Benjamin Edwards Inc. Has $22.73 Million Position in Bank of America Corporation $BAC

Benjamin Edwards Inc. lifted its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 37.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 398,893 shares of the financial services provider's stock after purchasing an additional 107,905 shares during the period. Benjamin Edwards Inc.'s holdings in Bank of America were worth $22,729,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Alyeska Investment Group L.P. bought a new stake in shares of Bank of America in the second quarter valued at approximately $13,005,000. Spinnaker Trust grew its stake in shares of Bank of America by 1.5% in the second quarter. Spinnaker Trust now owns 18,307 shares of the financial services provider's stock worth $1,043,000 after acquiring an additional 272 shares during the last quarter. Greenleaf Trust increased its position in Bank of America by 0.3% during the second quarter. Greenleaf Trust now owns 153,609 shares of the financial services provider's stock worth $8,753,000 after acquiring an additional 443 shares during the period. Washington Trust Bank raised its stake in Bank of America by 0.8% during the 2nd quarter. Washington Trust Bank now owns 47,520 shares of the financial services provider's stock valued at $2,708,000 after purchasing an additional 357 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its stake in Bank of America by 5.4% during the 2nd quarter. New Mexico Educational Retirement Board now owns 330,054 shares of the financial services provider's stock valued at $18,806,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Down 0.5%

BAC opened at $61.99 on Tuesday. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.22. 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 firm's fifty day moving average price is $61.27 and its two-hundred day moving average price is $54.95. The company has a market capitalization of $433.48 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.99 and a beta of 1.17.

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 (EPS) 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 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 business's revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 EPS. On average, analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm 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 $0.32 dividend. 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 dividend on an annualized basis and a yield of 2.1%. Bank of America's 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: AI investment is supporting commercial-loan growth. U.S. business lending reached $2.93 trillion, a 10% year-over-year increase and the fastest growth since March 2023. Bank of America said artificial-intelligence capital spending is a key driver, creating potential demand for financing and related banking services. US Banks Want a Bigger Piece Of The AI Trade: Here's How They're Getting It
• Positive Sentiment: Net interest income is showing strong momentum. BAC generated $31.7 billion of net interest income in the first half of 2026, up 9% from a year earlier, helped by loan and deposit growth and asset repricing. Analysts expect the trend to continue through the rest of the year, supporting revenue and earnings. BAC Records 9% Y/Y Growth in NII in 1H26: Will the Uptrend Continue?
• Positive Sentiment: Bank of America’s broader market outlook has become less defensive. Its market signals moved from “red” to “yellow,” indicating reduced concern about an immediate bear market. This could improve sentiment toward economically sensitive financial stocks, although the bank continues to flag valuation and credit risks. BofA turns S&P 500 signals from red to yellow: What to buy now
• Neutral Sentiment: Higher rate expectations create both benefits and risks. Rising odds of a Federal Reserve rate hike could support loan yields and net interest income, but may also slow economic activity, pressure borrowers and increase credit-loss concerns. Fed Rate Hike Bets Are Back
• Negative Sentiment: Valuation is limiting upside. After a strong six-month advance and solid quarterly results, commentary has highlighted BAC as a relatively risky choice at current levels, raising profit-taking concerns if earnings growth or market conditions weaken. 3 Reasons BAC is Risky and 1 Stock to Buy Instead

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research reports. Citigroup increased their price target on shares of Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Truist Financial upped their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada lifted their target price on Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Finally, UBS Group boosted their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Profile

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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