Twin Capital Management Inc. boosted its holdings in Bank of America Corporation (NYSE:BAC) by 23.5% in the first quarter, Holdings Channel reports. The institutional investor owned 54,141 shares of the financial services provider’s stock after acquiring 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 and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. Handelsbanken Fonder AB boosted its stake in Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock valued at $254,625,000 after buying an additional 1,603,080 shares during the period. Legal & General Group Plc raised its holdings in shares of Bank of America by 3.4% in the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock valued at $2,497,655,000 after acquiring an additional 1,487,809 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Bank of America by 2.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock valued at $159,794,000 after acquiring an additional 71,307 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Bank of America by 9.9% during the 4th quarter. Ritholtz Wealth Management now owns 231,018 shares of the financial services provider’s stock valued at $12,706,000 after acquiring an additional 20,819 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Bank of America by 217.4% during the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock worth $18,037,000 after purchasing an additional 224,627 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.
Insider Buying and Selling
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 shares were sold at an average price of $53.01, for a total value of $6,719,335.56. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.
Bank of America Stock Up 1.7%
Bank of America (NYSE:BAC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The business’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. As a group, analysts expect that Bank of America Corporation will post 4.51 EPS for the current fiscal year.
Bank of America Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors 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 was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.72%.
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.
Analyst Ratings Changes
BAC has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Friday, April 24th. Robert W. Baird boosted their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Argus set a $70.00 price objective on shares of Bank of America in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.
Get Our Latest Report on Bank of America
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.
Read More
- Five stocks we like better than Bank of America
- Why Johnson & Johnson’s Earnings Dip Looks Like a Buying Opportunity
- CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
- Why ASML’s AI Monopoly Is Still Getting Stronger
- Apple’s AI Toll Booth Thesis Faces Its Biggest Test Yet Before Earnings
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC – Free Report).
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.
