62,505 Shares in Bank of America Corporation $BAC Purchased by Bull Harbor Capital LLC

Bull Harbor Capital LLC bought a new stake in Bank of America Corporation (NYSE:BAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,505 shares of the financial services provider’s stock, valued at approximately $3,047,000. Bank of America comprises approximately 0.8% of Bull Harbor Capital LLC’s investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAC. Brighton Jones LLC raised its holdings in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after acquiring an additional 25,143 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Bank of America by 40.5% in the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 6,174 shares during the period. Jump Financial LLC increased its stake in Bank of America by 38.4% in the second quarter. Jump Financial LLC now owns 65,677 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 18,227 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Bank of America in the second quarter valued at $1,396,000. Finally, Vivaldi Capital Management LP lifted its position in Bank of America by 4.2% during the second quarter. Vivaldi Capital Management LP now owns 8,819 shares of the financial services provider’s stock worth $417,000 after buying an additional 355 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAC. UBS Group raised their price target on Bank of America from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Piper Sandler increased their price objective on shares of Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barclays raised their target price on shares of Bank of America from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Evercore set a $63.00 price target on shares of Bank of America and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Robert W. Baird increased their price target on shares of Bank of America from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Twenty-one investment 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 a consensus rating of “Moderate Buy” and an average target price of $64.00.

Bank of America Stock Performance

NYSE BAC opened at $61.09 on Thursday. The firm has a market capitalization of $433.55 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.00 and a beta of 1.17. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.99. 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 business’s 50-day simple moving average is $57.08 and its 200-day simple moving average is $53.45.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The company’s revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Bank of America Corporation will post 4.67 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. Stockholders of record on Friday, September 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is currently 25.69%.

Key Bank of America News

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

• Positive Sentiment: JPMorgan raised its BAC price target and rating. JPMorgan increased its target from $62.50 to $68.00 and assigned an “overweight” rating, implying meaningful potential upside based on the referenced price. Benzinga article
• Positive Sentiment: Higher earnings forecasts support the long-term outlook. Erste Group raised its FY2026 EPS estimate for Bank of America to $4.64 from $4.53 and its FY2027 estimate to $5.20 from $5.13. The FY2027 forecast is above the broader consensus cited in the report. Erste Group earnings estimate article
• Positive Sentiment: Analyst commentary remains generally favorable. Recent coverage highlights BAC’s second-quarter performance relative to diversified-bank peers and identifies the company as a potential beneficiary of artificial-intelligence adoption through operating-efficiency and margin gains. Bank of America AI beneficiaries article
• Neutral Sentiment: Bank of America disclosed changes in its Umicore stake. Umicore reported that BAC repeatedly crossed the 3% transparency threshold, with the position remaining around that level. The disclosure does not indicate a material change to BAC’s core business. Umicore stake article
• Negative Sentiment: Broad bank-sector selling weighed on BAC. Goldman Sachs, Morgan Stanley, JPMorgan, Citigroup, Wells Fargo and Bank of America all declined as investors positioned ahead of the Fed meeting. Uncertainty over whether rates will remain unchanged—or potentially move higher—has increased volatility across financial stocks. Bank stocks ahead of Fed meeting article

Bank of America Company 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.