Gould Asset Management LLC CA Purchases New Shares in Bank of America Corporation $BAC

Key Points

• Gould Asset Management LLC CA acquired 13,517 Bank of America shares in the second quarter, valued at approximately $770,000. Institutional investors collectively own 70.71% of BAC’s outstanding stock.
• Bank of America reported stronger-than-expected quarterly results, with EPS of $1.21 versus the $1.13 consensus estimate and revenue of $31.56 billion, up 19.6% year over year.
• The company raised its quarterly dividend from $0.28 to $0.32 per share, implying a $1.28 annualized payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.

Gould Asset Management LLC CA acquired a new position in Bank of America Corporation (NYSE:BAC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,517 shares of the financial services provider's stock, valued at approximately $770,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. grew its stake in shares of Bank of America by 3.6% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 4,889 shares of the financial services provider's stock worth $279,000 after buying an additional 168 shares during the last quarter. Orca Wealth Management LLC raised its stake in Bank of America by 0.5% during the second quarter. Orca Wealth Management LLC now owns 35,087 shares of the financial services provider's stock valued at $1,999,000 after buying an additional 179 shares during the last quarter. Financial Consulate Inc. boosted its holdings in Bank of America by 4.0% in the second quarter. Financial Consulate Inc. now owns 4,741 shares of the financial services provider's stock worth $270,000 after acquiring an additional 181 shares in the last quarter. Money Concepts Capital Corp boosted its holdings in Bank of America by 3.8% in the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock worth $273,000 after acquiring an additional 182 shares in the last quarter. Finally, Operose Advisors LLC grew its stake in shares of Bank of America by 0.9% in the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

NYSE:BAC opened at $63.17 on Thursday. The firm has a market capitalization of $441.73 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.03 and a beta of 1.17. 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 business has a 50 day simple moving average of $60.35 and a 200-day simple moving average of $54.56. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results 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. The firm had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Equities analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. Bank of America's dividend payout ratio (DPR) is 25.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BAC shares. Citigroup raised their price target on Bank of America from $62.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Morgan Stanley upped their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Wells Fargo & Company increased their price target on shares of Bank of America from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Bank of America in a research report on Tuesday, July 21st. Finally, Evercore set a $63.00 price objective on shares of Bank of America and gave the stock an "outperform" rating in a report on Monday, July 6th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.08.

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 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

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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