Bank of America Corporation $BAC Shares Purchased by Abundance Wealth Counselors

Key Points

• Abundance Wealth Counselors increased its Bank of America stake by 85% in the second quarter, purchasing 20,298 additional shares for a total holding of 44,171 shares valued at approximately $2.52 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America exceeded quarterly expectations with $1.21 in earnings per share and $31.56 billion in revenue, up 19.6% year over year. The stock recently traded near its 52-week high, while most analysts maintain a “Moderate Buy” consensus rating.
• The company raised its quarterly dividend from $0.28 to $0.32 per share, equating to an annualized dividend of $1.28 and a 2.0% yield.

Abundance Wealth Counselors lifted its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 85.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,171 shares of the financial services provider's stock after purchasing an additional 20,298 shares during the period. Abundance Wealth Counselors' holdings in Bank of America were worth $2,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Capstone Wealth Management LLC purchased a new position in Bank of America in the 2nd quarter valued at about $498,000. Reston Wealth Management LLC increased its stake in Bank of America by 43.8% during the 2nd quarter. Reston Wealth Management LLC now owns 6,097 shares of the financial services provider's stock worth $347,000 after buying an additional 1,857 shares in the last quarter. Symmetry Partners LLC raised its holdings in shares of Bank of America by 131.9% during the second quarter. Symmetry Partners LLC now owns 10,757 shares of the financial services provider's stock valued at $613,000 after acquiring an additional 6,118 shares during the last quarter. Mosley Wealth Management raised its holdings in shares of Bank of America by 646.0% during the second quarter. Mosley Wealth Management now owns 5,304 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 4,593 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Bank of America by 0.9% in the second quarter. Cornerstone Wealth Management LLC now owns 64,609 shares of the financial services provider's stock valued at $3,681,000 after acquiring an additional 580 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Price Performance

NYSE:BAC opened at $64.45 on Monday. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.20. The stock has a market cap of $450.72 billion, a PE ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. 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 stock has a 50 day moving average price of $59.77 and a 200 day moving average price of $54.32.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.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 company posted $0.89 earnings per share. Equities research analysts expect that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given 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 of this dividend is Friday, September 4th. This is a positive change from Bank of America's previous quarterly dividend of $0.28. Bank of America's dividend 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 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 Ratings Changes

A number of brokerages have recently issued reports on BAC. Keefe, Bruyette & Woods lifted their price target on Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective 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. Citigroup raised their price objective on Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Morgan Stanley lifted their target price 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. Finally, Oppenheimer lowered shares of Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $64.08.

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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