Zhang Financial LLC Grows Stock Position in Bank of America Corporation $BAC

Zhang Financial LLC lifted its position in Bank of America Corporation (NYSE:BAC) by 90.8% during the 1st quarter, Holdings Channel reports. The firm owned 36,230 shares of the financial services provider’s stock after acquiring an additional 17,239 shares during the period. Zhang Financial LLC’s holdings in Bank of America were worth $1,766,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in shares of Bank of America in the fourth quarter valued at about $26,000. Legacy Bridge LLC boosted 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. Wiser Advisor Group LLC purchased a new stake in shares of Bank of America during the third quarter worth about $27,000. CrossGen Wealth LLC bought a new stake in shares of Bank of America in the fourth quarter worth about $30,000. Finally, Joseph Group Capital Management purchased a new position in Bank of America during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Key Bank of America News

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 Stock Down 0.5%

Shares of NYSE:BAC opened at $61.18 on Friday. The firm has a market capitalization of $434.16 billion, a P/E ratio of 14.03, 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 0.81 and a current ratio of 0.83. The stock has a 50 day moving average price of $55.30 and a 200-day moving average price of $53.15. Bank of America Corporation has a 52-week low of $44.75 and a 52-week high of $62.12.

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

Bank of America Announces Dividend

The business 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 of this dividend was Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BAC shares. Royal Bank Of Canada boosted their target price on Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore set a $63.00 price target on Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. Piper Sandler lifted their price target on shares of Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Oppenheimer downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Barclays upped their price objective on shares of Bank of America from $71.00 to $72.00 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 assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.77.

Insider Transactions at Bank of America

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were 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 directly owned 1,373,397 shares in the company, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

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.