Handelsbanken Fonder AB Sells 69,510 Shares of Bank of America Corporation $BAC

Handelsbanken Fonder AB lowered its position in Bank of America Corporation (NYSE:BAC) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,529,611 shares of the financial services provider’s stock after selling 69,510 shares during the quarter. Bank of America accounts for 0.7% of Handelsbanken Fonder AB’s holdings, making the stock its 23rd largest position. Handelsbanken Fonder AB’s holdings in Bank of America were worth $258,097,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Abound Financial LLC bought a new stake in Bank of America during the 4th quarter worth approximately $26,000. Wiser Advisor Group LLC bought a new position in shares of Bank of America during the third quarter valued at $27,000. Legacy Bridge LLC lifted its holdings 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 worth $28,000 after purchasing an additional 330 shares during the period. CrossGen Wealth LLC acquired a new position in shares of Bank of America during the fourth quarter worth $30,000. Finally, Joseph Group Capital Management bought a new stake in shares of Bank of America in the fourth quarter worth $32,000. Institutional investors own 70.71% of the company’s stock.

Bank of America News Summary

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

• Positive Sentiment: Bank of America received an average “Moderate Buy” rating from brokerages, reinforcing generally constructive analyst sentiment toward BAC. Bank of America Corporation Given Average Rating of Moderate Buy by Brokerages
• Positive Sentiment: Broad S&P 500 earnings momentum remains favorable, with approximately 80% of reporting companies posting year-over-year earnings-per-share growth. A healthy corporate backdrop could support investment banking, lending and markets activity for Bank of America. Corporate earnings soared in Q2, with AI as the growth engine
• Positive Sentiment: BofA analyst Vivek Arya reiterated Nvidia as a top semiconductor pick and assigned a $350 price target, citing a potential upgrade cycle tied to Nvidia’s Rubin platform. The call highlights Bank of America’s research visibility and continued exposure to technology investment banking and markets activity. Nvidia Stock’s Rubin Era Begins: A Top Pick, BofA Says
• Neutral Sentiment: Bank of America disclosed that a wholly controlled subsidiary increased its indirect stake in Turkey’s Alves Kablo to 5.2%. The transaction demonstrates investment activity but was not accompanied by details suggesting a material effect on BAC’s results. Bank of America Raises Indirect Stake in Alves Kablo to 5.2%
• Neutral Sentiment: Bank of America increased its IREN stake by 58% in the first quarter. The investment may provide exposure to data-center and artificial-intelligence infrastructure growth, but IREN’s high valuation and recent earnings miss make the position a relatively small, higher-risk factor for BAC investors. IREN Stock: Bank of America Boosts Holdings 58%
• Neutral Sentiment: Bank of America announced a $50,000 grant supporting mentoring, workforce development and career pathways in New Jersey. The initiative strengthens the bank’s community profile but has no meaningful near-term earnings impact. Bank of America Expands Partnership With Big Brothers Big Sisters
• Negative Sentiment: Commentary questioning whether AI spending is slowing raises a risk for technology-heavy markets and could pressure investor sentiment toward AI-linked investments. The concern is indirect for BAC, but weaker market valuations could affect trading and investment-banking activity. AI Spending is Slowing Down: How Will the S&P 500 React?

Bank of America Stock Up 0.9%

Shares of NYSE BAC opened at $63.74 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a market cap of $445.72 billion, a PE ratio of 14.62, a P/E/G ratio of 1.01 and a beta of 1.17. The company’s fifty day simple moving average is $58.88 and its 200 day simple moving average is $53.97. Bank of America Corporation has a 12-month low of $45.81 and a 12-month high of $64.00.

Bank of America Increases Dividend

The business 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 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 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s payout ratio is currently 25.69%.

Analyst Ratings Changes

Several brokerages recently issued reports on BAC. Oppenheimer lowered Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada upped their price target on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group raised their price objective on Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. 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 research note on Wednesday, July 15th. Finally, Evercore set a $63.00 target price on Bank of America and gave the company an “outperform” rating in a report on Monday, July 6th. Twenty-one research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.08.

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.