Plato Investment Management Ltd Invests $13.05 Million in Bank of America Corporation $BAC

Plato Investment Management Ltd purchased a new stake in Bank of America Corporation (NYSE:BAC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 230,368 shares of the financial services provider's stock, valued at approximately $13,050,000. Bank of America makes up 0.7% of Plato Investment Management Ltd's holdings, making the stock its 23rd largest position.

Other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new position in Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC bought a new stake in Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC bought a new position in Bank of America in the 4th quarter valued at about $30,000. Joseph Group Capital Management bought a new stake in shares of Bank of America during the 4th quarter worth approximately $32,000. Finally, Vermillion Wealth Management Inc. lifted 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 worth $32,000 after purchasing an additional 438 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

Shares of BAC stock opened at $61.94 on Friday. The stock has a market capitalization of $433.13 billion, a PE ratio of 14.21, a PEG ratio of 1.01 and a beta of 1.17. The business's 50 day simple moving average is $60.49 and its 200 day simple moving average 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. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.22.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company's revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 EPS. As a group, research analysts forecast that Bank of America Corporation will post 4.68 earnings per share 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. Investors of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a boost from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, September 4th. Bank of America's payout ratio is 25.69%.

Key Stories Impacting Bank of America

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

Analyst Upgrades and Downgrades

BAC has been the topic of several research analyst reports. Oppenheimer lowered Bank of America from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Bank of America from $62.50 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Daiwa Securities Group raised their price target on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Evercore set a $63.00 price target on shares of Bank of America and gave the company an "outperform" rating in a report on Monday, July 6th. Finally, Barclays upped their price objective on shares of Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.08.

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.

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