Boston Common Asset Management LLC Decreases Stock Position in Bank of America Corporation $BAC

Boston Common Asset Management LLC lessened its position in Bank of America Corporation (NYSE:BAC) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 240,092 shares of the financial services provider’s stock after selling 11,299 shares during the quarter. Boston Common Asset Management LLC’s holdings in Bank of America were worth $11,704,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Abound Financial LLC purchased a new position in Bank of America in the 4th quarter valued at $26,000. Wiser Advisor Group LLC acquired a new stake in Bank of America during the 3rd quarter worth $27,000. Legacy Bridge LLC grew its holdings in shares of 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 in the last quarter. CrossGen Wealth LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $30,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Bank of America in the fourth quarter valued at about $32,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Bank of America News

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

• Positive Sentiment: Bank of America declared regular cash dividends on multiple preferred stock series, reinforcing its continued capital return to shareholders. Bank of America Declares Preferred Stock Dividends Payable in August and September 2026
• Positive Sentiment: Multiple firms lifted their outlooks on BAC, including higher earnings estimates for FY2026 and FY2027, suggesting improving expectations for profitability. Bank of America stock page
• Positive Sentiment: Bank of America’s recent Q2 results were broadly strong, with the company topping estimates and benefiting from robust trading and deal activity, which has helped support investor confidence in the stock. BofA rides market whiplash to trading records, deal activity shines
• Neutral Sentiment: Bank of America also announced internal AI leadership appointments to accelerate AI adoption in its global markets business, a strategic move that could improve efficiency over time but is not an immediate earnings driver. BofA names senior executives to drive AI adoption in global markets-memo

Bank of America Trading Down 0.2%

Shares of BAC opened at $61.18 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.23. Bank of America Corporation has a 12-month low of $44.75 and a 12-month high of $62.12. The firm has a 50-day moving average price of $55.30 and a 200 day moving average price of $53.13. The firm has a market capitalization of $434.16 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.98 and a beta of 1.17.

Bank of America (NYSE:BAC) last released 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 firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. Bank of America’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the business earned $0.89 earnings per share. Sell-side analysts forecast that Bank of America Corporation will post 4.64 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, June 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of America’s dividend payout ratio (DPR) is currently 25.69%.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Bank of America from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. HSBC increased their price objective on shares of Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Evercore set a $63.00 target price on shares of Bank of America and gave the stock an “outperform” rating in a research note on Monday, July 6th. Citigroup boosted their target price on Bank of America from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Daiwa Securities Group upped their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.77.

Insider Activity at Bank of America

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 approximately $72,803,774.97. The trade was a 8.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Bank of America 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.