Kimelman & Baird LLC Makes New Investment in Bank of America Corporation $BAC

Posted by George Bondi on Aug 31st, 2026

Kimelman & Baird LLC bought a new position in Bank of America Corporation (NYSE:BAC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 785,757 shares of the financial services provider’s stock, valued at approximately $44,772,000. Bank of America comprises 2.4% of Kimelman & Baird LLC’s holdings, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Turim 21 Investimentos Ltda. bought a new position in Bank of America during the second quarter valued at about $25,000. Abound Financial LLC bought a new stake in Bank of America in the fourth quarter worth about $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America in the third quarter valued at about $27,000. CrossGen Wealth LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $30,000. Finally, Vermillion Wealth Management Inc. grew its position in shares of Bank of America by 199.1% during the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 438 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

More Bank of America News

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

Positive Sentiment: Bank of America’s artificial-intelligence initiatives and branch expansion are expected to improve operating efficiency and customer service. The potential for productivity gains supports the long-term earnings case, although elevated expenses remain a risk. Should You Buy BAC Stock as AI-Led Branch Expansion Boosts Efficiency?
Positive Sentiment: Strong inflows into gold and cryptocurrency funds reported by BofA suggest elevated client demand for investment products. That activity could benefit the bank’s wealth-management, brokerage and trading businesses, though the impact on BAC’s earnings is indirect.
Neutral Sentiment: Bank of America disclosed holdings of approximately 4.69% and 5.87% in QIAGEN, reflecting regulatory notifications about its investment position. The disclosures may attract attention but do not materially change BAC’s core banking outlook. Bank of America Discloses 5.87% Stake in QIAGEN
Neutral Sentiment: BofA strategists warned that global equities could face an autumn “reality check” tied to the U.S. midterm elections and geopolitical developments. A market pullback could weigh on BAC through lower investment-banking, asset-management and trading activity. Bank of America Warns of an Autumn Reality Check
Negative Sentiment: JPMorgan is hiring senior technology dealmaker David Fishman from Bank of America. Losing an experienced M&A executive could weaken BAC’s technology investment-banking franchise and adds to competitive pressure. JPMorgan Hiring Bank of America’s David Fishman
Negative Sentiment: The SEC is reportedly investigating margin lending to hedge fund Situational Awareness after a 67% drawdown, with Bank of America among the subpoenaed banks. Potential legal, credit and reputational risks could pressure sentiment. SEC Probe Puts Wall Street Leverage Risk Back in Focus
Negative Sentiment: BAC is challenging proposed changes to the Federal Reserve’s global systemically important bank capital surcharge. Higher capital requirements could constrain lending, reduce balance-sheet flexibility and pressure returns on equity. Bank of America Joins Clash Over Fed GSIB Capital Rule

Analysts Set New Price Targets

A number of equities research analysts recently commented on BAC shares. Morgan Stanley lifted their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Evercore set a $63.00 price objective on Bank of America and gave the company an “outperform” rating in a report on Monday, July 6th. Oppenheimer downgraded Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada boosted their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Bank of America in a research report on Tuesday, July 14th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $64.08.

View Our Latest Stock Report on BAC

Bank of America Trading Up 0.1%

NYSE:BAC opened at $62.38 on Monday. Bank of America Corporation has a 1 year low of $46.12 and a 1 year high of $65.22. The stock’s fifty day moving average price is $61.18 and its two-hundred day moving average price is $54.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $436.21 billion, a P/E ratio of 14.31, a P/E/G ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $31.56 billion for the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

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.

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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.