Gradient Investments LLC raised its position in shares of Bank of America Corporation (NYSE:BAC) by 1.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 707,836 shares of the financial services provider’s stock after purchasing an additional 11,855 shares during the period. Gradient Investments LLC’s holdings in Bank of America were worth $40,333,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of BAC. Brighton Jones LLC raised its holdings in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after buying an additional 25,143 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares in the last quarter. Jump Financial LLC grew its position in 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 acquiring an additional 18,227 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of Bank of America during the 2nd quarter valued at $1,396,000. Finally, Vivaldi Capital Management LP raised 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 during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BAC has been the subject of several recent research reports. 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. UBS Group lifted their price objective on Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial boosted their target price on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Finally, Daiwa Securities Group raised their price target on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.08.
Bank of America Trading Up 0.2%
Shares of BAC opened at $63.15 on Friday. The stock has a market capitalization of $441.61 billion, a P/E ratio of 14.48, a PEG ratio of 1.00 and a beta of 1.17. Bank of America Corporation has a twelve month low of $44.98 and a twelve month high of $63.97. 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 firm has a fifty day simple moving average of $58.64 and a two-hundred day simple moving average of $53.88.
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 issued a dividend of $0.32 per share. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is currently 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’s dividend increase is highlighted among notable 2026 dividend hikes, reinforcing the bank’s capital-return story and potentially supporting investor demand. These Outperforming Giants Are Boosting Dividends in 2026
- Positive Sentiment: Articles point to faster payment transfers and digital capabilities as potential growth drivers, helping Bank of America compete for consumer and business transactions. Can Faster Transfers Drive Growth?
- Positive Sentiment: Bank of America remains a favored outperforming bank in options commentary, suggesting some traders see additional upside after the stock’s strong run. This Outperforming Bank Stock Has More Room to Run
- Neutral Sentiment: The bank disclosed a 3.08% position in Umicore through voting rights and equivalent financial instruments. The filing reflects Bank of America’s investment or trading activities, but does not materially change its core banking outlook. Umicore Transparency Notification
- Neutral Sentiment: Management’s decision to spend more than $250 million annually on GLP-1 drugs for employees could improve workforce health and productivity, but also raises benefit costs. Bank of America Spends $250 Million Yearly on GLP-1 Drugs
- Negative Sentiment: Investment-banking co-head Mike Joo is leaving for an external opportunity, while technology executive Liu is also reportedly departing for a competitor. Multiple senior exits may raise concerns about leadership continuity and talent retention. Mike Joo to Leave Bank of America
- Negative Sentiment: Bank of America disclosed potential monetary penalties related to deficiencies in its anti-money-laundering program. The size and timing of any settlement remain key uncertainties. Bank of America Flags AML Penalty Risk
- Negative Sentiment: Bank of America strategists say their bullish sentiment gauge is at its most extreme level since 2021 and recommend reducing risk exposure. Although this is not a direct downgrade of BAC, it could limit near-term gains across financial and broader equity markets. BofA Sentiment Gauge Hits Most Extreme Bullish Level Since 2021
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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