Independent Financial Group LLC Acquires New Stake in Bank of America Corporation $BAC

Independent Financial Group LLC bought a new position in Bank of America Corporation (NYSE:BAC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,204 shares of the financial services provider’s stock, valued at approximately $3,081,000.

Several other large investors have also recently modified their holdings of BAC. Abound Financial LLC purchased a new position in Bank of America in the fourth quarter worth about $26,000. Legacy Bridge LLC increased its position in shares of Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 330 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $27,000. CrossGen Wealth LLC purchased a new position in Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the 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 transaction, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on BAC shares. Piper Sandler upped their price objective 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. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Bank of America in a research note on Tuesday. Argus set a $70.00 price target on Bank of America in a report on Wednesday. Truist Financial increased their price objective on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Bank of America Trading Down 0.5%

Shares of BAC stock opened at $61.18 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $62.12. The stock has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.99 and a beta of 1.17. The firm’s 50 day moving average is $55.30 and its 200 day moving average is $53.15.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. Research analysts expect that Bank of America Corporation will post 4.64 earnings per share for the current year.

Bank of America Dividend Announcement

The company 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. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Bank of America’s dividend payout ratio is 25.69%.

Trending Headlines about Bank of America

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

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.