Performance Wealth Partners LLC Takes $5.92 Million Position in Bank of America Corporation $BAC

Key Points

• Performance Wealth Partners purchased 103,917 Bank of America shares worth approximately $5.92 million in the second quarter. Institutional investors collectively own 70.71% of BAC.
• Bank of America exceeded quarterly expectations, reporting $1.21 in EPS and $31.56 billion in revenue, with revenue up 19.6% year over year. The bank also raised its quarterly dividend from $0.28 to $0.32 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $64.08 price target, although some caution that BAC’s valuation leaves limited room for weaker profitability or execution.

Performance Wealth Partners LLC purchased a new position in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 103,917 shares of the financial services provider's stock, valued at approximately $5,921,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Abound Financial LLC bought a new position in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at approximately $27,000. CrossGen Wealth LLC bought a new position in Bank of America during the fourth quarter worth $30,000. Joseph Group Capital Management acquired a new position in Bank of America in the fourth quarter worth $32,000. Finally, Vermillion Wealth Management Inc. increased its stake in Bank of America by 199.1% during the first quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 438 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

More 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, 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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore set a $63.00 price objective on shares of Bank of America and gave the company an "outperform" rating in a research report on Monday, July 6th. Robert W. Baird increased their price target on Bank of America from $58.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on Bank of America from $67.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Morgan Stanley raised their target price on Bank of America from $61.00 to $67.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $75.00 price target on shares of Bank of America in a report on Tuesday, July 14th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

Bank of America Stock Down 1.9%

Shares of Bank of America stock opened at $61.94 on Friday. The business's fifty day moving average price is $60.49 and its two-hundred day moving average price is $54.62. 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 company has a market capitalization of $433.13 billion, a P/E 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.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, research analysts forecast that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

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

Bank of America 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source