Bank of America Corporation $BAC Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its holdings in shares of Bank of America Corporation (NYSE:BAC) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 674,566 shares of the financial services provider’s stock after selling 67,692 shares during the period. Glenmede Trust Co. NA’s holdings in Bank of America were worth $32,885,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Financial Wealth Advisors LLC boosted its position in Bank of America by 5.8% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 16,792 shares of the financial services provider’s stock valued at $819,000 after buying an additional 923 shares during the period. Axiom Investment Management LLC purchased a new stake in shares of Bank of America during the first quarter worth $1,245,000. WNY Asset Management LLC acquired a new stake in shares of Bank of America in the first quarter valued at $888,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Bank of America in the first quarter valued at $9,364,000. Finally, Wellington Grp LLC boosted its holdings in Bank of America by 48.0% in the first quarter. Wellington Grp LLC now owns 11,918 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 3,864 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America News Summary

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

• Positive Sentiment: Analysts raised their outlook for BAC. JPMorgan reportedly expects Bank of America’s stock price to rise, while another analyst increased the FY2026 earnings-per-share estimate. These revisions reinforce expectations for stronger profitability and support the stock’s valuation. Bank of America stock price expected to rise FY2026 EPS estimate increased
• Positive Sentiment: Cybersecurity acquisition strengthens operational defenses. Bank of America plans to acquire U.K.-based information-security consultancy MDSec Consulting, subject to regulatory approval and expected to close in the fourth quarter of 2026. The deal is intended to bolster defenses against increasingly sophisticated AI-driven cyberattacks and ransomware. Financial terms were not disclosed, limiting the immediate earnings impact. Bank of America buys cybersecurity firm
• Positive Sentiment: Merrill Lynch is adding a sizable wealth-management team. A 14-person team managing approximately $13 billion in client assets is moving from Morgan Stanley’s Graystone Consulting. The recruitment could expand Merrill’s fee-based wealth-management revenue and deepen its affluent-client franchise. Merrill Lynch recruits $13 billion team
• Neutral Sentiment: Higher-for-longer interest rates present both benefits and risks. A hawkish Federal Reserve pause may support Bank of America’s net interest income, but prolonged high rates can pressure loan demand and increase credit-quality concerns. The broader market is also entering an uncertain August trading period, which could amplify volatility.
• Neutral Sentiment: Valuation remains a focus after substantial gains. One analysis says BAC still appears reasonably valued or discounted despite having more than doubled over three years. The stock is above both its 50-day and 200-day moving averages and near its annual high, suggesting strong momentum but also leaving shares more sensitive to disappointing results or guidance. Bank of America valuation and AI expansion

Insiders Place Their Bets

In related news, insider Geoffrey S. Greener sold 126,756 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Bank of America Stock Up 0.6%

Bank of America stock opened at $62.07 on Friday. 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 stock has a market cap of $440.51 billion, a PE ratio of 14.24, a P/E/G ratio of 0.99 and a beta of 1.17. The stock’s fifty day moving average is $57.49 and its two-hundred day moving average is $53.55.

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. This is a boost from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. Bank of America’s dividend payout ratio is 29.36%.

Analysts Set New Price Targets

Several research firms recently commented on BAC. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of Bank of America in a research note on Tuesday, July 14th. HSBC increased their price target on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price objective on Bank of America from $62.50 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Daiwa Securities Group raised their target price on shares of Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. 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.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

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.