Bank of America Corporation $BAC Shares Sold by Montanova Capital LLC

Montanova Capital LLC cut its holdings in Bank of America Corporation (NYSE:BAC) by 39.0% in the second quarter, Holdings Channel reports. The institutional investor owned 789,720 shares of the financial services provider’s stock after selling 505,525 shares during the quarter. Montanova Capital LLC’s holdings in Bank of America were worth $44,998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BAC. Turim 21 Investimentos Ltda. purchased a new stake in Bank of America during the 2nd quarter worth approximately $25,000. Abound Financial LLC acquired a new stake in Bank of America during the fourth quarter worth about $26,000. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC purchased a new position in Bank of America during the fourth quarter worth about $30,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in Bank of America by 199.1% in the 1st quarter. Vermillion Wealth Management Inc. now owns 658 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group increased their price objective on Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Oppenheimer cut Bank of America from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Citigroup lifted their target price on Bank of America from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley upped their price target on Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Bank of America Stock Down 0.5%

NYSE:BAC opened at $61.99 on Tuesday. Bank of America Corporation has a 52 week low of $46.12 and a 52 week high of $65.22. The stock’s fifty day moving average is $61.27 and its two-hundred day moving average is $54.95. The stock has a market capitalization of $433.48 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.23.

Bank of America (NYSE:BAC) last issued its quarterly earnings data 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 $31.56 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 12.20% and a net margin of 17.56%.The company’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Research analysts anticipate that Bank of America Corporation will post 4.68 EPS for the current year.

Bank of America Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a yield of 2.1%. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Bank of America News Roundup

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

• Positive Sentiment: AI investment is supporting commercial-loan growth. U.S. business lending reached $2.93 trillion, a 10% year-over-year increase and the fastest growth since March 2023. Bank of America said artificial-intelligence capital spending is a key driver, creating potential demand for financing and related banking services. US Banks Want a Bigger Piece Of The AI Trade: Here’s How They’re Getting It
• Positive Sentiment: Net interest income is showing strong momentum. BAC generated $31.7 billion of net interest income in the first half of 2026, up 9% from a year earlier, helped by loan and deposit growth and asset repricing. Analysts expect the trend to continue through the rest of the year, supporting revenue and earnings. BAC Records 9% Y/Y Growth in NII in 1H26: Will the Uptrend Continue?
• Positive Sentiment: Bank of America’s broader market outlook has become less defensive. Its market signals moved from “red” to “yellow,” indicating reduced concern about an immediate bear market. This could improve sentiment toward economically sensitive financial stocks, although the bank continues to flag valuation and credit risks. BofA turns S&P 500 signals from red to yellow: What to buy now
• Neutral Sentiment: Higher rate expectations create both benefits and risks. Rising odds of a Federal Reserve rate hike could support loan yields and net interest income, but may also slow economic activity, pressure borrowers and increase credit-loss concerns. Fed Rate Hike Bets Are Back
• Negative Sentiment: Valuation is limiting upside. After a strong six-month advance and solid quarterly results, commentary has highlighted BAC as a relatively risky choice at current levels, raising profit-taking concerns if earnings growth or market conditions weaken. 3 Reasons BAC is Risky and 1 Stock to Buy Instead

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.