61,865 Shares in Bank of America Corporation $BAC Purchased by Thomasville National Bank

Thomasville National Bank acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 61,865 shares of the financial services provider’s stock, valued at approximately $3,525,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in Bank of America by 53.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider’s stock worth $254,625,000 after acquiring an additional 1,603,080 shares during the last quarter. Legal & General Group Plc increased its position in Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider’s stock worth $2,497,655,000 after purchasing an additional 1,487,809 shares in the last quarter. Mondrian Investment Partners LTD raised its holdings in Bank of America by 34.3% in the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider’s stock valued at $119,647,000 after buying an additional 555,063 shares during the period. International Assets Investment Management LLC lifted its position in Bank of America by 217.4% during the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider’s stock valued at $18,037,000 after buying an additional 224,627 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp grew its stake in Bank of America by 6.9% during the first quarter. UNIVEST FINANCIAL Corp now owns 159,624 shares of the financial services provider’s stock worth $7,782,000 after buying an additional 10,359 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAC. Oppenheimer cut shares of Bank of America from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada increased their price objective on shares of Bank of America from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Evercore set a $63.00 target price on shares of Bank of America and gave the company an “outperform” rating in a research note on Monday, July 6th. UBS Group boosted their price objective on shares of Bank of America from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Argus set a $70.00 target price on Bank of America in a research report on Wednesday, July 15th. Twenty-one investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.08.

Bank of America News Summary

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

• Positive Sentiment: Bank of America agreed to invest up to approximately $1.9 billion for a 49.9% stake in Jio Credit, the lending subsidiary of India’s Jio Financial Services. The partnership gives BAC access to Jio’s digital distribution network and exposure to India’s expanding consumer-credit market; the initial investment is expected to provide a 26.5% stake, with warrants potentially increasing ownership. BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit
• Positive Sentiment: BAC launched an 18-month initiative to mobilize and deploy $250 billion toward U.S. digital, energy, power and core infrastructure projects. The program could generate lending, investment, capital-markets and advisory revenue, particularly from data-center and AI-related construction. Bank of America launches $250 billion initiative for US tech, energy infrastructure
• Positive Sentiment: An analyst raised Bank of America’s fiscal 2026 EPS estimate, adding to the view that earnings momentum remains favorable. The bank previously reported quarterly EPS of $1.21, above the $1.13 consensus, with revenue up 19.6% year over year. FY2026 EPS Estimate for Bank of America Boosted by Analyst
• Neutral Sentiment: Firm interest rates remain a key focus. Higher rates can support net-interest income, but continued or additional Federal Reserve tightening could pressure credit demand, bond portfolios and the broader economy. BofA Exec Still Calls For 3 Fed Hikes After July CPI
• Negative Sentiment: The Jio transaction requires substantial capital and regulatory approvals, while the benefits from building the Indian lending platform will take time to materialize. Investors may therefore be balancing long-term growth potential against near-term execution and return-on-investment uncertainty. Bank of America Jio Credit joint venture announcement

Bank of America Stock Performance

Shares of BAC stock opened at $64.21 on Friday. The stock has a market capitalization of $449.03 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.03 and a beta of 1.17. Bank of America Corporation has a one year low of $46.12 and a one year high of $65.20. The company’s 50-day simple moving average is $59.56 and its 200-day simple moving average is $54.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.82 and a current ratio of 0.83.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 firm had revenue of $31.56 billion during the quarter, compared to analyst estimates of $30.78 billion. During the same period in the previous year, the company earned $0.89 earnings per share. Bank of America’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts anticipate that Bank of America Corporation will post 4.68 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.32 dividend. This is a boost 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 of this dividend is Friday, September 4th. Bank of America’s dividend payout ratio is presently 25.69%.

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.