oppenheimer lowered shares of Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Barclays lifted 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. UBS Group upped their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada raised 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. Twenty-one 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.
View Our Latest Analysis on BAC
Bank of America Stock Up 0.6%
BAC stock opened at $64.45 on Friday. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.20. The company's 50 day simple moving average is $59.77 and its 200-day simple moving average is $54.30. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $450.72 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.02 and a beta of 1.17.
Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 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 firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same quarter last year, the business posted $0.89 EPS. The company's revenue was up 19.6% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.
Bank of America Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. Bank of America's payout ratio is 25.69%.
Bank of America Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).
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