Matthew Goff Investment Advisor LLC Reduces Stake in Bank of America Corporation $BAC

Matthew Goff Investment Advisor LLC reduced its stake in Bank of America Corporation (NYSE:BAC) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 462,000 shares of the financial services provider’s stock after selling 8,629 shares during the period. Bank of America makes up about 4.4% of Matthew Goff Investment Advisor LLC’s investment portfolio, making the stock its 5th largest position. Matthew Goff Investment Advisor LLC’s holdings in Bank of America were worth $26,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of BAC. Handelsbanken Fonder AB raised its position 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 purchasing an additional 1,603,080 shares in the last quarter. Legal & General Group Plc boosted its stake in Bank of America by 3.4% in the fourth 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 buying an additional 1,487,809 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in 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 buying an additional 555,063 shares in the last quarter. International Assets Investment Management LLC grew its position in 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 during the last quarter. Finally, Ritholtz Wealth Management grew its position in Bank of America by 9.9% in the fourth 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. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research analyst reports. UBS Group raised their price target on shares of Bank of America from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, July 21st. Piper Sandler increased their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Citigroup raised their target price on shares of Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, HSBC boosted their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.08.

Key Stories Impacting Bank of America

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

• Positive Sentiment: Bank of America’s 2026 dividend increase highlights continued confidence in capital generation and supports the investment case for income-oriented shareholders. These Outperforming Giants Are Boosting Dividends in 2026
• Positive Sentiment: CEO Brian Moynihan continues to forecast three Federal Reserve rate hikes in 2026. Higher rates could support Bank of America’s net interest income, although the outlook depends on inflation and economic conditions. Brace for Three Rate Hikes in 2026, Says Bank of America’s CEO
• Positive Sentiment: Bank of America’s decision to spend more than $250 million annually on GLP-1 medications for employees may raise near-term healthcare costs, but management views the program as an investment in employee health and retention. Bank of America spends $250 million a year on GLP-1 drugs
• Neutral Sentiment: Bank of America’s research team remains active across technology and financial markets, including constructive views on AI-chip demand. The activity may support investment-banking and trading opportunities but does not directly change BAC’s earnings outlook. Nvidia dominates AI chips, but BofA sees AMD closing in
• Negative Sentiment: Investment-banking co-head Mike Joo is leaving Bank of America for an external opportunity only a year after taking the role. The high-profile departure raises concerns about leadership continuity and potential talent retention during a strong dealmaking environment. Bank of America’s co-head of investment banking Mike Joo to leave firm
• Negative Sentiment: Himalaya Capital, managed by Charlie Munger associate Li Lu, reportedly reduced its Bank of America position by roughly 71%. While one investor’s portfolio decision does not alter fundamentals, it can weigh on sentiment. Charlie Munger’s Only Outside Manager Just Sold a Bank
• Negative Sentiment: Bank of America disclosed that it may face monetary penalties from the OCC related to anti-money-laundering deficiencies. The potential resolution introduces regulatory-cost and compliance-risk overhang. Bank of America Signals OCC Penalties Over Anti Money Laundering Deficiencies

Bank of America Stock Down 0.5%

Shares of NYSE BAC opened at $62.95 on Friday. The company’s 50 day moving average price is $58.40 and its 200-day moving average price is $53.82. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. Bank of America Corporation has a 52-week low of $44.78 and a 52-week high of $63.97. The company has a market capitalization of $440.17 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend 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 presently 25.69%.

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.