Janus Henderson Group PLC Buys 590,951 Shares of Bank of America Corporation $BAC

Key Points

• Janus Henderson increased its Bank of America stake by 32.7%. The fund bought 590,951 additional shares, bringing its holdings to 2.4 million shares valued at approximately $116.9 million.
• Analysts remain broadly positive on BAC. The stock has a “Moderate Buy” consensus rating from 21 Buy and six Hold ratings, with an average price target of $64.
• Bank of America raised its quarterly dividend to $0.32 per share. The new annualized dividend is $1.28, representing a 2.1% yield, while shares recently traded near their 52-week high.

Janus Henderson Group PLC increased its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 32.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,397,763 shares of the financial services provider's stock after buying an additional 590,951 shares during the period. Janus Henderson Group PLC's holdings in Bank of America were worth $116,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Money Concepts Capital Corp increased its holdings in shares of Bank of America by 3.8% during the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider's stock valued at $273,000 after acquiring an additional 182 shares in the last quarter. Operose Advisors LLC raised its position in shares of Bank of America by 0.9% in the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 185 shares during the last quarter. Asahi Life Asset Management CO. LTD. boosted its stake in Bank of America by 1.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider's stock worth $1,092,000 after purchasing an additional 187 shares in the last quarter. GatePass Capital LLC boosted its stake in Bank of America by 3.6% in the 1st quarter. GatePass Capital LLC now owns 5,451 shares of the financial services provider's stock worth $266,000 after purchasing an additional 190 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in Bank of America by 0.3% during the 4th quarter. GeoWealth Management LLC now owns 61,597 shares of the financial services provider's stock valued at $3,388,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BAC shares. Truist Financial lifted their target price 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. 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. Autonomous Res reduced their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Argus set a $70.00 price objective on shares of Bank of America in a report on Wednesday, July 15th. Finally, Evercore set a $63.00 price objective on Bank of America and gave the company an "outperform" rating in a research report on Monday, July 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Insider Transactions at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $62.07 on Friday. The firm's 50-day moving average price is $57.49 and its 200-day moving average price is $53.55. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company has a market cap of $440.51 billion, a PE ratio of 14.24, a PEG ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.99.

Bank of America Increases Dividend

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

Key Stories Impacting Bank of America

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

• Positive Sentiment: Analysts raised their outlook for BAC. JPMorgan reportedly expects Bank of America’s stock price to rise, while another analyst increased the FY2026 earnings-per-share estimate. These revisions reinforce expectations for stronger profitability and support the stock’s valuation. Bank of America stock price expected to rise FY2026 EPS estimate increased
• Positive Sentiment: Cybersecurity acquisition strengthens operational defenses. Bank of America plans to acquire U.K.-based information-security consultancy MDSec Consulting, subject to regulatory approval and expected to close in the fourth quarter of 2026. The deal is intended to bolster defenses against increasingly sophisticated AI-driven cyberattacks and ransomware. Financial terms were not disclosed, limiting the immediate earnings impact. Bank of America buys cybersecurity firm
• Positive Sentiment: Merrill Lynch is adding a sizable wealth-management team. A 14-person team managing approximately $13 billion in client assets is moving from Morgan Stanley’s Graystone Consulting. The recruitment could expand Merrill’s fee-based wealth-management revenue and deepen its affluent-client franchise. Merrill Lynch recruits $13 billion team
• Neutral Sentiment: Higher-for-longer interest rates present both benefits and risks. A hawkish Federal Reserve pause may support Bank of America’s net interest income, but prolonged high rates can pressure loan demand and increase credit-quality concerns. The broader market is also entering an uncertain August trading period, which could amplify volatility.
• Neutral Sentiment: Valuation remains a focus after substantial gains. One analysis says BAC still appears reasonably valued or discounted despite having more than doubled over three years. The stock is above both its 50-day and 200-day moving averages and near its annual high, suggesting strong momentum but also leaving shares more sensitive to disappointing results or guidance. Bank of America valuation and AI expansion

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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