Montanova Capital LLC Lowers Stock Position in Bank of America Corporation $BAC

Key Points

• Montanova Capital reduced its Bank of America position by 39% in the second quarter, selling 505,525 shares and retaining 789,720 shares valued at approximately $45 million.
• Bank of America reported stronger-than-expected quarterly results, with earnings of $1.21 per share 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, while analysts maintained a “Moderate Buy” consensus rating and a $64.08 average price target.

Montanova Capital LLC cut its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 39.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 789,720 shares of the financial services provider's stock after selling 505,525 shares during the period. Montanova Capital LLC's holdings in Bank of America were worth $44,998,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in 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 acquiring an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of 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 acquiring an additional 6,174 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Bank of America by 38.4% during 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 purchased a new stake in shares of Bank of America during the 2nd quarter worth $1,396,000. Finally, Vivaldi Capital Management LP boosted its position in Bank of America by 4.2% during 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 in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.5%

Bank of America stock opened at $61.99 on Tuesday. The stock has a 50-day moving average price of $61.27 and a 200 day moving average price of $54.95. The company has a market capitalization of $433.48 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

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 earnings per share for the quarter, topping 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 company had revenue of $31.56 billion for the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the company earned $0.89 EPS. Bank of America's quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

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

Key Headlines Impacting Bank of America

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

• Positive Sentiment: AI investment is supporting commercial-loan growth. U.S. business lending reached $2.93 trillion, a 10% year-over-year increase and the fastest growth since March 2023. Bank of America said artificial-intelligence capital spending is a key driver, creating potential demand for financing and related banking services. US Banks Want a Bigger Piece Of The AI Trade: Here's How They're Getting It
• Positive Sentiment: Net interest income is showing strong momentum. BAC generated $31.7 billion of net interest income in the first half of 2026, up 9% from a year earlier, helped by loan and deposit growth and asset repricing. Analysts expect the trend to continue through the rest of the year, supporting revenue and earnings. BAC Records 9% Y/Y Growth in NII in 1H26: Will the Uptrend Continue?
• Positive Sentiment: Bank of America’s broader market outlook has become less defensive. Its market signals moved from “red” to “yellow,” indicating reduced concern about an immediate bear market. This could improve sentiment toward economically sensitive financial stocks, although the bank continues to flag valuation and credit risks. BofA turns S&P 500 signals from red to yellow: What to buy now
• Neutral Sentiment: Higher rate expectations create both benefits and risks. Rising odds of a Federal Reserve rate hike could support loan yields and net interest income, but may also slow economic activity, pressure borrowers and increase credit-loss concerns. Fed Rate Hike Bets Are Back
• Negative Sentiment: Valuation is limiting upside. After a strong six-month advance and solid quarterly results, commentary has highlighted BAC as a relatively risky choice at current levels, raising profit-taking concerns if earnings growth or market conditions weaken. 3 Reasons BAC is Risky and 1 Stock to Buy Instead

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BAC shares. Oppenheimer downgraded shares of Bank of America from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. Barclays raised their price target on shares of Bank of America from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective 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. Robert W. Baird increased their target price on shares of Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Argus set a $70.00 target price on shares of Bank of America 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

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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