Segall Bryant & Hamill LLC Buys New Stake in Bank of America Corporation $BAC

Key Points

• Segall Bryant & Hamill LLC acquired 192,991 Bank of America shares during the first quarter, valued at approximately $9.36 million. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Bank of America shares opened at $62.07, near their 52-week high of $62.99, with the stock trading above its 50-day and 200-day moving averages. Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $64.
• The company raised its quarterly dividend to $0.32 per share from $0.28, implying an annualized dividend of $1.28 and a yield of about 2.1%. An insider separately sold 126,756 shares for approximately $6.72 million.

Segall Bryant & Hamill LLC purchased a new stake in Bank of America Corporation (NYSE:BAC) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 192,991 shares of the financial services provider's stock, valued at approximately $9,364,000.

Several other large investors also recently bought and sold shares of the stock. Abound Financial LLC purchased a new position in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new stake in Bank of America in the third quarter valued at approximately $27,000. Legacy Bridge LLC lifted its stake in Bank of America by 182.3% in the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider's stock valued at $28,000 after buying an additional 330 shares during the last quarter. CrossGen Wealth LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $62.07 on Monday. The stock has a fifty day moving average price of $57.49 and a 200 day moving average price of $53.54. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.99. 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 cap of $440.51 billion, a PE ratio of 14.24, a P/E/G ratio of 0.99 and a beta of 1.17.

Bank of America Increases Dividend

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

Bank of America News Roundup

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

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated 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 of the company's stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BAC shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Tuesday, July 21st. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an "outperform" rating in a research note on Monday, July 6th. Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Daiwa Securities Group upped their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada increased their target price on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.00.

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.

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