Evolve Private Wealth LLC Makes New Investment in Bank of America Corporation $BAC

Posted by Francis Steltz on Aug 26th, 2026

Evolve Private Wealth LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 39,404 shares of the financial services provider’s stock, valued at approximately $2,245,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings 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 during the period. Sivia Capital Partners LLC raised its holdings in 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 worth $1,013,000 after purchasing an additional 6,174 shares during the last quarter. Jump Financial LLC raised its holdings 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 worth $3,108,000 after purchasing an additional 18,227 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Bank of America during the second quarter worth $1,396,000. Finally, Vivaldi Capital Management LP boosted its position in Bank of America by 4.2% during the second 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. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Key Bank of America News

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

Positive Sentiment: Bank of America’s analysts continue to favor value stocks, arguing they are well positioned in an environment of higher interest rates and inflation. This supports the broader investment case for BAC, which trades at a relatively moderate earnings multiple and could benefit from durable net interest income. Stick with value stocks until everyone is talking about them
Positive Sentiment: BofA Global Research says Federal Reserve corporate-credit facilities remain available to limit downside risks in a debt-heavy artificial-intelligence investment cycle. A continued backstop could reduce systemic credit concerns that might otherwise pressure large banks. The debt-fueled AI build-out may already be too big to fail
Neutral Sentiment: Strategist Michael Hartnett remains bullish on gold, citing concerns about U.S. government debt and currency debasement. The view may support trading and advisory activity at BAC, although it is not a direct change to the bank’s earnings outlook. Why Bank of America strategist Michael Hartnett says the trade is still long gold
Neutral Sentiment: Bank of America disclosed several changes to indirect equity holdings through Merrill Lynch, including a stake above 10% in Lakefront Biotherapeutics and a reduced position in Hidropar. These appear to be portfolio or client-related transactions rather than a material strategic investment in BAC’s own business. Bank of America builds 10% stake in Lakefront Biotherapeutics
Negative Sentiment: Bank of America reportedly spends at least $250 million annually on GLP-1 weight-loss drugs for employees. Management views the benefit as an investment in worker health, but the significant recurring expense could weigh on operating costs if it does not produce measurable savings in health-care claims or employee retention. Bank of America is spending $250 million a year on weight loss drugs for employees

Bank of America Price Performance

BAC stock opened at $62.50 on Wednesday. The stock has a market capitalization of $437.04 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 52-week low of $46.12 and a 52-week high of $65.22. The stock’s fifty day simple moving average is $60.84 and its 200-day simple moving average is $54.78.

Bank of America (NYSE:BAC – Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.13 by $0.08. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities research analysts expect that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.32 dividend. This is a positive change 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 yield of 2.0%. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Bank of America from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Barclays lifted their price target on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $62.50 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Truist Financial increased their price objective on shares of Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.08.

View Our Latest Stock Analysis on BAC

Bank of America Profile

(Free Report)

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.