Prospect Hill Management LLC Invests $5.27 Million in Bank of America Corporation $BAC

Posted by Brian Himes on Aug 20th, 2026

Prospect Hill Management LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) during the second quarter, HoldingsChannel reports. The firm acquired 92,500 shares of the financial services provider’s stock, valued at approximately $5,271,000. Bank of America accounts for 2.0% of Prospect Hill Management LLC’s holdings, making the stock its 8th largest holding.

A number of other large investors have also modified their holdings of the company. Private Advisory Group LLC bought a new position in Bank of America in the second quarter worth $366,000. Focus Partners Advisor Solutions LLC acquired a new stake in Bank of America during the second quarter worth $2,159,000. Frontier Asset Management LLC bought a new stake in Bank of America in the 2nd quarter valued at $210,000. State of Wyoming bought a new stake in Bank of America in the 2nd quarter valued at $152,000. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Bank of America in the 2nd quarter valued at $124,226,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

More Bank of America News

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

Bank of America Trading Down 1.7%

Shares of BAC stock opened at $63.17 on Thursday. 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 capitalization of $441.73 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a 50-day moving average price of $60.35 and a 200 day moving average price of $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 (NYSE:BAC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.08. The firm had revenue of $31.56 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. Bank of America’s dividend payout ratio (DPR) is presently 25.69%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BAC. Barclays lifted their target price on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Citigroup increased their price target on shares of Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. 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. Truist Financial lifted their price objective on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Check Out Our Latest Stock Report on Bank of America

About Bank of America

(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.