Baxter Bros Inc. Invests $1.92 Million in Bank of America Corporation $BAC

Baxter Bros Inc. purchased a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 33,732 shares of the financial services provider's stock, valued at approximately $1,922,000.

A number of other hedge funds have also recently modified their holdings of BAC. Vanguard Group Inc. lifted its holdings in Bank of America by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after purchasing an additional 23,351,183 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of America in the fourth quarter worth $4,774,210,000. Bank of New York Mellon Corp raised its position in shares of Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider's stock valued at $3,169,062,000 after purchasing an additional 2,929,779 shares during the period. Fisher Asset Management LLC raised its position in shares of Bank of America by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider's stock valued at $2,958,110,000 after purchasing an additional 1,105,833 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Bank of America by 5.9% during the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider's stock valued at $2,594,488,000 after buying an additional 2,611,776 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of BAC stock opened at $61.94 on Friday. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The firm has a market capitalization of $433.13 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.01 and a beta of 1.17. The stock has a 50 day moving average price of $60.49 and a 200 day moving average price of $54.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.08. The company 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% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. As a group, sell-side analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.32 dividend. 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 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio is presently 25.69%.

Key Bank of America News

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

• Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard, supporting BAC’s consumer-banking and digital-lending capabilities. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
• Positive Sentiment: Bank of America’s bullish research on Nvidia, Zoom and software stocks reinforces the breadth and influence of its securities-research and investment-banking franchise, although the recommendations primarily affect those companies rather than BAC’s earnings directly. Bank of America Thinks Nvidia Stock Could Go 50% Higher
• Neutral Sentiment: BofA appointed Yuta Komori as chair of Asia Pacific Global Industrials Investment Banking and named Meng Gao and Masashi Toda as co-heads, a move that could strengthen regional coverage but is unlikely to materially change near-term financial results. Bank of America names new Asia Pacific industrials banking leadership team
• Neutral Sentiment: BofA surveys show investors still favor technology but are increasingly hedging against AI risks and adopting defensive positions. The cautious tone may temper trading activity and risk appetite across financial markets, while expectations for a “no landing” economy could support interest income. BofA Survey Shows Record Expectations for No Landing
• Negative Sentiment: An analysis argues that BAC’s current valuation already assumes roughly a 16% terminal return on tangible common equity, leaving limited room for execution mistakes or weaker profitability and supporting a “hold” view. Bank of America: Current Price Already Requires a 16% Terminal ROTCE
• Negative Sentiment: Bank of America has significantly lagged BNY Mellon in 2026, highlighting relative-performance concerns and potentially reducing investor enthusiasm for the bank trade. Which Big Bank Stock Has Dominated in 2026

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BAC. Royal Bank Of Canada upped 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. Morgan Stanley boosted their price target on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Oppenheimer lowered shares of Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Argus set a $70.00 price objective on shares of Bank of America in a research report on Wednesday, July 15th. Finally, Evercore set a $63.00 target price on shares of Bank of America and gave the stock an "outperform" rating in a report on Monday, July 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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