Gradient Investments LLC Acquires 11,855 Shares of Bank of America Corporation $BAC

Key Points

• Gradient Investments increased its Bank of America stake by 1.7% in the second quarter, purchasing 11,855 shares for a total holding of 707,836 shares valued at approximately $40.3 million.
• Institutional investors collectively own about 70.71% of Bank of America, while analysts maintain a “Moderate Buy” consensus with an average price target of $64.08.
• Bank of America raised its quarterly dividend from $0.28 to $0.32 per share, implying an annualized dividend of $1.28 and a 2.0% yield; the stock opened at $63.15, near its 52-week high.

Gradient Investments LLC boosted its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 707,836 shares of the financial services provider's stock after buying an additional 11,855 shares during the quarter. Gradient Investments LLC's holdings in Bank of America were worth $40,333,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Abound Financial LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $27,000. Legacy Bridge LLC raised its holdings in shares of Bank of America by 182.3% in the 4th quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock worth $28,000 after purchasing an additional 330 shares during the period. CrossGen Wealth LLC purchased a new position in Bank of America in the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America’s dividend increase is highlighted among notable 2026 dividend hikes, reinforcing the bank’s capital-return story and potentially supporting investor demand. These Outperforming Giants Are Boosting Dividends in 2026
• Positive Sentiment: Articles point to faster payment transfers and digital capabilities as potential growth drivers, helping Bank of America compete for consumer and business transactions. Can Faster Transfers Drive Growth?
• Positive Sentiment: Bank of America remains a favored outperforming bank in options commentary, suggesting some traders see additional upside after the stock’s strong run. This Outperforming Bank Stock Has More Room to Run
• Neutral Sentiment: The bank disclosed a 3.08% position in Umicore through voting rights and equivalent financial instruments. The filing reflects Bank of America’s investment or trading activities, but does not materially change its core banking outlook. Umicore Transparency Notification
• Neutral Sentiment: Management’s decision to spend more than $250 million annually on GLP-1 drugs for employees could improve workforce health and productivity, but also raises benefit costs. Bank of America Spends $250 Million Yearly on GLP-1 Drugs
• Negative Sentiment: Investment-banking co-head Mike Joo is leaving for an external opportunity, while technology executive Liu is also reportedly departing for a competitor. Multiple senior exits may raise concerns about leadership continuity and talent retention. Mike Joo to Leave Bank of America
• Negative Sentiment: Bank of America disclosed potential monetary penalties related to deficiencies in its anti-money-laundering program. The size and timing of any settlement remain key uncertainties. Bank of America Flags AML Penalty Risk
• Negative Sentiment: Bank of America strategists say their bullish sentiment gauge is at its most extreme level since 2021 and recommend reducing risk exposure. Although this is not a direct downgrade of BAC, it could limit near-term gains across financial and broader equity markets. BofA Sentiment Gauge Hits Most Extreme Bullish Level Since 2021

Analyst Ratings Changes

A number of analysts have issued reports on BAC shares. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. UBS Group upped their price target on Bank of America from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Monday. Piper Sandler increased their price target on Bank of America from $53.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Finally, Oppenheimer cut Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.08.

Bank of America Stock Up 0.2%

Bank of America stock opened at $63.15 on Friday. The firm has a 50 day simple moving average of $58.64 and a 200 day simple moving average of $53.88. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 1-year low of $44.98 and a 1-year high of $63.97. The firm has a market capitalization of $441.61 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.00 and a beta of 1.17.

Bank of America Increases Dividend

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

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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