WNY Asset Management LLC Buys Shares of 18,217 Bank of America Corporation $BAC

Key Points

• WNY Asset Management acquired 18,217 Bank of America shares during the first quarter, worth approximately $888,000. Institutional investors and hedge funds collectively own 70.71% of BAC.
• Analysts maintain a generally positive view, with 21 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $64.00.
• Bank of America shares opened at $62.07, near their 52-week high of $62.99, while the company raised its quarterly dividend from $0.28 to $0.32 per share, equating to a 2.1% annualized yield.

WNY Asset Management LLC bought a new stake in Bank of America Corporation (NYSE:BAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,217 shares of the financial services provider's stock, valued at approximately $888,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Bank of America during the fourth quarter worth approximately $4,774,210,000. Capital International Investors purchased a new position in Bank of America in the 4th quarter valued at $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of America by 640.5% during 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 worth $2,399,798,000 after purchasing an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. boosted its stake in Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider's stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the last quarter. Finally, Cardano Risk Management B.V. grew its holdings in shares of Bank of America by 914.5% during the fourth 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. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of America

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

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Robert W. Baird increased their target price on shares of Bank of America from $58.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an "outperform" rating in a research report on Monday, July 6th. Daiwa Securities Group upped their price objective 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. UBS Group increased their price objective on shares of Bank of America from $63.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Autonomous Res decreased their target price on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.00.

Bank of America Stock Up 0.6%

NYSE BAC opened at $62.07 on Friday. Bank of America Corporation has a 52 week low of $44.75 and a 52 week high of $62.99. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The business's fifty day simple moving average is $57.49 and its 200-day simple moving average is $53.55. The firm 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 disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This is an increase from Bank of America's previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.1%. Bank of America's dividend payout ratio (DPR) is 25.69%.

Insider Transactions 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 dated 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 $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

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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