Bellars Harris Wealth Management LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,201 shares of the financial services provider's stock, valued at approximately $467,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Bank of America during the fourth quarter valued at about $4,774,210,000. Capital International Investors bought a new position in shares of Bank of America in the fourth quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Bank of America by 640.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock worth $2,399,798,000 after buying an additional 40,235,201 shares during the period. Vanguard Group Inc. lifted its position in shares of Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after buying an additional 23,351,183 shares in the last quarter. Finally, Cardano Risk Management B.V. increased its holdings in Bank of America by 914.5% in the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock worth $1,380,239,000 after acquiring an additional 22,621,546 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
Bank of America Stock Down 1.7%
Shares of BAC opened at $63.17 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $441.73 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The business's 50 day simple moving average is $60.35 and its 200-day simple moving average is $54.56.
Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results 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. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period last year, the firm posted $0.89 earnings per share. Bank of America's revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.
Bank of America Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend 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 yield of 2.0%. Bank of America's payout ratio is presently 25.69%.
Analysts Set New Price Targets
A number of equities research analysts have commented on BAC shares. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an "outperform" rating in a research note on Monday, July 6th. Barclays increased their price objective on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Robert W. Baird raised their price objective on shares of Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 price target on shares of Bank of America in a report on Tuesday, July 14th. Finally, 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. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $64.08.
Read Our Latest Stock Analysis on BAC
Bank of America News Summary
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 for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
- Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
- Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
- Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
- Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
- Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs
About Bank of America
(
Free Report)
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.
Further Reading
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).
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