Gateway Investment Advisers LLC Lowers Stock Position in Bank of America Corporation $BAC

Gateway Investment Advisers LLC cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 12.4% in the second quarter, HoldingsChannel reports. The fund owned 1,465,013 shares of the financial services provider’s stock after selling 206,932 shares during the period. Bank of America makes up approximately 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 24th largest holding. Gateway Investment Advisers LLC’s holdings in Bank of America were worth $83,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Bank of America by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock worth $35,809,225,000 after purchasing an additional 23,351,183 shares during the period. Norges Bank purchased a new position in shares of Bank of America during the 4th quarter valued at $4,774,210,000. Bank of New York Mellon Corp lifted its stake in shares of Bank of America by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 57,619,317 shares of the financial services provider’s stock valued at $3,169,062,000 after buying an additional 2,929,779 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Bank of America by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 53,783,821 shares of the financial services provider’s stock worth $2,958,110,000 after buying an additional 1,105,833 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Bank of America by 5.9% in the 4th quarter. Deutsche Bank AG now owns 47,172,503 shares of the financial services provider’s stock worth $2,594,488,000 after buying an additional 2,611,776 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

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

NYSE BAC opened at $64.21 on Friday. 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 $46.12 and a 1-year high of $65.20. The business has a 50 day simple moving average of $59.56 and a two-hundred day simple moving average of $54.23. The stock has a market capitalization of $449.03 billion, a PE ratio of 14.73, a P/E/G ratio of 1.03 and a beta of 1.17.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $30.78 billion. During the same period in the prior year, the company earned $0.89 EPS. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts predict that Bank of America Corporation will post 4.68 EPS 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 given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.0%. This is an increase from Bank of America’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. Bank of America’s dividend payout ratio (DPR) is 25.69%.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Tuesday, July 21st. Piper Sandler increased their target price on Bank of America from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Argus set a $70.00 target price on Bank of America in a research note on Wednesday, July 15th. Morgan Stanley boosted their price target on Bank of America from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, 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 report on Wednesday, July 15th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.