AMG National Trust Bank Increases Holdings in Bank of America Corporation $BAC

AMG National Trust Bank increased its position in Bank of America Corporation (NYSE:BAC) by 29.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,026 shares of the financial services provider’s stock after acquiring an additional 13,297 shares during the period. AMG National Trust Bank’s holdings in Bank of America were worth $2,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Planning Group LLC grew its holdings in Bank of America by 1.8% in the first quarter. Retirement Planning Group LLC now owns 15,388 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 273 shares during the last quarter. Sterling Group Wealth Management LLC purchased a new position in shares of Bank of America in the first quarter valued at $203,000. Bryn Mawr Trust Advisors LLC raised its stake in shares of Bank of America by 27.1% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 26,145 shares of the financial services provider’s stock worth $1,275,000 after buying an additional 5,572 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Bank of America by 2.9% in the 1st quarter. Bleakley Financial Group LLC now owns 225,269 shares of the financial services provider’s stock worth $10,982,000 after buying an additional 6,398 shares in the last quarter. Finally, TFR Capital LLC. boosted its position in shares of Bank of America by 4.0% in the 1st quarter. TFR Capital LLC. now owns 21,613 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 836 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Key Bank of America News

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

• Positive Sentiment: Bank of America reported Q2 earnings of $1.21 per share, above Wall Street expectations, with revenue up sharply year over year. The beat was driven by higher net interest income, record trading activity, stronger investment banking fees, and continued growth in wealth management and consumer banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management said consumers are staying current on bills and still spending on discretionary items like travel and entertainment, easing fears that inflation and price pressures would hurt the bank’s core consumer franchise. BofA Sees ‘Strong’ Consumer, Bucking Fears of Price Pressures
• Positive Sentiment: CEO Brian Moynihan described the U.S. economy as “more durable than expected,” and the bank highlighted that digital banking is becoming a major deposit engine, supporting funding stability and long-term profitability. Digital Banking Becomes Bank of America’s Deposit Engine
• Positive Sentiment: Analysts responded favorably, with Jefferies reiterating a Buy rating and a $75 price target, citing earnings upside, NII growth, and an expanding capital markets franchise. Bank of America Earns Buy Rating on Strong Earnings Upside
• Neutral Sentiment: Bank of America also announced redemptions of senior notes, a routine debt-management move that should have limited immediate impact on the stock. Bank of America Announces Redemptions of Senior Notes

Bank of America Trading Up 1.9%

Shares of BAC opened at $60.64 on Wednesday. The stock has a fifty day moving average of $54.77 and a two-hundred day moving average of $53.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $430.32 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Bank of America Corporation has a fifty-two week low of $44.75 and a fifty-two week high of $61.21.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, analysts forecast that Bank of America Corporation will post 4.51 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a yield of 1.8%. Bank of America’s dividend payout ratio is 27.72%.

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 stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. This trade represents a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAC. Morgan Stanley increased their price objective on shares of Bank of America from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. The Goldman Sachs Group upped their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on shares of Bank of America from $57.50 to $62.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Truist Financial raised their price objective on shares of Bank of America from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, HSBC lifted their price objective on Bank of America from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $62.60.

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.