S&CO Inc. bought a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 92,484 shares of the financial services provider’s stock, valued at approximately $5,269,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in Bank of America by 53.0% during the 4th 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 lifted its stake 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 worth $2,497,655,000 after acquiring an additional 1,487,809 shares during the period. Mondrian Investment Partners LTD boosted its holdings in shares of Bank of America by 34.3% in the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock valued at $119,647,000 after acquiring an additional 555,063 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Bank of America by 217.4% in the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock valued at $18,037,000 after acquiring an additional 224,627 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Bank of America during the first quarter valued at approximately $67,507,000. Institutional investors and hedge funds own 70.71% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on BAC. Barclays boosted their target price on Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Argus set a $70.00 price target on Bank of America in a research note on Wednesday, July 15th. Robert W. Baird lifted 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. Morgan Stanley boosted their price objective on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective on shares of Bank of America in a report on Tuesday, July 14th. Twenty-one investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.08.
Bank of America Price Performance
Shares of NYSE:BAC opened at $63.17 on Thursday. The company’s fifty day moving average is $60.35 and its two-hundred day moving average is $54.56. 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 12-month low of $46.12 and a 12-month high of $65.22. The company has a market cap of $441.73 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.
Bank of America (NYSE:BAC – Get Free Report) last issued its 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. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The business had revenue of $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. During the same quarter last year, the firm posted $0.89 earnings per share. Bank of America’s revenue was up 19.6% compared to the same quarter last year. Equities analysts expect that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.
Bank of America Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a yield of 2.0%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is currently 25.69%.
Key Headlines Impacting Bank of America
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America and PNC tied for first place in Keynova Group’s 2026 Mortgage-Home Equity Scorecard for digital customer experience. The recognition supports BAC’s technology investments and its competitive position in mortgage and home-equity services. Home Lenders Enhance Digital Impact with Accelerated Closing and Funding, Relationship Value-Adds and Visual Consumer-Education Content
- Positive Sentiment: BAC appointed new leadership for its Asia-Pacific industrials investment-banking group, including Yuta Komori as chair and Meng Gao and Masashi Toda as co-heads. The move could support future advisory and capital-markets growth in the region. Bank of America names new Asia Pacific industrials banking leadership team
- Neutral Sentiment: Bank of America’s market strategists continued to attract attention with views on artificial-intelligence spending, bond-market risks, gold and global economic conditions. These calls may enhance the firm’s research profile but are not direct earnings catalysts for BAC.
- Negative Sentiment: A Seeking Alpha analysis maintained a “Hold” view, arguing that BAC’s current valuation already assumes approximately a 16% terminal return on tangible common equity. With shares trading well above their 200-day average and near the 52-week high, investors may be demanding strong future profitability. Bank of America: Current Price Already Requires A 16 Percent Terminal ROTCE
- Negative Sentiment: Bank of America was among six financial institutions agreeing to an $86.4 million settlement resolving allegations of Mexican bond-market manipulation. Although the cost is spread across the banks, the agreement adds legal and regulatory expense and reputational risk. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case
- Negative Sentiment: Barclays appointed Mike Joo, who is joining from Bank of America, as an investment-bank co-CEO. The departure creates a potential leadership and talent-retention concern for BAC’s investment-banking franchise. Barclays names investment bank co-CEOs
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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