Bank of America Corporation $BAC Shares Sold by Brave Asset Management Inc.

Brave Asset Management Inc. lowered its holdings in Bank of America Corporation (NYSE:BAC) by 25.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,999 shares of the financial services provider's stock after selling 9,400 shares during the quarter. Brave Asset Management Inc.'s holdings in Bank of America were worth $1,538,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BAC. Money Concepts Capital Corp raised its holdings in Bank of America by 3.8% in the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after buying an additional 182 shares during the period. Operose Advisors LLC boosted its stake in 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 worth $1,123,000 after buying an additional 185 shares during the period. Asahi Life Asset Management CO. LTD. boosted its stake in Bank of America by 1.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after buying an additional 187 shares during the period. GatePass Capital LLC increased its position in shares of Bank of America by 3.6% during the first quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 190 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in shares of Bank of America by 0.3% during the fourth quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider's stock valued at $3,388,000 after acquiring an additional 191 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

More Bank of America News

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

• Positive Sentiment: Bank of America’s 2026 dividend increase highlights continued confidence in capital generation and supports the investment case for income-oriented shareholders. These Outperforming Giants Are Boosting Dividends in 2026
• Positive Sentiment: CEO Brian Moynihan continues to forecast three Federal Reserve rate hikes in 2026. Higher rates could support Bank of America’s net interest income, although the outlook depends on inflation and economic conditions. Brace for Three Rate Hikes in 2026, Says Bank of America’s CEO
• Positive Sentiment: Bank of America’s decision to spend more than $250 million annually on GLP-1 medications for employees may raise near-term healthcare costs, but management views the program as an investment in employee health and retention. Bank of America spends $250 million a year on GLP-1 drugs
• Neutral Sentiment: Bank of America’s research team remains active across technology and financial markets, including constructive views on AI-chip demand. The activity may support investment-banking and trading opportunities but does not directly change BAC’s earnings outlook. Nvidia dominates AI chips, but BofA sees AMD closing in
• Negative Sentiment: Investment-banking co-head Mike Joo is leaving Bank of America for an external opportunity only a year after taking the role. The high-profile departure raises concerns about leadership continuity and potential talent retention during a strong dealmaking environment. Bank of America’s co-head of investment banking Mike Joo to leave firm
• Negative Sentiment: Himalaya Capital, managed by Charlie Munger associate Li Lu, reportedly reduced its Bank of America position by roughly 71%. While one investor’s portfolio decision does not alter fundamentals, it can weigh on sentiment. Charlie Munger’s Only Outside Manager Just Sold a Bank
• Negative Sentiment: Bank of America disclosed that it may face monetary penalties from the OCC related to anti-money-laundering deficiencies. The potential resolution introduces regulatory-cost and compliance-risk overhang. Bank of America Signals OCC Penalties Over Anti Money Laundering Deficiencies

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Wells Fargo & Company upped 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. Barclays lifted their target price on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Morgan Stanley upped their price target on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Piper Sandler raised their price target on Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Finally, UBS Group lifted their price objective on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Stock Down 0.5%

Shares of Bank of America stock opened at $62.95 on Friday. Bank of America Corporation has a 52-week low of $44.78 and a 52-week high of $63.97. The company has a 50 day moving average of $58.40 and a 200 day moving average of $53.82. 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 company has a market capitalization of $440.17 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.01 and a beta of 1.17.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is an increase from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America's payout ratio is presently 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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