Diamond Hill Capital Management LLC Investment Advisor Acquires New Shares in Bank of America Corporation $BAC

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,283,859 shares of the financial services provider's stock, valued at approximately $187,114,000. Bank of America accounts for about 1.5% of Diamond Hill Capital Management LLC Investment Advisor's portfolio, making the stock its 22nd biggest holding.

A number of other large investors have also recently made changes to their positions in BAC. Brighton Jones LLC raised its stake in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC boosted its stake in Bank of America by 40.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock worth $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC boosted its stake 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 period. Nebula Research & Development LLC purchased a new position in Bank of America during the 2nd quarter valued at about $1,396,000. Finally, Vivaldi Capital Management LP grew its holdings in Bank of America by 4.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock valued at $417,000 after buying an additional 355 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $61.94 on Friday. The business has a 50 day moving average of $60.49 and a 200 day moving average of $54.62. The company has a market capitalization of $433.13 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.01 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 company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS 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 business had revenue of $31.56 billion for the quarter, compared to analysts' expectations of $30.78 billion. During the same period last year, the business earned $0.89 earnings per share. The business's quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts predict that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. This is a positive change from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. Bank of America's dividend payout ratio is currently 25.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Bank of America from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price objective 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 target price on shares of Bank of America in a report on Tuesday, July 14th. Robert W. Baird increased their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price target on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Trending Headlines about Bank of America

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

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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