Bank of America Corporation $BAC Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its position in shares of Bank of America Corporation (NYSE:BAC) by 11.6% during the 1st quarter, Holdings Channel reports. The firm owned 95,680 shares of the financial services provider’s stock after selling 12,603 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Bank of America were worth $4,664,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB lifted 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 acquiring an additional 1,603,080 shares during the period. Legal & General Group Plc increased its stake in shares of 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 worth $2,497,655,000 after acquiring an additional 1,487,809 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Bank of America by 2.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider’s stock worth $159,794,000 after acquiring an additional 71,307 shares during the period. International Assets Investment Management LLC grew its position in Bank of America by 217.4% during the 4th 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 during the period. Finally, Moore Capital Management LP grew its holdings in Bank of America by 2.2% during the third quarter. Moore Capital Management LP now owns 2,628,480 shares of the financial services provider’s stock worth $135,603,000 after acquiring an additional 55,840 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BAC shares. Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. HSBC lifted 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. Keefe, Bruyette & Woods boosted their target price on Bank of America from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Evercore set a $63.00 price target on shares of Bank of America and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, Piper Sandler lifted their target price on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Twenty-one 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Bank of America Stock Performance

NYSE:BAC opened at $60.64 on Wednesday. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $61.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average price of $54.77 and a 200 day moving average price of $53.01. The stock has a market capitalization of $430.32 billion, a P/E ratio of 15.01, a PEG ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its earnings results 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. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company had revenue of $8.08 billion for the quarter, compared to analyst estimates of $30.78 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities research analysts forecast that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of America’s payout ratio 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 reported Q2 earnings of $1.21 per share, above Wall Street expectations, with revenue up sharply year over year. The beat was driven by higher net interest income, record trading activity, stronger investment banking fees, and continued growth in wealth management and consumer banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management said consumers are staying current on bills and still spending on discretionary items like travel and entertainment, easing fears that inflation and price pressures would hurt the bank’s core consumer franchise. BofA Sees ‘Strong’ Consumer, Bucking Fears of Price Pressures
• Positive Sentiment: CEO Brian Moynihan described the U.S. economy as “more durable than expected,” and the bank highlighted that digital banking is becoming a major deposit engine, supporting funding stability and long-term profitability. Digital Banking Becomes Bank of America’s Deposit Engine
• Positive Sentiment: Analysts responded favorably, with Jefferies reiterating a Buy rating and a $75 price target, citing earnings upside, NII growth, and an expanding capital markets franchise. Bank of America Earns Buy Rating on Strong Earnings Upside
• Neutral Sentiment: Bank of America also announced redemptions of senior notes, a routine debt-management move that should have limited immediate impact on the stock. Bank of America Announces Redemptions of Senior Notes

Insider Activity

In related news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Bank of America Profile

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.