Twin Capital Management Inc. Buys 10,295 Shares of Bank of America Corporation $BAC

Key Points

• Twin Capital Management Inc. increased its Bank of America stake by 23.5% in the first quarter, buying 10,295 additional shares and bringing its total holdings to 54,141 shares worth about $2.64 million.
• Bank of America reported strong Q2 results, with EPS of $1.21 beating estimates and revenue rising 19.6% year over year, helped by stronger net interest income, trading, and investment banking.
• Analyst sentiment remains positive, with several firms raising price targets after earnings and the stock carrying a consensus “Moderate Buy” rating with an average target price of $63.77.

Twin Capital Management Inc. raised its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,141 shares of the financial services provider's stock after purchasing an additional 10,295 shares during the quarter. Twin Capital Management Inc.'s holdings in Bank of America were worth $2,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of BAC. Brighton Jones LLC grew its stake in shares of Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider's stock valued at $1,013,000 after purchasing an additional 6,174 shares in the last quarter. Jump Financial LLC lifted its position in shares of Bank of America by 38.4% during the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider's stock valued at $3,108,000 after purchasing an additional 18,227 shares in the last quarter. Nebula Research & Development LLC purchased a new position in Bank of America during the second quarter worth about $1,396,000. Finally, Vivaldi Capital Management LP grew its position in Bank of America by 4.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider's stock worth $417,000 after purchasing an additional 355 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Insider Activity

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares in the company, 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 filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Bank of America News Summary

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here's What's Driving It -- and Whether the Move Lasts.

Wall Street Analyst Weigh In

Several equities analysts have commented on BAC shares. The Goldman Sachs Group lifted their target price on shares of Bank of America from $58.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a report on Friday, April 24th. Royal Bank Of Canada increased their price target on Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday. Robert W. Baird lifted their price target on Bank of America from $58.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on Bank of America from $61.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average price target of $63.77.

Bank of America Stock Up 1.7%

BAC opened at $61.62 on Thursday. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.03. The company's 50-day moving average price is $54.93 and its two-hundred day moving average price is $53.05. The stock has a market cap of $437.31 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.01 and a beta of 1.17. The company has a quick ratio of 0.81, 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 (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The company had revenue of $8.08 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%. Bank of America's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. As a group, equities analysts expect that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, June 5th. Bank of America's dividend payout ratio (DPR) is currently 27.72%.

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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