Bank of America Corporation $BAC Shares Acquired by Strategic Investment Advisors MI

Key Points

• Strategic Investment Advisors MI more than doubled its Bank of America stake in the first quarter, increasing holdings by 103.1% to 22,247 shares valued at approximately $1.09 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly earnings of $1.21 per share and revenue of $31.56 billion, surpassing analyst expectations; revenue rose 19.6% year over year. The company also raised its quarterly dividend from $0.28 to $0.32 per share.
• Analyst sentiment remains favorable, with 21 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $64.00. BAC recently traded at $61.76, near its 12-month high of $62.99.

Strategic Investment Advisors MI lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 103.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 22,247 shares of the financial services provider's stock after buying an additional 11,291 shares during the period. Strategic Investment Advisors MI's holdings in Bank of America were worth $1,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC grew its position in shares of Bank of America by 13.7% in the first quarter. Ashton Thomas Securities LLC now owns 27,110 shares of the financial services provider's stock valued at $1,325,000 after purchasing an additional 3,257 shares during the period. South Dakota Investment Council boosted its holdings in Bank of America by 11.7% in the first quarter. South Dakota Investment Council now owns 77,494 shares of the financial services provider's stock valued at $3,778,000 after acquiring an additional 8,100 shares during the last quarter. Encore Global Management LP acquired a new stake in Bank of America during the first quarter worth about $1,950,000. Opal Capital LLC raised its holdings in shares of Bank of America by 238.8% in the 1st quarter. Opal Capital LLC now owns 26,848 shares of the financial services provider's stock worth $1,309,000 after purchasing an additional 18,924 shares during the period. Finally, MSA Advisors LLC increased its position in Bank of America by 12.2% during the 1st quarter. MSA Advisors LLC now owns 22,433 shares of the financial services provider's stock worth $1,094,000 after purchasing an additional 2,433 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Argus set a $70.00 target price on shares of Bank of America in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. HSBC boosted their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America plans to acquire U.K.-based cybersecurity consultancy MDSec Consulting, expanding its ability to defend against AI-driven cyberattacks and ransomware. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval. Financial terms were not disclosed. Bank of America to acquire information security consultancy MDSec Consulting Limited
• Positive Sentiment: Merrill Lynch recruited a 14-person advisory team managing approximately $13 billion from Morgan Stanley’s Graystone Consulting. The move could strengthen Bank of America’s wealth-management franchise and add affluent retail and institutional relationships. Merrill Lynch Recruits $13 Billion Team From Morgan Stanley’s Graystone Consulting
• Positive Sentiment: JPMorgan raised its price target on BAC to $68 from $62.50 and assigned an Overweight rating, implying roughly 10% potential upside from the referenced price. The upgrade reinforces the view that Bank of America’s valuation remains attractive relative to its earnings outlook. JPMorgan raises Bank of America price target
• Positive Sentiment: Recent coverage highlights BAC’s second-quarter earnings and revenue beats, resilient consumer spending, a 14% dividend increase and valuation near 13 times forward earnings. These factors have helped financial stocks outperform as investors rotate away from pressured technology and AI shares. Bank of America Stock Could Stay Reasonable Despite Fresh AI Expansion News
• Neutral Sentiment: Loans backed by securities are increasingly popular among wealthy borrowers. This could support lending opportunities for Bank of America and Merrill, although the article does not identify BAC-specific business gains. How the Ultra-Rich Are Borrowing Millions Against Stock Instead of Selling
• Negative Sentiment: Analysts delivered a harsh assessment of the Federal Reserve’s decision to hold interest rates steady while inflation remains elevated. Uncertainty over the path of rates can pressure bank valuations, margins and investor sentiment. Wall Street Delivers Harsh Verdict on Warsh Fed
• Negative Sentiment: Bank stocks recently retreated from record levels ahead of the Fed meeting, showing that BAC’s strong rally remains vulnerable to interest-rate and macroeconomic developments. Bank Stocks Drop From Record Highs Ahead of Fed Meeting

Insiders Place Their Bets

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Bank of America Stock Performance

Shares of BAC opened at $61.76 on Friday. The stock has a market capitalization of $438.25 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. The business's fifty day moving average price is $57.29 and its 200 day moving average price is $53.49. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $62.99.

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 the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities research analysts forecast that Bank of America Corporation will post 4.67 EPS for the current year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of America's previous quarterly dividend of $0.28. Bank of America's payout ratio is currently 25.69%.

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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