Bank of New York Mellon Corp Trims Holdings in Bank of America Corporation $BAC

Bank of New York Mellon Corp trimmed its holdings in shares of Bank of America Corporation (NYSE:BAC) by 28.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,965,635 shares of the financial services provider’s stock after selling 16,653,682 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Bank of America worth $1,997,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Illinois Municipal Retirement Fund boosted its position in Bank of America by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 411,719 shares of the financial services provider’s stock worth $20,071,000 after purchasing an additional 9,673 shares in the last quarter. Gentry Private Wealth LLC grew its holdings in shares of Bank of America by 54.1% during the first quarter. Gentry Private Wealth LLC now owns 13,553 shares of the financial services provider’s stock worth $661,000 after buying an additional 4,756 shares in the last quarter. Harmony Asset Management LLC raised its holdings in Bank of America by 106.7% in the 1st quarter. Harmony Asset Management LLC now owns 49,675 shares of the financial services provider’s stock valued at $2,422,000 after acquiring an additional 25,637 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH lifted its position in Bank of America by 7.0% during the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 100,657 shares of the financial services provider’s stock worth $4,907,000 after buying an additional 6,566 shares in the last quarter. Finally, NFSG Corp raised its holdings in shares of Bank of America by 50.0% during the 1st quarter. NFSG Corp now owns 2,021 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 674 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $61.62 on Thursday. Bank of America Corporation has a 1 year low of $44.75 and a 1 year high of $62.03. 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 company’s fifty day moving average is $54.93 and its two-hundred day moving average is $53.05. The stock has a market capitalization of $437.31 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.01 and a beta of 1.17.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, sell-side analysts predict that Bank of America Corporation will post 4.51 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.28 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Bank of America News Roundup

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

• Positive Sentiment: Bank of America beat Q2 expectations, with EPS of $1.21 topping estimates and revenue rising sharply year over year, helped by stronger net interest income, trading, and investment banking. Bank of America Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts raised targets after the earnings release, including Truist, KBW, Barclays, and Wells Fargo, signaling growing confidence in BAC’s earnings outlook and potential upside. These Analysts Boost Their Forecasts On Bank of America Following Upbeat Q2 Results
• Positive Sentiment: Management said the consumer is still spending, with travel, entertainment, gas, and other discretionary categories holding up, which supports loan demand and fee-generating activity. Bank of America Says Consumer Unit Earned Nearly $3.3 Billion as Spending Holds Up
• Positive Sentiment: BofA highlighted durable growth drivers on its earnings call, including rising NII, loan and deposit growth, operating leverage, and AI-driven productivity gains. Bank of America Q2 Earnings Call Points to Durable Growth Drivers
• Neutral Sentiment: Separate articles also noted broader optimism around the U.S. economy and financial stocks, which may be helping sentiment across the banking sector. Money Is Suddenly Rotating Into Financial Stocks. Here’s What’s Driving It — and Whether the Move Lasts.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BAC shares. Truist Financial upped their price objective on Bank of America from $64.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Autonomous Res cut their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. UBS Group raised their price objective on shares of Bank of America from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of America from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.77.

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.