Wealthfront Advisers LLC Lowers Position in Bank of America Corporation $BAC

Key Points

• Wealthfront Advisers LLC slightly reduced its Bank of America stake in the first quarter, selling 8,715 shares and leaving it with 927,086 shares valued at about $45.2 million.
• Bank of America reported better-than-expected Q2 earnings, with EPS of $1.21 beating estimates, and revenue rising 19.6% from a year ago, helping lift the stock.
• Analysts and institutional investors remain constructive on BAC, with multiple firms raising price targets and hedge funds continuing to hold a large majority of the stock; institutions own about 70.71% of shares outstanding.

Wealthfront Advisers LLC trimmed its position in shares of Bank of America Corporation (NYSE:BAC) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 927,086 shares of the financial services provider's stock after selling 8,715 shares during the quarter. Wealthfront Advisers LLC's holdings in Bank of America were worth $45,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Bank of America during the fourth quarter worth about $4,774,210,000. Capital International Investors bought a new stake in Bank of America in the 4th quarter worth about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bank of America by 640.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider's stock valued at $2,399,798,000 after buying an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. increased its stake in Bank of America by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock valued at $35,809,225,000 after buying an additional 23,351,183 shares during the last quarter. Finally, Cardano Risk Management B.V. lifted its position in shares of Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider's stock worth $1,380,239,000 after buying an additional 22,621,546 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

More Bank of America News

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.

Bank of America Stock Up 1.7%

BAC opened at $61.62 on Thursday. Bank of America Corporation has a 12 month low of $44.75 and a 12 month high of $62.03. The company has a market cap of $437.31 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $54.93 and a 200 day moving average of $53.05.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion for 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 company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. On average, sell-side analysts expect that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Dividend Announcement

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

Insider Activity at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company's stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAC. Barclays lifted their price target on Bank of America from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 target price on shares of Bank of America in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Bank of America from $57.50 to $62.50 and gave the stock an "overweight" rating in a research note on Monday, July 6th. HSBC increased their price target on shares of Bank of America from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada raised their price objective on shares of Bank of America from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $63.77.

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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