Bank of America Corporation $BAC Holdings Raised by South Dakota Investment Council

South Dakota Investment Council lifted its stake in Bank of America Corporation (NYSE:BAC) by 11.7% in the first quarter, HoldingsChannel reports. The firm owned 77,494 shares of the financial services provider’s stock after purchasing an additional 8,100 shares during the period. South Dakota Investment Council’s holdings in Bank of America were worth $3,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Abound Financial LLC purchased a new position in shares of Bank of America in the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $27,000. Legacy Bridge LLC lifted its position in shares of Bank of America by 182.3% in the 4th 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. CrossGen Wealth LLC acquired a new position in Bank of America in the 4th quarter worth approximately $30,000. Finally, Joseph Group Capital Management acquired 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.

Bank of America Stock Up 1.1%

Bank of America stock opened at $61.76 on Friday. The firm has a market cap of $438.25 billion, a PE ratio of 14.16, a P/E/G ratio of 0.98 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $57.29 and its two-hundred day moving average price is $53.49. Bank of America Corporation has a twelve month low of $44.75 and a twelve month high of $62.99.

Bank of America (NYSE:BAC) last released 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. The company had revenue of $31.56 billion during the quarter, compared to the consensus estimate 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 revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, research analysts predict that Bank of America Corporation will post 4.67 EPS for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.32 per share. This is a positive change 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%. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio is 25.69%.

Insider Activity

In related 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 completion of the sale, the insider owned 1,373,397 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Trending Headlines about Bank of America

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

• Positive Sentiment: Bank of America plans to acquire U.K.-based cybersecurity consultancy MDSec Consulting, expanding its ability to defend against AI-driven cyberattacks and ransomware. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval. Financial terms were not disclosed. Bank of America to acquire information security consultancy MDSec Consulting Limited
• Positive Sentiment: Merrill Lynch recruited a 14-person advisory team managing approximately $13 billion from Morgan Stanley’s Graystone Consulting. The move could strengthen Bank of America’s wealth-management franchise and add affluent retail and institutional relationships. Merrill Lynch Recruits $13 Billion Team From Morgan Stanley’s Graystone Consulting
• Positive Sentiment: JPMorgan raised its price target on BAC to $68 from $62.50 and assigned an Overweight rating, implying roughly 10% potential upside from the referenced price. The upgrade reinforces the view that Bank of America’s valuation remains attractive relative to its earnings outlook. JPMorgan raises Bank of America price target
• Positive Sentiment: Recent coverage highlights BAC’s second-quarter earnings and revenue beats, resilient consumer spending, a 14% dividend increase and valuation near 13 times forward earnings. These factors have helped financial stocks outperform as investors rotate away from pressured technology and AI shares. Bank of America Stock Could Stay Reasonable Despite Fresh AI Expansion News
• Neutral Sentiment: Loans backed by securities are increasingly popular among wealthy borrowers. This could support lending opportunities for Bank of America and Merrill, although the article does not identify BAC-specific business gains. How the Ultra-Rich Are Borrowing Millions Against Stock Instead of Selling
• Negative Sentiment: Analysts delivered a harsh assessment of the Federal Reserve’s decision to hold interest rates steady while inflation remains elevated. Uncertainty over the path of rates can pressure bank valuations, margins and investor sentiment. Wall Street Delivers Harsh Verdict on Warsh Fed
• Negative Sentiment: Bank stocks recently retreated from record levels ahead of the Fed meeting, showing that BAC’s strong rally remains vulnerable to interest-rate and macroeconomic developments. Bank Stocks Drop From Record Highs Ahead of Fed Meeting

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BAC shares. Truist Financial lifted their price objective on shares of Bank of America from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Barclays lifted their price target on Bank of America from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, UBS Group increased their price objective 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. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.00.

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.