Bank of America Corporation $BAC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 28.9% during the first quarter, HoldingsChannel reports. The firm owned 40,965,635 shares of the financial services provider’s stock after selling 16,653,682 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of America were worth $1,997,075,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BAC. DecisionMap Wealth Management LLC boosted its holdings in shares of Bank of America by 4.7% in the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 182 shares during the last quarter. Money Concepts Capital Corp grew its position in Bank of America by 3.8% in the fourth quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 182 shares in the last quarter. Holistic Financial Partners lifted its position in shares of Bank of America by 2.4% during the fourth quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 183 shares in the last quarter. Operose Advisors LLC lifted its position in shares of Bank of America by 0.9% during the fourth quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 185 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its stake in shares of Bank of America by 1.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 187 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Barclays increased their price objective on shares of Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada lifted their target price on Bank of America from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price objective on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. increased their target price on Bank of America from $57.50 to $62.50 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $63.77.

Insider Buying and Selling at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Bank of America Trading Up 1.7%

Bank of America stock opened at $61.62 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.81 and a current ratio of 0.83. The firm has a market cap of $437.31 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 1.17. The firm’s 50 day moving average price is $54.93 and its two-hundred day moving average price is $53.05. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.03.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.Bank of America’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts predict that Bank of America Corporation will post 4.51 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.28 dividend. The ex-dividend date 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 dividend payout ratio is presently 27.72%.

Key Headlines Impacting Bank of America

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here’s What’s Driving It — and Whether the Move Lasts.

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.