Boston Common Asset Management LLC Reduces Holdings in Bank of America Corporation $BAC

Key Points

• Boston Common Asset Management cut its Bank of America position by 12.3% in the second quarter, selling 29,535 shares and retaining 210,557 shares valued at approximately $12 million. Institutional investors collectively own 70.71% of BAC.
• Bank of America reported quarterly EPS of $1.21, exceeding estimates of $1.13, while revenue rose 19.6% year over year to $31.56 billion. The company also increased its quarterly dividend from $0.28 to $0.32 per share, equivalent to a 2.0% annualized yield.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $64.08 target price; however, BAC shares were trading near their 52-week high at $64.45, increasing the risk of profit-taking if earnings or strategic initiatives disappoint.

Boston Common Asset Management LLC lowered its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 12.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,557 shares of the financial services provider's stock after selling 29,535 shares during the period. Boston Common Asset Management LLC's holdings in Bank of America were worth $11,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after acquiring an additional 25,143 shares during the period. Sivia Capital Partners LLC boosted its stake in Bank of America by 40.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC grew its position in Bank of America by 38.4% in the 2nd quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock worth $3,108,000 after purchasing an additional 18,227 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Bank of America in the second quarter valued at approximately $1,396,000. Finally, Vivaldi Capital Management LP increased its stake in shares of Bank of America by 4.2% in the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

More Bank of America News

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

• Positive Sentiment: Bank of America agreed to acquire up to a 49.9% stake in India’s Jio Credit for approximately $1.9 billion. The partnership could give BAC access to Jio Financial Services’ large digital distribution network and expand its presence in India’s rapidly growing consumer-credit market. Bank of America to acquire 49.9% of India’s Jio Credit
• Positive Sentiment: An analyst boosted Bank of America’s fiscal 2026 EPS estimate, adding to the positive earnings outlook after the company recently exceeded quarterly EPS and revenue expectations. Revenue also grew 19.6% year over year in the latest reported quarter. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Positive Sentiment: One valuation analysis characterized BAC as still undervalued despite a roughly 139% three-year gain, citing earnings-based multiples and an intrinsic-value model. That view may support continued investor interest in the shares. Bank of America Stock Still Looks Like a Bargain
• Neutral Sentiment: Bank of America’s research teams remain active across artificial intelligence, biotechnology, retail and other sectors. The coverage—including bullish views on AI-related stocks—may reinforce the firm’s investment-banking and research profile, but it is not a direct change to BAC’s earnings outlook. 16 beaten-down AI stocks that are beloved by BofA analysts
• Neutral Sentiment: A Bank of America strategist continues to forecast three Federal Reserve rate hikes, arguing that inflation-related tightening is incomplete. Persistently firm rates could support lending margins, but they may also slow credit demand and increase economic or credit-quality risks. BofA Exec Still Calls For 3 Fed Rate Hikes
• Negative Sentiment: BAC’s shares have risen sharply and now trade close to their annual high, making future gains more dependent on earnings growth and successful execution of initiatives such as the Jio Credit investment. The elevated valuation increases the risk of profit-taking if results or guidance disappoint.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Argus set a $70.00 price target on Bank of America in a research note on Wednesday, July 15th. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Wells Fargo & Company upped their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Truist Financial raised 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 note on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

Bank of America Price Performance

Shares of BAC opened at $64.45 on Friday. The business's 50-day moving average is $59.77 and its 200-day moving average is $54.30. 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 company has a market capitalization of $450.72 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.02 and a beta of 1.17. Bank of America Corporation has a fifty-two week low of $46.12 and a fifty-two week high of $65.20.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts expect that Bank of America Corporation will post 4.68 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.0%. 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. Bank of America's payout ratio is currently 25.69%.

Bank of America Company 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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