Mediolanum International Funds Ltd trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 52.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703,227 shares of the financial services provider’s stock after selling 773,754 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Bank of America were worth $33,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Norges Bank purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $4,774,210,000. Bank of New York Mellon Corp boosted its position in shares of Bank of America by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock worth $3,169,062,000 after purchasing an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after purchasing an additional 1,105,833 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after buying an additional 2,611,776 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on BAC shares. Keefe, Bruyette & Woods raised their price objective on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler boosted their target price on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Daiwa Securities Group increased their target price on Bank of America from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Truist Financial lifted their price target on Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. 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 MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.77.
Insider Activity at Bank of America
In related news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated 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 completion of the sale, the insider directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.
Bank of America Price Performance
Shares of NYSE BAC opened at $61.18 on Friday. The firm has a market cap of $434.16 billion, a P/E ratio of 14.03, a PEG ratio of 0.98 and a beta of 1.17. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.12. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $55.30 and a 200 day moving average of $53.15.
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, beating the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. As a group, research analysts expect that Bank of America Corporation will post 4.64 EPS for the current fiscal year.
Bank of America Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Bank of America’s dividend payout ratio (DPR) is 25.69%.
Bank of America News Summary
Here are the key news stories impacting Bank of America this week:
- Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
- Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
- Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
- Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo
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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