Bank of America Corporation $BAC Shares Bought by Eastern Bank

Eastern Bank raised its holdings in Bank of America Corporation (NYSE:BAC) by 4.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,523,363 shares of the financial services provider’s stock after purchasing an additional 58,561 shares during the quarter. Bank of America accounts for 1.3% of Eastern Bank’s holdings, making the stock its 20th largest holding. Eastern Bank’s holdings in Bank of America were worth $86,801,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Abound Financial LLC acquired a new stake in shares of Bank of America during the 4th quarter worth about $26,000. Wiser Advisor Group LLC acquired a new position in Bank of America in the third quarter valued at about $27,000. Legacy Bridge LLC boosted its stake in 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 buying an additional 330 shares during the period. CrossGen Wealth LLC purchased a new position in Bank of America during the fourth quarter worth about $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

More Bank of America News

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

• Positive Sentiment: Financial stocks, including BAC, have benefited from record highs following strong second-quarter bank results and a rotation away from technology shares. This broader sector momentum is providing a favorable backdrop for Bank of America. Financials Hit Record Highs as the AI Trade Unravels—Can They Keep Leading?
• Positive Sentiment: Bank of America reiterated a bullish view on Apple, arguing that investors may be underestimating the technology company’s outlook. The call highlights the strength of BAC’s research franchise and could support its investment-banking and wealth-management relationships. Bank of America doubles down on Apple stock for rest of 2026
• Positive Sentiment: BAC announced more than $1 million in additional funding for Texas flood recovery, bringing its total regional support to $3 million. The initiative may strengthen the bank’s community reputation, although the direct financial impact is limited. BofA Commits Over $1 Million to Support Texas Flood Recovery
• Neutral Sentiment: Bank of America adjusted its stake in Umicore around the 3% disclosure threshold. The filing indicates a change in holdings but does not by itself signal a material shift in BAC’s operating outlook. Bank of America adjusts stake in Umicore around 3% disclosure threshold
• Negative Sentiment: Citi hired Rohan Sen, a Bank of America managing director who spent 11 years at the company, to lead technology-services coverage. The departure is a modest negative for BAC’s investment-banking talent base, though the broader hiring impact is unclear. Citi Recruits Bank of America Vet Rohan Sen Amid Investment Banking Hiring Spree
• Negative Sentiment: A new disclosure regarding the OCC’s 2024 consent order says resolving the matter could include monetary penalties. The uncertainty over potential costs and continued compliance work is the clearest company-specific risk in the latest news. Bank of America’s new disclosure highlights compliance risk

Bank of America Price Performance

Shares of NYSE BAC opened at $62.47 on Tuesday. The stock’s 50-day moving average is $57.71 and its two-hundred day moving average is $53.60. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.99. The company has a market cap of $443.30 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.

Bank of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. This is an increase from Bank of America’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 4th. Bank of America’s payout ratio is presently 25.69%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BAC shares. Argus set a $70.00 price target on shares of Bank of America in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price objective on shares of Bank of America from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Oppenheimer downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods boosted their target price on Bank of America from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Bank of America in a research note on Tuesday, July 14th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

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.