Bank of America Corporation $BAC Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Key Points

• Harel Insurance Investments & Financial Services Ltd. cut its Bank of America stake by 91.2% in the first quarter, selling 1.27 million shares and leaving it with 122,490 shares worth about $5.97 million.
• Bank of America’s stock was up 1.7% to $61.62, near its 52-week high of $62.03, with the company valued at about $437.3 billion and trading at a P/E of 14.13.
• Recent results and analyst views were positive: BAC reported Q2 EPS of $1.21, above expectations, and several brokerages raised price targets; the consensus rating remains “Moderate Buy” with a target price of $63.77.

Harel Insurance Investments & Financial Services Ltd. trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 91.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,490 shares of the financial services provider's stock after selling 1,270,715 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Bank of America were worth $5,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BAC. DecisionMap Wealth Management LLC grew its stake in shares of Bank of America by 4.7% in the fourth quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider's stock worth $223,000 after acquiring an additional 182 shares in the last quarter. Money Concepts Capital Corp lifted its position in shares of Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after buying an additional 182 shares during the last quarter. Holistic Financial Partners increased its position in Bank of America by 2.4% during the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider's stock worth $434,000 after buying an additional 183 shares during the period. Operose Advisors LLC grew its stake in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 185 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. raised its position in Bank of America by 1.0% during the 4th 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 last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 1.7%

NYSE:BAC opened at $61.62 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $437.31 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.03. The stock has a 50 day moving average of $54.93 and a 200-day moving average of $53.05.

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 business had revenue of $8.08 billion for the quarter, compared to analysts' expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. Analysts predict that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America's payout ratio is 27.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAC. UBS Group upped their price objective on Bank of America from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Argus set a $70.00 price objective on shares of Bank of America in a research report on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research note on Friday, April 24th. The Goldman Sachs Group boosted their target price on Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $75.00 price target on shares of Bank of America in a report on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.77.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the insider directly 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 document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

More Bank of America News

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here's What's Driving It -- and Whether the Move Lasts.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.